A Partnership that Promises a Vigorous and Promising Future
Brillink bank, a subsidiary of China Brilliant Global Limited, has collaborated closely with HSG on the entire product development and design, as well as the formulation of unique financial services solutions to ensure an effective and successful trial launch in August 2021 and a full business launch in January 2022, as well as one-stop supply chain finance services to its customers in Central Asia and the rest of the World with modern, stable, and sophisticated technology and a successful digital transformation to its business operation.
With a license issued to Brillink Bank Corporation Limited by the Astana Financial Services Authority (AFSA) to operate in Kazakhstan's Astana International Financial Centre (AIFC), it is a reasonably new bank established in December 2020 to fulfil high ambitions.
Brillink Bank's Possible Concerns
As part of HSG’s commitment to a continual program of innovation and development in conjunction with its clients, they harness their deep-rooted strengths in the Core Banking sector to support them in rolling out system upgrades and digital transformation initiatives.
Brillink’s B-end business spans the complete supply chain, primarily for high-quality customers in the 5G and ICT industries. There are some distinctions between the integrated financial model that incorporates more common individuals and SME audiences in the market and the more exclusive the financial model that integrates with, the more exclusive individuals and SME audiences in the market.
Here are the concerns Brillink Bank shared with HSG regarding the partnership to form the World’s first digital bank specializing in supply chain finance:
- To complete this vital project on schedule and within the mutually agreed-upon amended timeframe notwithstanding the impact of covid limitations.
- The bank requires a one-stop-shop for comprehensive IT consulting and system integration.
Brillink Bank Expectation From Its Partnership With HSG
The Digital Banking Core System, the Open API management platform, the Anti-Money Laundering system, and the Supervisory Reporting System are some of the recent projects of HSG.
This made them the obvious choice for a partnership with Brillink Bank. They had the following expectations from this collaboration:
- Bring Brillink Bank products to the market quickly
- A comprehensive makeover of the core banking infrastructure (including an interface with their local anti-money-laundering systems) and digital channel solutions
- Keep the project cost-effective and easily expandable
- Make the bank a one-stop-shop for supply chain finance solutions
The HSG Solution Leading World's 1st Digital Bank Specializing in Supply Chain Finance
Cooperating with Brillink bank, HSG formed a special team practiced their expertise and knowledge in banking domain. In addition, and most importantly, HSG constructed a Solution Integration team with qualified capabilities, vast experiences, and in-depth knowledge of the banking industry thus to guarantee a successful implementation. The variety products and services HSG has brought to Brillink Bank are:
Core Banking System (customers, deposits, loans, money market, foreign exchange, general ledger, business platform), Loans Origination System (LOS), Credit Limit & Collateral System, Message Management System, General Reporting System.
Personal Mobile Banking, Personal Internet Banking, Corporate Mobile Banking, Corporate Internet Banking, Online Account Onboarding Platform, Integrated Branch System, Channel Integration Platform, Payment Gateway Platform.
The goal is to help clients achieve higher growth and healthier cash flow management and deploy personalized import or export supply chain financing solutions to satisfy their business needs. HSG’s services have enabled Brillink Bank to become a trailblazer among many digital banks seeking to develop end-to-end business capabilities.
Critical Project Timelines
The implementation of the Brillink Bank project went as planned and on-time, completing in 6 months’ time with the following critical timelines.
- Project Kick Off, Jan 2021.
- Completed Requirements Analysis and Implementation Planning Studies, Jan 2021.
- Completed SIT, Mar 2021.
- Completed UAT, Apr 2021.
- System Go Live, Jun 2021.
HSG Value Proposition
Kazakhstan has plans to make AIFC a prominent financial center in Asia and an important offshore RMB center, as a part of China’s “One Belt, One Road” initiative. As a result, after its launch, the digital bank for supply chain finance enjoys considerable location investment and market competitive advantages.
Brillink Bank is one of the few fintech companies that will launch digital banking at the AIFC and get full licensing for deposits and loans, making it one of the most innovative in its niche.
Their digital banking operation is anticipated to prioritize grabbing market opportunities, swiftly extending the company’s sources of revenue, and expanding the vision for CBG to the market in light of this project.
CBG’s strategic planning for the digital bank business has the potential to generate a high level of synergy with the Group’s current supply chain business.
The partnership of HSG and CBG will support that cause as HSG’s value propositions align with banking regulation and trends in Kazakhstan.
HSG has been in business for more than two decades, and it has completed a large number of projects both in China and around the World. HSG specializes in offering “turn-key” solutions and digital transformation services for the Financial Services Industry (FSI).
Following HSG value propositions offer scalability to digital banking in Kazakhstan:
- Increase the agility and flexibility of day-to-day banking procedures and workflows.
- In-depth knowledge of the regional market and regulatory needs.
- A robust parameterized core banking app backend from China, as well as extensive international deployment expertise with some of the World’s major financial institutions.
- A comprehensive array of digital banking services, enabling virtual banking experiences, and a quick onboarding procedure that takes no more than 15 minutes for international consumers.
- Depositors are favorable deposit rates to manage their investments better.
- One-stop supply chain finance solutions with a wide range of functionalities for business customers.
With the collaboration of Hi Sun Fintech Global to CBG’s digital transformation project, a new world is opening up to its consumers. The innovative solution will cater to the consumer’s need for digital banking services in the middle of changing World.
HSG’s high-end services have brought substantial improvements to China Brilliant Global Limited’s services, making it the World’s first digital bank in supply chain finance. While HSG has already made a significant contribution to the World of banking and financial institutions, this partnership has marked a new milestone.