Beijing is the capital, Shanghai is the magic capital, so what is Shenzhen? If you ask this question on the Internet, netizens will tell you that Shenzhen is the "capital of making money".
Finance plays a key role in Shenzhen, and the supporting digital infrastructure of the financial industry is naturally also very important. Financial institutions such as banks and securities firms in Shenzhen generally pay more attention to technological innovation and digital construction, and have become a model for the whole country and even the world.
In recent years, the replacement of independent databases has become an important trend in the development of financial digitization, but it also presents a series of challenges.
Only in the first year of cooperation with Huawei in 2022, Zhangshu Technology successfully broke the ice with 6 GaussDB commercial customers, especially in Shenzhen's financial industry and achieved key results.
How did they bring a pair of financial data wings called GaussDB to the Shenzhen people who made money to fly?
Let's get closer to Palm Data and walk into the database replacement journey of Shenzhen's financial industry.
Database change in the financial industry
Why is it so difficult?
As a field related to the national economy and the people's livelihood, it is particularly important for the financial industry to become self-reliant and self-reliant in science and technology. Among them, the application of independent databases in the financial industry is a very important and extremely difficult project.
Overall, the change of the financial industry database needs to face challenges from three aspects:
1. The complexity of the digitization of the financial industry itself.
The large scale of data in the financial industry, frequent data reading and writing calls, and its own stringent data security and data efficiency requirements make database replacement extremely complicated, especially for core business systems.
Taking the legal person liquidation system in the core business system of a securities company as an example, this system has a lot of interactive dependencies with external systems such as payment system, financial system, registration and settlement, and the system operation logic is complex. The liquidation process involves a large number of task processing, and the liquidation delay will affect other business systems, causing inestimable impact. With such business complexity, the replacement complexity brought about by implementing it at the database level can be imagined.
If the processing capacity and operating efficiency of the database are not ideal, it will bring huge problems to the financial industry. The securities account is the real money of the user, and the transaction market is changing rapidly, and the database replacement must be fully prepared.
Second, the autonomous database itself is in an early stage of development.
Compared with the databases commonly used in the financial industry, autonomous databases can be said to take a few years to catch up with what others have gone through in 30 or 40 years.
As a result, many financial institutions cannot find a database alternative that suits their own needs, or dare not try to replace it rashly due to various factors. This requires the emergence of service providers in the industry who understand both financial scenarios and financial services, as well as database technology and experience, to comprehensively solve the deficiencies in technology, ecology, and experience faced by autonomous databases.
3. Insufficient service ability and service experience.
In the process of rapid development of autonomous databases, some manufacturers prefer to quickly acquire the market, rather than cultivate the ecology and enhance the capabilities of partners. In the financial industry, due to the low efficiency of original factory support, insufficient service capabilities, and the lack of capacity reserve and service experience of third-party service providers, they often fall into the vicious circle of being struggling with service and not daring to try. Therefore, it is essential to build a benign ecological environment around autonomous databases. In the ecology, enterprises with different roles and specialties are required to build the ecological services and partner capabilities of independent databases, so as to provide industry customers with a regenerative, efficient, and original factory capability certified service system.
Facing the historic opportunity of self-replacing financial industry databases, a company is ready.
"Tackling Difficulties From Day One"
Who is Palm Technology?
Palm Data Technology is a financial technology company focusing on the securities and large asset management industries, oriented to database and big data technology, intelligent scene applications, and innovative solutions for industrialized information technology applications.
Its predecessor is the data center product department and DBA technical team of Fujian Xinyi Technology Co., Ltd. The team started serving a large exchange as early as 2005, and fully participated in the construction of the first-generation market monitoring system and the exchange data warehouse. Therefore, Palm Data naturally understands the financial industry better, and has always focused on the pairing of database and data technology. An area of vital importance to the financial industry.
Faced with the proposition of how to truly bring autonomous databases to financial scenarios, Palm Data has gone through quite a long exploration. In 2019, Palm Data began to enter the autonomous track for primary selection of databases; in 2020, Palm Data began to truly explore related technologies and products in depth; by 2021, Palm Data Technology has undergone many screenings, and the first to determine the data provided by Huawei GaussDB for cooperation. In 2022, PalmData has fully embraced Huawei, embraced GaussDB's strategic choice, and started to bear fruit.
As early as 2020, Palm Data found that there are many deficiencies and problems in various autonomous databases, such as database performance that cannot match the complexity of financial industry business; or lack of compatibility with traditional databases, resulting in too high migration costs and risks ; Or the migration has been completed but problems occur frequently, lack of overall maintainability, etc.
At this time, GaussDB fully released its technical and ecological capabilities, which further promoted the in-depth cooperation between Huawei and Palm Data. The chief architect of Huawei's GaussDB had a direct dialogue with the CTO of Palm Data. In the joint research and development stage, weekly meetings were used as the basic unit to realize information interaction and capability matching. Every day was a high-intensity cooperation promotion. During this process, Palm Data invested More than one-third of the company's R&D and core talents, and Huawei's entire database product line have also participated, and with the addition of R&D system experts such as Huawei Cloud and Huawei 2012 Labs, the two parties have jointly overcome a series of technical problems, prompting "Kunpeng+GaussDB" has achieved performance breakthroughs in the application of core business systems in the financial industry, and Palm Data has also independently completed the research and development of some industry-level ecological tools such as the database kernel function extension package, which truly provides independent iterative selection of databases in the financial industry GaussDB has laid a solid product and technology foundation, built high-quality ecological application support, and won unanimous praise from industry users and regulatory agencies.
Today, Palm Data Technology has maintained good cooperative relations with nearly 100 large financial institutions across the country, covering more than 60% of the securities industry, and successfully pushed GaussDB to financial customers represented by securities firms and fund companies. is opening fully. At the same time, PalmScience's pragmatic, rigorous, and willingness to concentrate on research and development has also been highly praised by regulatory agencies. It has undertaken a number of tasks from relevant departments and achieved good results. That's it, Palm Data quickly opened up the situation in Shenzhen's financial industry, bringing surging support to the self-reliance and self-improvement of Shenzhen's financial technology.
Shenzhen
Digging and digging in financial data
There are endless treasures hidden in financial data, and the high performance, high availability, and high controllability of the database are crucial to what the financial industry can dig out.
Thanks to the cooperation between Palm Data and Huawei, many financial customers have found a new road to database autonomy, and under active exploration, they have achieved excellent results.
Taking the securities legal person liquidation system as an example, it has shown excellent performance in the operation of Industrial Securities. In one week, the performance of Kunpeng and GaussDB's new-generation legal entity liquidation system compared with the current network system based on the same production data shows that its performance has improved by about 10%, and it supports merged operation. When the information fails, the standby database can take over the work of the main database, which greatly improves the reliability of the system.
Within one year of 2022, Palm Data Technology has been recognized by 4 leading securities firms and fund companies in Shenzhen. Now, in addition to further expanding the market space for customers in the securities and fund industries, Palm Digital Technology is also moving towards the banking and insurance industries.
For the financial industry, the upgrading and transformation of databases and the adaptation and application of business systems are the focus and pain points of the current industry development. This is a combination of the pace of self-promotion, comprehensive evaluation of software and hardware budgets, and complex logic of business systems. The complexity and arduousness of adaptation and transformation, especially the operation guarantee and migration security of the business system in this process, prompt customers to choose models based on their own characteristics, and it is especially necessary to focus on autonomy like Palm Data The escort of the ecological partners of the database.
Since the beginning of choosing GaussDB, Palm Data has continued to build a step-by-step, scalable technology and service team led by the company's CTO and solution experts. The GaussDB technical support and service system has become the link between Huawei and financial industry customers and industry business partners.
Palm Data, Huawei, and financial customers from Shenzhen and the whole country, digging and digging in financial data, finally made GaussDB bloom.
Cooperate with GaussDB to meet the new era of data
At the current stage, data infrastructure in various industries is ushering in a new era of development. Intelligence, high performance, and self-controllability constitute the three major trends in the development of data infrastructure.
In the face of this new era, what value can GaussDB bring? The answer to this question is precisely what we can find in the cooperation between Palm Data, Huawei and Shenzhen financial customers.
First of all, among the GaussDB provided by Huawei and many other products, there is a lot of room for development. For example, Kunpeng's diverse computing advantages have a very prominent synergistic effect with GaussDB. In this way, Huawei provides sufficient room for optimization to partners with research and development capabilities and industry-depth capabilities. Partners can take advantage of Huawei's advantages in multi-technology collaboration and multi-product portfolio to maximize their own value, which is difficult for other manufacturers to provide.
Secondly, Huawei's R&D system and talent accumulation can play a vital role in co-research and co-creation. In the cooperation between Zhangshu and Huawei, it can be seen that the talent capabilities of both parties have maintained high-frequency synchronization, and finally the challenging technological breakthroughs have been completed efficiently. This has a great relationship with Huawei's strong R&D system support.
Furthermore, Huawei has provided partners with very good openness in fields such as GaussDB. Huawei has implemented the strategy of open hardware and open source software, so that partners can deeply participate in the construction and development of GaussDB. For example, Palm Data Technology has participated in the R&D work including the kernel from the very beginning, and finally realized the joint efforts of both parties to make GaussDB better and stronger.
In the future, Palm Data hopes to continue to strengthen cooperation with Huawei, to enter the national market through Huawei's channels, and to enter more industries besides finance.
"Dedicated to becoming the best GaussDB service provider" is the strategic goal of PalmSight at this stage.
It is such companies that allow the financial industry to insert new wings of data. Behind the success of Shenzhen people making money and flying, more people are working silently, overcoming difficulties, cooperating sincerely, and forging ahead.
This may be regarded as another layer of spiritual core behind Shenzhen people's "capital of making money".
