Industry news: Ant Financial unveils banking platform

Ant Financial Services Group and Hoperun Information Technology have created a Distributed Core Banking Platform (DCBP), to help financial institutions shift their business models from transaction to customer-focus.

The China-based organisations said the DCBP is a “next generation banking product” that aims to help financial institutions tackle digital challenges, including distributed development, financial product management and accounting liquidation.

“This is just the first of many collaborations that we plan to form with other talented partners that will enable us to provide better technology solutions to the challenges faced by financial institutions,” said Ant Financial’s vice president Liu Weiguang.

The DCBP is the first co-developed integrated solution in Ant Financial’s technology product portfolio. It has successfully completed the pilot stage after running in the core computing systems of several banking partners.

This new product builds on the BPASS (Business Platform as a Service) product the company launched in September 2018. BPASS covers product management, asset management, capital verification and full-link pressure tests.