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Shanghai ICBC Bill Exchange and Incoming Bill Centralized Office_Finance_Cases_Boya Software
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Shanghai ICBC Bill Exchange and Incoming Bill Centralized Office

        Client Background

        As an important part of bank payment and settlement, bill business is an important channel for the bank outlets to carry out interbank operations with other banks horizontally. Industrial and Commercial Bank of China (hereinafter referred to as ICBC) is China's largest commercial bank. ICBC Shanghai Branch, as one of the largest several ICBC branches, occupying one-fifth market share in Shanghai banking industry. Its daily bill exchange volume is about millions of bills. As banking traditional basic operations, bill business always adopts manual decentralized processing mode, never find a good solution, this manual mode has lots of weaknesses including poor security, low productivity, long fund-in-processing time, high labor costs, and etc., which seriously affect the further development of Shanghai ICBC’s operations, and can not meet the requirements for fund using of the modern society. Therefore, finding an effective solution has become an urgent task for the banking industry.

 

        System Overview

        Through banking business processing center (business operation center) automatically or semi-automatically processing the incoming bills from all the outlets within the same city exchange area centralizedly and unifiedly, the system significantly reduces its management and operation costs, improve the level of intensive operation and flat management of its accounting settlement business.

 

        Effects and Performance

        By the end of 2002, under the close cooperation and joint effort of Jade Bird project team and relevant technology and business departments of Shanghai ICBC, several subsystem of bill centralized withdrawn and processing system were successful developed, and were put into pilot operation in two outlets in Shanghai at the end of 2002. After rigorous testing, the system was finally put into operation on May 15, 2003 in Shanghai Hongkou subbranch of ICBC, which is China's firs bill centralized processing system taking large scale Bill Separation And Classification Device as the main equipment and reflecting the modern and automatic processes of bills. It is the first case in the financial industry in China. After the system putting into operation, the efficiency of seal approval increased 90%, the efficiency of payment password processing increased 50%, the efficiency of element audit increased 40%, the efficiency of keeping records increased 100%, the efficiency of total processing links increased 77%. The successful implementation of the system brought fundamental change to the process flow of the bill withdrawn of Shanghai ICBC, which is the course of reengineering. The manual processing of bill withdrawn process is changed into computer automatic processing. The process and technology of each type of bill withdrawn had undergone a fundamental change, which saved 80% labor costs for Shanghai ICBC. The system is currently running stably in the operation center of Shanghai ICBC and won technological progress award awarded by head office of ICBC.

        The business system is an application software for banking business management, and is another great achievement resulting from accumulated technology and experience of examination and approval system, bill processing platform, and other bank bill imaging processes. The system provide modern management means to the bank risk control and is another innovative banking information management tool. The system brought qualitative change to the bill business of financial industry, which greatly improves the speed of cash flow in all circulation links and brings tremendous economic benefits to the state and enterprises.

        The system has positive impact on the operational mode of banking sector, which turns the current frontdesk operation into the background operation, providing technical support to the low cost expansion of operation outlets, and having great driving force to the business process reengineering of the whole banking sector. It has broad market development prospects.

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