In line with the central government’s strategic focus on balancing development and security while accelerating high-level technological self-reliance, Bank of China (BOC) has actively advanced its digital finance initiatives in recent years. Anchored by the principles of "risk prevention, foundational strengthening, and capability enhancement," the bank has prioritized 40 strategic projects to drive high-standard, high-efficiency upgrades to core business systems, group-wide technology architecture transformation, and public capability development.
Recently, BOC achieved a major milestone in its digital transformation by successfully completing its largest-ever batch deployment. The rollout involved 25 head office departments, 37 domestic branches, 15 overseas branches, and 54 external partners, achieving zero risks, zero errors, and zero delays. This marks a solid step forward in overcoming challenges related to core system architecture transformation and realizing "dual improvements" in both technical infrastructure and business services.
**Advancing Core System Transformation Domestically and Globally** Leveraging cloud computing, databases, and distributed technology platforms as its technical foundation, BOC is building a highly available distributed core banking system to eliminate single-point technical risks and dependencies. This ensures reliable business operations, reduces changeover times, and enhances continuity. Key achievements include: - Full deployment of domestic core system loans and pilot launches for personal deposits. - Successful rollout across 13 European and African overseas branches—the largest single overseas core system transformation in the industry—providing robust support for global expansion.
**Building Multi-Layered Terminal Security Defenses** The bank has integrated terminal access controls, sensitive data detection, and leakage prevention into a unified platform, covering its head office, 26 domestic branches, 7 subsidiaries, 1 overseas branch, and its European data center’s internet zone. This significantly strengthens terminal security management.
**Optimizing Infrastructure Layout** Through architectural and data center capacity optimizations, BOC reduced CPU cores by ~30%, memory usage by ~35%, and disk space by ~50%, enabling more efficient resource allocation.
**Deepening Public Capabilities** - A digital marketing hub was established, integrating data and strategy centers while linking channels like mobile banking, SMS, and smart counters. - Remote approval automation improved, with higher rates of fully automated transaction reviews. - Physical document management digitization cut monthly core voucher entries by 500,000, empowering frontline operations. - Payment systems transitioned from centralized to distributed architecture, slashing response times from 500ms to 60ms (~90% faster) and enabling dual-site redundancy for uninterrupted operations.
**Strengthening Key Business Areas** - Trade financing document services were upgraded under new corporate e-banking standards. - Payroll systems were revamped to unify domestic processes and expand overseas payroll coverage. - A fraud prevention system combining account limits, risk models, and centralized operations reduced scam-related losses, safeguarding customer assets.
**Enhancing Global Service Capabilities** - Overseas branches now support 24/7 transaction processing, meeting cross-time-zone client needs. - The global cash management platform enables cross-border funds settlement in seconds, pioneering a 24/7 clearing mechanism for Chinese institutions and aiding multinational corporations.
BOC remains committed to implementing the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the Central Financial Work Conference. By driving technological self-reliance and digital transformation, the bank aims to foster new productive forces, advance its five key financial priorities, and contribute to building China into a financial powerhouse and achieving modernization.
Comments