China Resources Bank, GienTech to advance fintech solutions in GBA

Their strategic alliance will introduce advanced financial infrastructure to drive innovation and elevate operational efficiency in the Greater Bay Area.

China Resources Bank has taken a significant step forward in bolstering its financial technology (fintech) capabilities with the introduction of two pivotal elements within its Financial Infrastructure Innovation Platform. These components, a cutting-edge financial transaction cloud and an innovative supply chain finance platform, are constructed on ORIGIEN, the robust digital infrastructure developed by GienTech, a leading digital transformation specialist. This move underscores the bank's commitment to fostering home-grown fintech advancements in the Guangdong Hong Kong-Macao Greater Bay Area (GBA), aiming to elevate operational efficiency, flexibility, and agility while encouraging a culture of innovation to better serve its customers.

Since its establishment in Zhuhai in 1996, China Resources Bank has actively supported the growth of the GBA. A strategic partnership forged with GienTech in December 2022 marked a pivotal moment in the bank's tech-driven journey. This collaboration aims to propel technological innovation, construct the Financial Infrastructure Innovation Platform, and propel fintech development within the GBA.

ORIGIEN, positioned at the core of China Resources Bank's Financial Infrastructure Innovation Platform, facilitates systematic IT architecture upgrades, large-scale software development, and digital transformation, meeting the stringent technical standards of the financial sector. Tailored for critical industries, particularly finance, ORIGIEN encapsulates nearly 30 years of GienTech's industry expertise, incorporating cutting-edge technologies to empower financial institutions in upgrading systems, enhancing capabilities, and accelerating digital transformation. With a successful track record, ORIGIEN has been implemented in over 100 projects across Asia.

The rollout of the Financial Infrastructure Innovation Platform, a joint endeavour between China Resources Bank and GienTech, unfolds in two strategic phases. Phase one witnessed the establishment of the financial transaction cloud, serving as the technological bedrock for the bank's digital transformation. On this cloud platform, the partners are actively developing an upgraded core banking system, a novel supply chain finance platform, and an advanced mobile banking platform. The validation of the cloud platform's feasibility, security, and reliability through core business scenarios sets the stage for phase two, involving the migration of the bank's remaining financial transaction systems to the cloud.

The overarching vision of GienTech and China Resources Bank is to establish an industry benchmark for fintech application innovation and actively drive fintech development within the GBA. The successful deployment of the financial transaction cloud and supply chain finance platform not only highlights the stability and security of ORIGIEN but also positions it as a robust foundation for financial services. William Wong, General Manager of GienTech Overseas BFSI, expresses the company's commitment to deepen its presence in the GBA and increase investments in Hong Kong to empower the digital transformation of the financial sector and other key industries.

In continuation of their collaborative efforts on the Financial Infrastructure Innovation Platform, GienTech and China Resources Bank are gearing up for a trial run of a new mobile banking platform by the end of the year. This initiative represents a significant stride in advancing fintech solutions tailored for the GBA, further cementing the partnership's dedication to technological innovation and progress.