IB to Launch New Generation Core System This Weekend: Support 100 Million Transactions in A Single Day

Industrial Bank (IB) announced recently that it scheduled to upgrade its core business system from Apr 16 to 17, 2016. During the period, except for credit card consumption and quick payment, all other business will be suspended temporarily. Specifically, inter-bank transfer and remittance will be suspended from 6:00 on Apr 16 to 22:00 on Apr 17; counters and self service channels (including but not limited to online banking, mobile banking, WeChat banking, SMS service, self-service voice guide of phone banking, direct bank, Money Manager, self-service deposit/withdrawal at ATM, self-service pass, VTM, POS consumption of wealth management card, transfer and online payment) of various outlets will be suspended from 7:00 on Apr16 to 22:00 on Apr 17, and networked cooperating channels will also be suspend for IB related services. It is suggested that clients in need of capital may plan in advance and conduct related businesses before or after the updating session.

As one of the few domestic banks capable to research and develop core business system, IB's core business system, characterized by independent IP and technology patent, was launched in 2003 and upgraded to V2 in 2011, which provides a solid support for the fast and steady development of various businesses of the bank. To adapt itself to business development and market conditions, especially interest liberalization, finance diversification and internet-based finance, improve management efficiency and meet increasingly diversified demands of clients, IB officially launched the V3 core business system project on June 2014, which would last for 1 year and 9 months. It is introduced that, compared with V2, the new system strengthens 'client centered' concept and focuses on flexible allocation of products and market response speed. Therefore, it will provide more stable, convenient, safe and quality services for clients. One point to speak of, with the new system, the processing capacity of IB's core business system will leap from 10 million transactions to 100 million transactions per single day. By constructing a multi-layered and multi-dimensional interest execution system, accessing rich product parameters and properties, extending horizontal payment and settlement platform and optimizing processing flow of new businesses, the new system has established solid technological basis for its business innovation, professionalized operation, intensive management, scientific management and lean marketing.

The reporter learned that, to guarantee a successful launch, the bank has organized 6 rounds of system tests and 5 rounds of simulation drills to repeatedly test and verify the system and related systems, and also worked out solutions and emergency continuity plans, thus ensuring a safe and smooth upgrade.

It is also introduced that, during the period of system upgrading, operators of 24h unified nationwide service hotline 95561 will continue to provide consultation service. So in case of any question, please call 95561.

Annex: Main businesses that IB reminds customers to give attention to during the upgrading of the core business system

1. Businesses regarding transfer and payment

Notes: inter-bank transfer and remittance will be suspended from 6:00 on Apr 16; other transfer business will be suspended from 7:00 on Apr 16 to 22:00 on Apr 17. The scheduled transfer triggered via online banking during Apr 16 to 17 will not be conducted during the upgrading and will be handled after the upgrading. The scheduled fee payment triggered during Apr 16 to 17 will not be conducted during the upgrading and will NOT be handled after the upgrading. Customers who cannot go through transfer business may not be able to handle fund circulation, repayment of credit card, and various businesses regarding loan repayment and payment.

It is recommended that such customers may go through various transfer businesses in advance, especially scheduled payments. Customers are suggested to initiate such businesses manually in advance or handle them after system upgrading.

2. Bank card consumption

Notes: During the period of system upgrading, consumptions by swiping IB credit cards and/or quick payment will not be influenced, but consumptions by swiping IB debit cards are not available.

It is recommended that customers may use IB credit cards, cards of other banks, or prepare cash in advance.

3. Businesses regarding online payment (incl. mobile payment)

Notes: during the upgrading, the online banking, mobile banking and WeChat banking will be suspended temporarily, and customers cannot use IB debit cards for any online payment (incl. mobile payment), or handle such services as internet purchase, agency payment, and mobile phone recharge. The quick payment will not be influenced, but online payment by credit card that needs to access our bank's gateway will also be suspended.

It is recommended that customers may bypass the period of system upgrading when handling such services as internet purchase, agency payment, and mobile phone recharge, or use other method of payment.

4. Businesses regarding withdrawal and deposit

Notes: During the period of system upgrading, customers cannot withdraw or deposit money with IB debit cards in IB or other banks (including outlet and self-service facilities), nor withdraw or deposit money with IB credit cards in IB. Customers of bank-bank platform cannot withdraw or deposit money through IB.

It is suggested that customers may, according to their own needs, prepare sufficient cash in advance, or transfer funds to the cards of other banks temporarily. Customers are still able to withdraw cash at ATMs of other banks with IB credit card with the commission charges identical to other banks.

5. Agency of precious metal trading of Shanghai Gold Exchange, personal firm offer foreign exchange trading and foreign exchange margin business

Note: During the period from 07:00 on Apr 16 to 22:00 on Apr 17, the agency business for precious metal trading of Shanghai Gold Exchange will be suspended, such as enquiry, transfer-in and transfer-out, withdrawal of real gold, and account opening and cancellation. It is suggested that customers may adjust positions and transfer funds before the night market of Shanghai Gold Exchange is closed on Apr 15.

The personal firm offer foreign exchange trading and foreign exchange margin businesses will be suspended temporarily from 07:00 on Apr 16 to 22:00 on Apr 17, including trade client login, business enquiry and fund transfer. It is suggested that customers may adjust positions and transfer funds in advance.