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Ningbo People’s Bank Of China Funds Real-Time Settlement System Reform_Finance_Cases_Boya Software
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Ningbo People’s Bank Of China Funds Real-Time Settlement System Reform

        Ningbo electronic funds real-time settlement system connects to Ningbo funds settlement center, same city and region bill exchange unit, the nationwide electronic bank remittance points and transceiver through the financial area network of Ningbo City, providing computer system to the bill exchange, electronic interbank incoming/outgoing real-time receiving and funds real-time clearing service of the commercial banks and other financial institutions in the region.


        As the pilot project of headquarters of People’s Bank of China, Beida Jade Bird undertake construction task of electronic funds real-time settlement system in October 1997 in Ningbo City. In October 1998, the first phase of the project, marked by entirely accessible of the regional network of Ningbo City, is successful completed. In June 1999, works were totally completed, Ningbo City becomes China’s first city to cancel traditional clearinghouse.


        The revise of funds real-time settlement system project aims to implement the instructions in Notice On Related Matters About The Implementation of Universal Payment Cipher Device System issued by Payment and Settlement Office of the People’s Bank of China Head Office that “since January 1, 2004, all systems using of non-universal payment password device must be stopped”. At present, the electronic payment device system that Ningbo City is using belongs to “non-universal payment password device system”, so the city should use “universal payment password device system” accordingly in future. In order to achieve smooth transition from old standard to new standard, it’s required to revise the system, after amendment, the real-time settlement system must adapt to both new and old payment cipher device systems.


        The revise of the project includes redefining the redesigning the interface of payment cipher system, the corporate interface, the bill interface and branches interface, database design, system testing, data migration, and etc. Beida Jade Bird sent a quality assurance team, and developed a risk management plan, tracking the whole development process of the system, so as to provide reliable guarantee for the system to be launched.


        As the designated system integrator by the People’s Bank Head Office, Beida Jade Bird has extensive experience in the financial electronized field, and had successfully implemented funds real-time settlement system, electronic united bank conjunction system, the construction of regional network covering nearly 40 cities in 10 provinces/municipalities including Beijing, Dalian, Wuhan, Chongqing, Chengdu, Guizhou province, Yunnan province, Ningbo, Jinan and etc. throughout the country, with the market share of 80%. The smooth implementation of this project shall make new contributions for Jade Bird in the field of financial electronized construction of People’s Bank of China.

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