Recently, the new-generation core system project cluster for Lao-China Bank, constructed by the leading fintech service provider Hi Sun Fintech Global Limited(HSG in short), was successfully completed and went live. This project accomplished a comprehensive replacement and upgrade of the bank’s legacy core system, establishing a complete digital financial platform covering core banking, electronic channels, payment and settlement, risk management, and more. This milestone not only marks the bank as the first among its peers in Laos to achieve a revolutionary leap from “counter-centric” to “full-channel digital” operations but also sets a new benchmark for HSG in facilitating technological innovation for overseas banks.
Breaking New Ground: Moving Beyond Counters, Embracing the Digital Age
Lao-China Bank had long relied on a traditional core system supporting only counter channels, facing significant challenges in operational efficiency, customer experience, product innovation, and risk control. This made it difficult to meet the growing demand for digital financial services and the competitive market landscape. This large-scale project aimed to create a modern, intelligent, and scalable new-generation banking system for customers through a complete “end-to-end” solution.
Acting as the total integrator and core system provider, HSG delivered and implemented nearly twenty critical system modules. These included the Core Banking System, Unified Payment System, Special Business Systems (cross-border trade, utility bill payments, etc.), Third-Party Channel Front, Corporate Internet Banking, Personal Mobile Banking, Teller System, Scheduling Platform, Content Management Platform, Reporting Platform, Notification Platform, Report Management System, Debit Card Front, Anti-Money Laundering System, and Monitoring Platform. This achieved comprehensive coverage of the bank’s front-office business, mid-office support, and back-office management.
Rebuilding the Core: Establishing New-Generation Digital Bank’s “Full-Stack” Capabilities
Faced with the complex task of building omnichannel, multi-service systems from scratch, the HSG project team demonstrated exceptional planning, integration, and delivery capabilities:
- Strengthening the Foundation, Fortifying the Core: As the “heart” of the new setup, the new-generation core system adopts an advanced architecture characterized by high cohesion and loose coupling. It enables parametric and modular processing of deposits, loans, settlements, and other services, laying a solid foundation for rapid product innovation.
- Integrating Channels, Empowering Experience: The simultaneous launch of Corporate Internet Banking, Personal Mobile Banking, and a new Teller System fundamentally changed the historical reliance on counter transactions. Combined with QR Code Payments, facial/fingerprint biometric authentication, and Soft/Hard Token security tools, it provides customers with 24/7, multi-channel, convenient, and secure financial services.
- Enriching the Ecosystem, Supporting Business: The Payment System and Third-Party Channel Front integrated internal and external payment chains. The Special Business Systems support scenarios like cross-border trade settlement and utility bill payments, enabling rapid integration into the local digital life ecosystem.
- Strengthening Risk Control, Ensuring Operations: The newly built Anti-Money Laundering System and Monitoring Platform established a comprehensive, multi-layered risk control framework covering in-process and post-event monitoring, fully meeting compliance and internal management requirements. The Scheduling Platform, Content Management Platform, and Reporting Platform provide robust support for operational management.
Demonstrating Value: Comprehensive Enhancement from Operational Efficiency to Market Competitiveness
The successful launch of the new system has brought transformative changes to Lao-China Bank:
- Leap in Service Capability: Upgraded from counter-only services to an omnichannel system encompassing “Counter + Internet Banking + Mobile Banking + QR Code Payments,” significantly expanding service reach and availability.
- Doubled Operational Efficiency: Streamlined and automated business processes have significantly improved transaction processing efficiency and substantially reduced operational costs.
- Accelerated Product Innovation: Flexible parametric configuration allows for rapid launch of new products, such as QR code payments and online bill payments, greatly enhancing market competitiveness.
- Qualitative Change in Risk Management: Transitioned from traditional manual supervision to systematic, automated monitoring, achieving a qualitative leap in risk control capabilities.
- Revolutionized Customer Experience: Customers can now conduct transactions anytime, anywhere, enjoying convenient and secure modern financial services, leading to a significant increase in customer satisfaction and loyalty.
Collaborative Win-Win: Setting a New Benchmark for Financial Institution Digital Upgrade Partnerships
The successful deployment of this project once again validates HSG’s strong capabilities in the fintech domain, particularly in the full-stack delivery of core systems. It has accumulated valuable experience, especially in supporting the high-quality development of the local financial industry and facilitating digital upgrades in overseas markets. In the future, HSG will continue to uphold the philosophy of “Becoming the High-Value FinTech Partner for Our Clients,” empowering more financial institutions worldwide to achieve digital transformation and succeed in the digital future.
About HSG:
HSG is a leading enabler of financial digital transformation, providing global financial institutions with one-stop, digital, and intelligent fintech solutions and services covering core systems, digital banking, internet finance, big data, and risk management.
About Lao China Bank:
The first Sino-Laotian joint venture commercial bank, dedicated to supporting local socio-economic development and providing comprehensive financial services.
