Industrial Bank (IB) announced on the 13 th that it planned to upgrade its core business system from October 22 to 23, 2011. During the system upgrading, the Bank will suspend all of its business excluding payments by IB credit cards. Specifically, it will suspend the handling the following businesses from 17:00 on October 21 to 24:00 on October 23, inter-bank transfers, personal foreign exchange sales and purchases, agency business of the Shanghai Gold Exchange (SGE), and personal spot foreign exchange trading. From 0:00 on October 22 to 24:00 on October 23, IB will also suspend the services of all its outlet counters, self-service channels (including internet banking, mobile banking, SMS service, self-service voice response of telephone banking, ATM automatic withdrawal (deposit), self-service pass, POS card payments, and the internet cooperation channels will also suspend handling businesses relating to the Bank. In the announcement, the bank particularly wants to remind those customers who need to use and allocate funds during this period to make arrangements in advance and avoid this period of system upgrading to perform relevant businesses.
IB introduces that the core business system is a system that a commercial bank uses to manage the information of its customers, handle the accounts of customers and the core general ledger, provides basic deposits and loans as well as payment services. It's an important platform for the production and operation of the commercial bank. As an important basis for the bank to provide good financial services, it will directly influence the service capability and operation and management level of the bank. At present, the Bank uses the core business system developed independently by itself in 2003, and the “data processing method and system realizing uninterrupted service” has received an “invention patent certificate” issued by the State Intellectual Property Office. However, with changes in the market, business development and increasingly diversified demands of customers, IB needs to improve and upgrade the functions, business processing capability and business flow of the core business system, so as to enhance the operating efficiency and support the continuous upgrading of products and services. Compared with the original core business system, the new generation to be launched this time will put more emphasis on the customer-centered concept, and based on the refined and specialized management requirements, fully excavate the potential in the areas of business flow, product configuration, customer information management, differentiated customer service, and market response, etc., so as to improve the business processing power and integrated customer service capability of the system. Following the successful system upgrading, the Bank will further improve efficiency to provide services to customers, and further elevate the stability, security and convenience of services.
It is reported that this upgrading of the core business system is the largest IT system project carried out by the Bank. Initiated last January, the project was completed after one year and ten months. During the period, IB carried out a thorough system design, development, testing and verification regarding the work at all links, and transferred many key business members and competent technologists from across the bank into the system construction. After accomplishing the system construction, the Bank organized six rounds of system commissioning, four rounds of analog drilling, and one dual-computer parallel verification, carrying out repeated tests and verifications over the system itself and related systems, and IB has also made sufficient preparation regarding the organization structure and operation flow, so as to guarantee that the system can be upgraded in a safe and stable manner.
In the announcement, IB states that during the period of system upgrading, the operators of the 24h unified nationwide service hotline 95561 will continue providing consultation services and handle emergency loss reports, so in case of any questions, please call 95561.
Annex: Main businesses that IB wishes to remind customers to pay attention to during the upgrading of the Bank's core business system
1. Transfer and payment business
Note: The businesses of inter-bank transfers and remittance will not be accepted from 17:00 on October 21; other types of transfer businesses will not be accepted from October 22 to 23; the transfers and payments through internet banking scheduled for October 22 and 23 cannot be performed, and will not be automatically performed after the system upgrading. Customers cannot transact using the account transfer businesses, which may influence the flow of funds, repayment of credit cards, and various businesses regarding loan repayments and payments.
It is recommended that such customers perform their transfer business in advance; especially for scheduled transfers and payments, the customers are suggested to perform such businesses manually in advance or after the system upgrading.
2. Paying by card
Note: During the period of system upgrading, those customers paying by IB credit cards will not be influenced, but the paying by IB debit cards will not be available.
It is recommended that the customers use IB credit cards, cards of other banks, or prepare cash in advance.
3. Online payment Business (inc. mobile banking)
Note: During the period of system upgrading, customers cannot use IB credit cards and debit cards for any online payments, nor perform internet purchases, agency payments, and mobile phone top-ups.
It is recommended that customers avoid the period of system upgrading to perform internet purchases, agency payments, and mobile phone top-ups, or customers should use other modes of payment.
4. Businesses regarding withdrawal and deposit
Note: During the period of system upgrading, customers cannot withdraw or deposit money with IB debit cards through the channels of IB or other banks (including outlets and self-service facilities), nor withdraw or deposit money with IB credit cards through the channels of IB. Bank-bank platform customers of other cooperating banks cannot withdraw or deposit money through the channels of IB.
It is recommended that customers prepare sufficient cash in advance according to their own needs, or transfer funds to the cards of other banks temporarily. The cash-advancing business using IB credit cards can be performed at ATMs of other banks, and the rates of commission charges at other banks and IB are the same.
5. Agency of personal spot foreign exchange trading and agency of precious metal trading of the Shanghai Gold Exchange
Note: IB will suspend its agency business for the personal spot foreign exchange trading from 17:00 on October 21 to 24:00 on October 23, customers cannot log on to the system to handle businesses such as market trading, funds debiting and transferring, and business enquiries. During the period from 17:00 on October 21 to 24:00 on October 23, the system cannot be logged on to handle the agency of precious metal trading businesses of the Shanghai Gold Exchange, such as enquiry, transfer-in and transfer-out of funds, withdrawal of physical gold, and account opening and cancellation.
It is recommended that the customer may make adjustment to their positions and debit and transfer funds before October 21, and adjust the funds structure and positions in advance, so as to evade risks in a reasonable way.