Hong Kong,, May 26, 2025 / Prnewswire / – On May 22During the TAB Global Finnish Technology Innovation Awards 2025 ceremony held by The Asian banker (“Tab”), Webank Technology Services and Fusion Bank jointly received the Best basic banking technology initiative (small bank) Asia-Pacific For their collaborated project of a new generation basic banking system.
The Global Finnish Technology Innovation Awards TAB is one of the most prestigious comparative analysis prizes for leadership and technological innovation performance in the global financial services industry. The best basic banking technology initiative specifically recognizes institutions with exceptional technological progression in basic banking systems. It is the first time in three years that a Hong Kong Digital Bank won the Global Finnish Technology Innovation Awards TAB, indicating the technological leadership of the collaborative success of the project.
The award -winning project has been launched to improve digital merger Bank service capacities and meet its needs for innovation and commercial profitability to ensure the sustainable development of the bank. The project has covered the upgrade of more than 150 subsystems on five main areas of activity in the merger bank, and was completed with fast coverage in just 15 hours. Data in systems inherited from various suppliers were migrated transparently towards the new basic banking system within six hours. Supported by Webank Technology Services with its main banking system solutions, the project has established a new reference in upgrading the banking system for the banking sector in Hong Kong.
Taking advantage of the distributed architecture design of Webank Technology Services, the improved system can now evolve on demand according to the growth of the company, resolving the previous painful points of a high initial computer investment. In addition, it still improves commercial agility and shortens the marketing time for new products, through set-up products, process orchestration and AI-Native capacities. Once the new system is online, the products development cycle of the merger bank has been reduced by an average of six months to three months, with non -human costs which should be reduced by 53% by 2027. In particular, the new system is largely compatible with software and traditional hardware, offering the advantages of opening and technology.
The Asian banker Underlined: “Webank Technology Services and Fusion Bank have demonstrated an exceptional innovation thanks to the successful execution of this technological initiative, effectively meeting the current and future commercial needs while improving service capacities.
Billy ChiuDirector of merger bank technology, said: “We are really honored to be the only ones Hong Kong Digital bank receiving this price in the past three years. This is significant recognition for Fusion Bank and Webank technology services. The upgrading of our new generation basic banking system shows our continuous commitment to advance financial inclusion through fintech, which makes our banking services more accessible and effective for a wider segment of the community. “”
As a Fintech Fintech in exclusive ownership of Webank, Webank Technology Services operates the main practices of the parent company in digital banking, focuses on the supply of digital financing and digital infrastructure solutions in the world. Currently, Webank Technology Services extends its partnership with several institutions on markets such as Hong Kong Sar,, Indonesia,, Thailand,, Malaysia And Qatar.
About Webank technological services
Launched in Hong Kong In June 2024Webank Technology Services aims to take advantage of the advanced Webank FinTech Consultant’s Capacities of Webank and best digital financing practices to provide a variety of digital financing solutions and digital infrastructure superior to digital banks, financial institutions, government agencies and industry partners in the world.
About Webank
Created in 2014, Webank Co., Ltd. (“Webank”) is the first digital bank of China. Webank provides practical financial services to micro, small and medium (MPME) and public companies, and continuously improves the quality of services in response to the specific customer needs. Webank has served more than 420 million retail customers and 5.8 million companies.
Webank was the pioneer of the development of the first new generation basic banking system entirely distributed in the world using standardized hardware and open source software. It maintains an exceptional availability of the 99.999% system with a peak daily transaction greater than 1.4 billion, while the cost per annual IT account of the S&M remains as low as low 0.3 USDOnly a tenth of the industry average.
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Source Webank Technology Services
