Murong Technology-Beijing MuRong Technology

The 2rd commercial bank in China

China Construction Bank( CCB) is the second largest state-owned commercial bank in China, with its headquarters located in Beijing. The main business areas include corporate banking, personal banking, and fund business, with branches and subsidiaries in 29 countries and regions.

Fintech challenges and opportunities

In recent years, with the rapid development of digital technology, financial technology( fintech) is rapidly reshaping the financial industry. Fintech has not only changed the operation of traditional banking, but also shaped new financial ecosystems. The core feature of fintech is digitization. Fintech companies provide services through online platforms which improve customer experience and reduce operating costs. The system architecture is open and agile, enabling faster roll-out of new products and services and making them more competitive. The innovative financial ecosystem has attracted younger generations of customers and potential traditional bank customers who are more willing to use digital financial products and services. Traditional commercial banks used to be the main providers of financial services, but now they have to face serious challenges and competition from fintech companies. The digital transformation is urgently needed.
At the same time, fintech also creates new opportunities for traditional commercial banks. The rapid digital transformation can take the lead in the digital financial field. By leveraging digital products and innovative services, bank can effectively improve customer experience, reduce operating costs, and increase profitability and competitiveness.

However, CCB faces technical and business challenges in the digital transformation process, mainly as follows:

How to avoid the huge costs, long cycle, and the risk of uncertain transition in the process of digital transformation?

How to Innovative business as part of internet transaction banking system?

How to achieve rapid integration of application scenarios with partners and ecosystems?

Therefore, the key to digital transformation depends on a set of agile, mature, efficient, and cost-effective digital banking solutions.

Why MuRong

As we all know, China Construction Bank is very strict and critical in selecting cooperative manufacturers, with two core requirements, first, whether the product functions are mature and stable, with complete functions. Second, Does it have a mature digital transformation experience for the large scale commercial banks, which can effectively avoid implementation risks, reduce input costs, and deliver the best digital banking system?
Of course, such criticism also comes from the sense of urgency to quickly launch digital banking and seize the market. After a series of competitions and selections, MuRong became the most ideal partner at last. MuRong's victory was due to the overwhelming advantage of its digital banking products and solutions, which fully meet CCB needs.

MuRong solution

MuRong DBS( Digital banking system) offers a secure, agile, open suite of products and solutions that help CCB deliver the best digital banking experience for their customers. CCB will get an attractive price-performance ratio for continuous business innovation and improvement of profitability.

Technical Advantages

Utilizes microservices, containers, and Kubernetes for seamless deployment, scalability, and resilience, enabling agile operations with continuous integration and delivery.

A mini-app framework and APIs enable seamless integration and the building of a financial ecosystem.

The integration of multiple digital channels, provides customers with a unified and consistent experience across all touchpoints.

Automated reconciliation, error processing, reporting, risk control, chatbot, and monitoring with automated alerts.

The system has multi-dimensional security protection capabilities to ensure system security.
Product Advantages

Comprehensive digital banking service, Includes account management, instant and scheduled transfers, personalized financial planning tools, overdrafts, digital payments, loans, and buy-now-pay-later options, catering to the needs of both individual customers and micro, small, and medium enterprises (MSMEs).

Transaction processing that meet the various industries, such as e-commerce, exchanges, transportation, education, consumer finance, and online lending.

A range of marketing tools, such as discounts, coupons, and rewards, combined with online and offline campaigns, cultivates a strong sense of connection and loyalty to your brand.

The product has intelligent risk control and meets regulatory requirements such as anti-money laundering, anti-fraud, blacklist.

Deliverables

At a Glance

A complete set of digital banking products and solutions
Innovation in online business processes
Standardization of API Management
Standardization of financial services by industries
Embedded financial components for different industry
BStandard process of integration

The digital banking products implemented by MuRong have been operating steadily and safely. By the end of 2022, the transaction volume of relevant businesses of China Construction Bank had exceeded one trillion yuan.

Benefits

Utilizing the architectural advantages of MuRong products, the complex monolithic large system of CCB is decoupled into a micro-service distributed architecture. In this way, the system's scalability is comprehensively enhanced and the operation capabilities of CCB can be expanded at any time to meet the growing business needs. The architecture design ensures the high availability and reliability of the core system, making it easier to win customer trust.

‘Green Field Model’, choosing an end-to-end digital banking solution, Smooth transition, rapid deployment and upgrade, seamless integration with existing core business systems and other third-party systems without disruption to business operations achieve low-cost, high-efficiency, and 0-risk digital transformation.

MuRong products provide comprehensive digital banking services, integrate with multiple digital channels, build unified APIs, and completes the construction of a digital financial ecosystem.

CCB improves digital marketing skills through automation and artificial intelligence, and achieves digital operation through the use of digital and analytical tools which bring operational industrialization and rapid growth in performance.

Through the intelligent integration of financial business scenarios, CCB enhances data processing and modeling capabilities, and builds an automated, real-time, and intelligent risk control management system, which significantly enhances risk control and management capabilities.

Future outlook

In the future, with the continuous expansion and maturity of the market, the business service capabilities of digital banks have only taken the first step. In the future, they will provide rich electronic account application functions for more industry application scenarios, as well as more practical, secure, and efficient financial services, empowering more industry customers.

Facing this broad and more challenging digital banking business, MuRong will continue to provide customers with protection and forge ahead.

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