Bank of China, the largest trade finance bank in China, has gone live with its online banking system powered by Customer Enterprise, the front end solution of China Systems, the leading global trade finance solutions vendor in the industry and partner to many banks around the world.
Bank of China, known for having one of the highest trade finance transaction volumes globally, already uses China Systems’ flagship Java EE –based product Eximbills Enterprise as its trade finance back office solution.
Bank of China is the first bank in China to use Customer Enterprise, whose short implementation period is a major feat considering the highly complex requirements of the bank and is a testament to the flexible design of the solution. Bank of China is also a long-standing customer of China Systems and the first to use the AS/400 Eximbills trade finance solution in China.
Using the newly launched online system, which integrates its GTS (Global Trade System) and Customer Enterprise through an intermediary platform, Bank of China is able to meet its customers’ stringent internet banking requirements for its trade, guarantee, factoring, forfeiting, and supply chain finance processing needs. The bank’s customers now have a convenient and safe single window for processing and enquiring on all their trade finance and supply chain activities. Such an effective system facilitates straight through processing, reduces security issues in cross border trade and allows earlier active settlement of payments for goods and services provided.
While meeting current demands for process standardization, and addressing highly complex business requirements and large data volumes, China Systems’ business model differs from others by providing value-added personalized services for different customers using the inherent flexibility of the Customer Enterprise solution.
This is clearly shown in Bank of China’s online-banking system that has been set up for China National Petroleum Corporation, one of the bank’s important core clients, and is now operational. This joint effort has established seamless proactive data integration between the bank’s online-banking system and the client’s ERP system via the intermediary platform. The system has formed extensive on-line banking services and has created more business opportunities for Bank of China.
With the successful launch of this online system, Bank of China has begun using Customer Enterprise with a platform via SOA integration to provide its customers with online access to other banking businesses connecting to its legacy systems. To address Enterprise internet banking demands, Bank of China now uses Customer Enterprise to provide a similar online system with seamless integration to other legacy applications of the bank, making Customer Enterprise its standard online integrated banking solution.
Using China Systems’ cutting edge front end solution, Bank of China is able to deliver premium services to all its customers worldwide.