Shanghai Bank innovates with a one-stop agency business platform.

Case Description

As technology continues to develop, payment methods have gradually become more diversified over time, and diverse and convenient transactions have brought about processing complexity in the system architecture. Among these diversifications, agency business has become an increasingly important part of banks. Agency business refers to the business in which commercial banks accept the entrustment of customers to handle the collection and payment of funds designated by customers, provide financial services and charge a certain fee, that is, using the credit functions of financial institutions to cooperate with deposits. To promote the loan business, this system provides customers with more services to meet customer needs and gain customers' centripetal force. Shanghai Commercial Bank aims at this trend and builds an excellent one-stop collection and payment service platform for corporate customers to meet their needs. The financial technology team of Pershing Technology Services takes the user's perspective as the starting point to integrate the main collection and payment services of corporate customers, and provides cross-bank real-time authorization verification and transfer functions through the two clearing units of the Securities Exchange/Finance Company. There are also regular batches of authorized verification documents and collection and payment of entire batch operations services, as well as related query and report functions. Assist Bank of Shanghai to build an "Agency Business Operation Integration Platform" and develop agency services such as authorized verification data control and transaction limits. We can see an increase in Online and Batch operation integration, and automatic withdrawal from the stock exchange. Shanghai Commercial Bank uses this system to meet the collection and payment business needs of corporate customers, significantly reducing manual work processes, connection time and overall maintenance costs, reducing the time-consuming exchange of information on related accounts in the past, and integrating multiple diversified products into a one-stop platform. The operation process serves as a single service entrance, while meeting the convenience of future related business expansion and introduction.