Entering the Chinese Personal Finance Market

The customer for the project is a leading provider of financial services to consumers and retailers in 47 countries around the world. In the situation that China would open whole personal finance market in 2006, it i's very important and emergent for the customer to build a powerful and flexible online business system to deal with applications before 2006.

DGT holds technical expertise in Java, Domino, Applinx and V+. DGT also employs a subject matter expert with over 10 years of bank experience. Partnering with the customer in project, DGT assisted in the critical development of the new business technology and system integration, design for user adoption, integration with the customer service, and round-the-clock ongoing application support and maintenance. DGT was able to rapidly design and deliver a system to the customer in Jan 2005.

The developed system is a web-based application system for bankcards and sale finance products. To meet the financial business need, the system offers the following functionality:

• Flexibility in workflow adjustment by parameterizing
  Since it would be a system building in a new and expanding market, the system provides the flexibility in adjusting the processes for various products. Adjustable parameters afford the client to be flexible as the business needs change. The end user can easily modify the workflow, add/remove displayed form fields, add/remove/modify verification criteria, and add/remove/modify values of all dropdown lists when needed.
• Single platform for all products
  Even if the back-end system would change in the future, the front end system endures as the gateway for end users. The system is able to connect with related core systems and support systems as well as external interfaces.
• Risk control
  As we know, personal finance business is a complex business with high risk. The developed banking system provides a simple and effective management tool in risk control to gain maximum benefit. The end user can define criteria for verification of most stages in the application running cycle. Plus, junior analysts can refer suspect applications to senior analysts in most of stages.
• Interface with core systems, including V+ CDM.
  The V+ CDM is currently the core back end system for developed front end system by DGT. Applications are sent to V+ CDM for scoring and account setup. Also, Applinx is used as the middleware. The customer service system is also connected to the database for data extraction and reporting purposes. Regardless of the back end systems, the developed front end interface was designed for maximum flexibility, so that it would be compatible in the case that the other back end technologies are used in the future.
• Query/Report for decision maker
  With the Query/Report module, decision makers are able to handle the workload of processing and referring applications. They can also create statistics covering success rate, fraud rate, fraud reason, etc.

In keeping with our commitment to delivering high quality product and service for a reduced cost, DGT has established offshore support and maintenance for the application.

The current system allows the customer to effectively manage the personal banking application process. The ability to interface with other banking institutions to determined high risk applicants has help lower the cost of bad loans. Impressed by the professionalism of DGT and delivery of the system on time and within budget has encouraged the customer to continue the relationship with follow on work to expand the functionality and user base for the finance management system plus other projects.

To see how DGT can deliver for you, contact us.