In the fiercely competitive financial environment and amidst the rapid development of internal banking operations, the construction of bank information systems requires a high level of foresight. Therefore, the development of the next generation of core banking business systems is not merely about a simple bank core system. It involves not only the front, middle, and back offices, including counter operations, electronic channels, application integration, and a series of applications but also considerations for unique domestic features such as intermediary business, bank cards, and challenges brought by the payment, regulatory, and system construction issues.

On January 22, 2018, the core business system software product developed and implemented independently by Xinda Financial obtained the authorization for the computer software copyright from the National Copyright Administration. The software is named "BankingWays Core Business System Software【abbreviated as: BW Core System】V5.0," with the certificate number: Software Copyright Registration No. 2379686.

What is the BW Core System?

The BW Core System adopts open platform technology and is based on Service-Oriented Architecture (SOA) design. It achieves the design goals of 'supporting the integration of banking business, business process reengineering, and the rapid launch of new products.' The system includes several components such as Customer Center, Parameter Platform, Product Factory, Pricing Factory, Account Management, Accounting Engine, Internal Accounts, Operations Management, Risk Management, various external interfaces, and the Core System Frontend. It provides modules for Customer Information Management, Organizational Structure Management, and Authorization Management. Additionally, it offers functionality for configuring and managing banking products such as deposits, loans, payment settlement, and fund management through the Product Factory, along with transaction processing capabilities. The functional architecture is illustrated in the diagram below:

 What are the advantages and features of the BW Core System?

Firstly, the BW Core System is designed with a genuine customer-centric philosophy. It goes beyond the superficial business operations conducted through customer numbers and focuses on effectively collecting customer information. This allows various customer-related information to be rapidly utilized across different aspects of customer service, such as risk control, pricing strategies, and service modifications, based on existing customer habits.

Secondly, the BW Core System adopts a dual-core architecture, with independent development of business processing and accounting calculation functions. It combines the trend of platforming application systems using a unified technical framework, resulting in the development of a completely new generation of bank core business systems known as the 'Dual-Core Platform.' In the era of openness and integration characteristic of the internet, it provides a practical path for the integration of bank business development. The innovative concept of 'Dual-Core Platform' not only redefines the functionality of bank core business systems but also represents the future trend in the development of core business systems.

Lastly, the BW Core Business System features advanced design principles and technological architecture: customer-centric and financial product factories, modular and parameterized design, significantly enhancing the system's flexibility and business innovation capabilities. The use of parameterization and product factories enables rapid product customization, business innovation, and business combinations.

In addition to these three points, the BW Core System also excels in areas such as expanding core services, driving core system operations, enhancing customer experience, and increasing customer stickiness.

Addressing pain points in the current traditional banking business development and digital transformation process, the next-generation BW Core Business System will provide the core value of being 'simpler, smarter, and providing a superior experience' for banking digital transformation. According to Xinda Financial, the core system crafted with ultimate distributed design possesses characteristics of intelligence, openness, and a 'customer-centric' approach, capable of generating long-term business value.