Digital Transformation and Integration Project of the Enterprise-level Core System of China Eximbank Won First Prize in the 2020 Award for Fintech Development

2022-02-01

  In the winners list of the 2020 Award for Fintech Development unveiled by the People’s Bank of China recently, China Eximbank was awarded first prize with its digital transformation and integration project of the enterprise-level core system, domenstrating the Bank’s commitment to delivering effective operation and corporate governance, and making great strides in Fintech development.      

  Under the strong leadership of its Party Committee, China Eximbank, with extraordinary creativity and sense of responsibility, made every effort to establish an IT blueprint system that is based on the advanced practice at home and abroad. Arduous efforts were made in putting 189 subsystems into operation once for all, an record-setting achievement that empowers the Bank with Fintech. By fully applying IT into businesses, the project significantly improved the Bank’s business and technological performance and established a group of enterprise-level and component-based systems that facilitate the Bank’s business operation and internal management. The Bank has achieved a historic leap in its Fintech development by putting in place a well-functioning business management and process system. 

  Through business modeling, the project incorporated the Bank’s needs for business and daily operation into a framework that is structured, standardized and component-based. A four-dimension business model containing product, procedure, data and user experience was installed so as to provide digital support in a flexible manner. The project achieved the goal of integrating the Bank’s strategic development requirements and the characteristics of policy-based finance into the enterprise-level application architecture which is client-centered, component- and platform-based and service-oriented, and covers both the Bank’s policy-based and self-operating businesses at home and abroad with domestic and foreign institutions. In terms of the reform in business management and ledger accounts’ classification, the accessibility of concessional facilities, country risk management, asset valuation and depreciation appraisal, policy-based inclusive finance, and other areas related to automation, the Bank leads the way forward in advanced financial practice. By launching an innovative project targeting at rebuilding business procedures, restructuring business architecture, breaking new ground in key technology development, bringing new ideas to project management, optimizing institutional mechanisms, enhancing self-capacity and promoting talent training, the Bank improved its capability for serving China’s opening up to the outside world and the Belt and Road Initiative, and facilitating both China’s domestic development and its engagement in the global economy. 

  In the coming years, China Eximbank will improve its top-level design for Fintech governance, consolidate the IT blueprint achievements, and continue to optimize and upgrade the new system, so as to give full play to the role of Fintech in supporting and guiding business development, forge ahead with the digital transformation as is in line with the Bank’s 14th five-year plan, and make unremitting efforts to serve the real economy and facilitate the building of a great modern socialist country. 

  As China’s only ministerial-level Fintech award, the Award for Fintech Development represents the highest prize for the latest IT achievements in finance with an extensive influence in the financial sector.