Sunline and Huawei have released the Digital Loan One Box Solution — a global contactless solution for financial services, which will be rolled out across countries and regions, such as Southeast Asia, the Middle East, Latin America, and Africa, where financial inclusiveness is urgently necessary.
Launched at HUAWEI CONNECT 2020, Digital Loan One Box adopts an open strategy, allowing financial institutions to launch a wide range of contactless services, such as online loan product campaign, customer E-KYC, risk assessment, fund disbursement, and post-loan processing. The solution responds to the urgent need from both FIs and their customers for digital financial services. This requirement is ever more pressing amid the pandemic that many countries continue to battle.
As the cornerstones of national economies, financial institutions need contactless, digital, and online financial services, especially in the current situation. However, global banks face similar challenges in the course of digital transformation: huge costs and risks to replace legacy systems, limited budget and uncertain return on investment for transformation, lack of open business and technology experience, increasingly fierce competitions, and more demand of contactless service driven by the pandemic, etc.
Contactless finance refers to services where customers and banks do not need to interact face-to-face. Via Omni-channels, it supports plug-in-based services, built-in businesses, and out-of-the-box features.
The Digital Loan One Box Solution is built on Huawei FusionCube Hyper-Converged Infrastructure, adopting the enterprise-level microservices banking framework EDSP released by Sunline in 2020. The solution supports rapid, dynamic horizontal scaling on both the business and system demands. It also provides DevOps continuous delivery assembly line to meet the increasingly agile development requirements of financial institutions.
Contactless banking services make banking much more convenient, while remaining user-friendly, timely, and professional, leading to better customer satisfaction, retention, and loyalty. The interconnection of the financial ecosystem serves boosts market share and reputation of financial institutions. The solution also offers cost-effective TCO that meets their investment expectations.
Digital Loan One Box delivers performance of utmost speed in the following areas:
- Real-time remote account opening and biometric identity authentication via multiple approaches (MFA)
- Quick online loan origination, approval, and fund disbursement (three-minute application, one-second loan approval, and zero manual intervention)
- Real-time formulation of promotions and marketing campaign
- Flexible post-loan processing, immediate loan extension evaluation
- Real-time account information update and non-stop services
- Quick access for ecosystem partners via standard open APIs
- Highly standardized products in which customers can easily understand
- Fast deployment which can go live within two months
“Amid the ongoing pandemic, the solution comes at the right time for financial institutions. It can satisfy the demands of efficient lending and loaning for both financial institutions and customers during such special times. Within this industry, we will continue to develop a global ecosystem and scenario-based solutions from 2C to 2B with global partners,” said Jason Cao, President of Global Financial Services Business Unit, Enterprise Business Group at Huawei.
“Together with customers and partners in the industry, we will start with 5G and seize the opportunities across five major tech domains — connectivity, cloud, computing, AI, and industry applications. Ultimately, we will provide scenario-based smart solutions and technologies to facilitate the digital transformation for financial customers.”
Hongan Li, Senior Vice President of Sunline, added,
“Sunline is a global banking IT service company. We keep innovating to lead in FinTech and enrich the interconnection of life. During COVID-19, we realized the urgent need for technological innovation, digital services, and open financial services global wide. In light of this, Sunline and Huawei are now launching the Digital Loan One Box Solution. The solution is designed for financial institutions and customers, especially for those lacking technology capabilities.
It is based on Sunline’s enterprise-level microservices framework for banks. The agile platform features high flexibility, loose coupling, high performance, and distributed deployment. It meets the dynamic horizontal scaling requirements of financial institutions of any size at both the business and system demands. Our aim is to provide a solution that is practical and helpful in this extraordinary time.”
