On November 25, the People's Bank of China officially announced the winners of the 2024 FinTech Development Awards, with Shanghai Pudong Development Bank (SPDB) securing four accolades. Among them, its "Credit Card Core System Reconstruction and Distributed Construction Project" was awarded the first prize.
The FinTech Development Awards represent the only ministerial-level technology accolade in China's financial sector. Established by the People's Bank of China in 1992, the awards rigorously recognize industry innovation benchmarks across banking, securities, funds, insurance, and other financial domains. With widespread authority and influence, the winning projects exemplify the highest standards of financial technology innovation in China. This year, nearly 700 submissions were evaluated, and SPDB stood out amid fierce competition, earning industry-wide recognition for its digital and intelligent transformation achievements.
The first-prize-winning project, "Credit Card Core System Reconstruction and Distributed Construction," aimed for an innovative "full-stack + full-scale" architectural transformation. Aligned with national strategies for technological self-reliance and independent controllability, the project developed a 100% cloud-native distributed credit card core system, achieving breakthroughs in both technical and business architectures.
Technically, the project overcame architectural barriers by integrating four key transformations—mainframe migration, distributed architecture, cloud-native adoption, and full-stack independent controllability—in a single initiative. Additionally, it introduced an innovative business architecture model, enabling 86% of requirements to be deployed with "zero coding" through visual interface configurations and pre-built components, significantly accelerating application delivery.
On the business front, SPDB pioneered a "real-time unified control system," ensuring consistent service experiences across online, offline, self-service, and manual channels through centralized strategy formulation and execution. The bank also established a real-time, end-to-end account processing system, enhancing user profiling and scenario-based credit card analytics. These advancements improved operational efficiency in areas such as card applications, flexible credit adjustments, promotional activities, and benefit utilization.
Notably, the project provided over 140 product-level practices for domestic technology adoption, setting a benchmark ("SPDB Model") for large financial institutions implementing distributed core systems under independent controllability requirements.
In this year’s awards, SPDB also claimed second and third prizes for its "Enterprise-Level Knowledge Asset System Based on Multimodal Large Models" and "Innovative Practices in 'Sperm Whale' FinTech Digital-Intelligent System," respectively. Additionally, SPDB’s subsidiary, SPDB AMC, received the "Micro-Innovation Award" for its "Financial Innovation Scenario Incubation Platform Integrating Generative AI and Physical Spaces," recognized for its pioneering AI application model and implementation results.
These achievements reflect SPDB’s sustained commitment to financial technology innovation. In recent years, the bank has prioritized independent R&D, advancing its "Digital-Intelligent" transformation through robust digital infrastructure, products, operations, risk management, and ecosystem development. By deepening the integration of digital technologies with financial services, SPDB continues to enhance the impact of fintech on business growth.
Moving forward, SPDB will leverage these awards as a springboard to further drive digital-intelligent transformation, empowering all business lines, processes, and operations with fintech solutions. This strategy aims to elevate efficiency, quality, and profitability while fostering a growth model driven by digital intelligence, providing strong momentum for the bank’s high-quality development.
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