IPACS Advanced Banking System
Under the influence of the international financial crisis, in order to improve the international competitiveness and the risk resistance ability of the financial sector, Chinese government is encouraging banking industry market-oriented reforms including interest rates liberalization, product innovation and risk management. Under these special circumstances, IPACS developed Advanced Banking System (ABS) by introducing a highly qualified foreign expert with 30 years banking IT service experience. ABS was developed under the concept of ‘customer centric, interest rates and rates liberalization, financial product innovation, comprehensive risk management, business process optimization and reconstruction’. ABS is a flexible. and secure core business system on advanced technology architecture with the features of centralized data, trading and clearing, multi-currency 24*7 trading to meet China banks' latest requirements. ABS has been implemented both for Zhejiang Rural Credit Union in 2006 and Shunde Rural Union Bank in November 2012.
● Advanced architecture, modulized design
● Efficient trading platform and batch processing platform
● Customer-centric, customer relationship-oriented, customer information protection and single view regardless of customers and channels
● Support multi-level legal entities, multi-level corporate ledger establishment
● Support floating rate market, customers can easily set up multi-level legal benchmark interest rate, floating rate and a variety of base rate and floating rate.
● Quick creation of financial products and product portfolio features in order to meet different customer needs and rapid market expansion.
● Integrated credit card module, supports flexible card management mode, a variety of interest-bearing and accounting methods
● Comprehensive risk management, including credit risk and operation risk.Auditing service for system unified limit controls, flexible authorization, review, early warning functions.
● Appropriate parameter design and parameter reuse design improves the efficiency of application development and reduce future maintenance costs.
● Integrated with iTools which is an application development tools module self-developed by IPACS. iTools greatly improves the efficiency of new module development and customization, it supports programming, programming template, code generation, testing, version management, on-line management and automatic documentation generation.
● Achieving load balancing which can support over 500 million transactions daily and response time of 300 milliseconds or less by adopting Pre-start job, job pooling and job priority technology.
● Hardware platform: IBM Power i Series