Customer profile
Bank of Nanjing was founded on February 8, 1996. It is a joint-stock commercial bank with independent legal entity status. As of the end of 2020, its assets totaled approximately CNY 1.62 trillion. The bank's vision is to become a first-class comprehensive financial service provider for small and medium-sized banks in China. Bank of Nanjing has consistently pursued specialized and high-quality growth, which has led to steady business growth, improved operating efficiency, stronger risk controls, stable asset quality, and enhanced fundamental management.
Business challenges
New Internet technologies are pushing traditional banks to transform faster. As a result, banks are adjusting their platforms, products, management, and strategies, marking a new fintech revolution in the industry. After its assets surpassed one trillion CNY, Bank of Nanjing embraced Internet finance and big data. It used fintech to drive its transformation and faced the following challenges during this process:
The exponential growth of new business created high demands for concurrency and big data management, requiring the system to improve its business support capabilities quickly.
Traditional monolithic architectures were expensive to scale and had slow response times.
Over-reliance on the database for transaction atomicity, consistency, isolation, and durability (ACID) made the database a scaling bottleneck.
The system architecture and development model needed to adapt to Internet scenarios to integrate the bank's core products with consumers, businesses, and industry peers, enabling rapid integration, quick launches, and fast iterations.
Solution
In 2017, Bank of Nanjing adopted Ant Group's financial-grade distributed transaction architecture. This architecture included the Scalable Open Financial Architecture (SOFAStack), the OceanBase distributed database, and big data platform capabilities. The bank used these technologies to build a new Internet finance core. In November 2017, it launched the "Xinyun+" Internet finance platform.
Customer value
The new platform introduced a "1+2+3N" cooperation model. This model includes a fully managed mode, a traffic-driving mode to direct customers to member banks, a capability sharing mode for risk and asset management, and a product cooperation mode for joint loans and wealth management products.
The new platform is built on SOFAStack and the OceanBase distributed database. This enables a complete upgrade to a distributed architecture, which transforms system construction, R&D models, and O&M.