WeBank boosts Fusion Bank to launch next-gen Core Banking System

By Gloria Mathias

Fusion Bank in Hong Kong has launched its next-generation core banking system following a series of successful data migration and business validation.

Built on WeBank’s digital banking technology framework, the new system brings benefits that enhance operational efficiency and enable the bank to adapt swiftly to market changes, laying a foundation for future innovation and business growth.

The project marks a key achievement in the September 2023 partnership between WeBank and Fusion Bank. It showcases the success of cross-border FinTech collaboration between Shenzhen and Hong Kong.

To enhance its digital services and achieve sustainable business growth, Fusion Bank launched its new core banking system project in December 2023 with support from WeBank. Aligning with Fusion Bank’s new business strategy, the project encompassed over 150 subsystems across five core banking areas: retail deposits, retail loans, corporate deposits, and foreign exchange services.

In compliance with regulatory requirements and market standards, WeBank leveraged its proprietary, secure digital banking infrastructure technologies to integrate and transform the 150 subsystems within just 10 months.

Amid the global wave of digital transformation in the financial sector, institutions are increasingly turning to digital solutions to enhance customer experience while reducing costs and improving efficiency. Driven by customer demand, the digital finance solutions market is evolving toward more open technological frameworks, flexible deployment models, and diverse partnership opportunities. WeBank’s successful support in the launch of Fusion Bank’s next-generation core banking system not only demonstrates the continued effectiveness of WeBank’s digital banking infrastructure in the international market but also offers a valuable reference for accelerating core system upgrades and advancing digital transformation in Hong Kong’s financial sector.

Moving forward, WeBank Technology Services will leverage WeBank’s extensive experience in FinTech and the successful deployment of Fusion Bank’s core system to offer digital banking solutions to financial institutions undergoing digital transformation in Hong Kong and globally.