OREANDA-NEWS. December 19, 2012. Agricultural Bank of China Limited (ABC) puts into operation BoEing (Phase I), its new-generation core business system independently developed by the bank. As a milestone in the new-generation core banking system construction of ABC, the successful launch of BoEing (Phase I) marked a new period for the informatization of ABC.

On the day, Mr. Cai Huaxiang, Executive Vice President of ABC, visited Beijing Command Center of the BoEing Project. He congratulated the successful launch of BoEing (Phase I) and spoke highly of the hard work of all staff. He pointed out that BoEing was a powerful means to support the business development and promote business reform and innovation of the whole bank, and it would replace the existing ABIS comprehensive business system to become the basic technological and business platform for the future development of ABC. The successful launch of BoEing (Phase I) was attributable to the whole bank’s active participation, careful preparation and proper arrangements, and was the fruit of all staff’s concerted efforts. Executive Vice President Cai expected the IT Department to make persistent efforts and step up the development of BoEing Phase II and Phase III, so that BoEing could lay a solid foundation for the production and operation of ABC.

It is learnt that ABC has made sufficient and careful preparation for the launch of BoEing (Phase I). In the face of pressing time, demanding task and high standard, all relevant departments of ABC made concerted efforts, and launched the system in branches of Tianjin, Beijing and Inner Mongolia on a trial basis. Taking advantage of the collaboration between the Head Office and branches, ABC made full preparation for the launch. Firstly, ABC completed the development, testing and acceptance of BoEing (Phase I), and conducted adaptability transformation on 31 and 115 peripheral systems of the Head Office and branches respectively. It also carried out several rounds of data review, realizing the implantation of relevant business data for the launch. Secondly, business departments revised and improved relevant business measures and procedures, prepared system operation manual and training courses, and organized relevant business trainings. Thirdly, for the purpose of risk control, ABC carried out one drill in pilot branches and three drills across the bank. It also developed detailed switch scheme and emergency plan, and took a series of measures to cope with potential risks. Besides, ABC organized an expert team and established the operational response platform, service desk, hotline and other response mechanisms to promptly respond to, locate and solve all problems. The fruitful preparation has laid a solid foundation for successfully launching BoEing (Phase I).

The successful launch of Phase I is a good start for the construction of BoEing. ABC will steadily advance the switch of other businesses based on the safe operation of both the old and new systems. With increasing functions in place, the advantages of this new system will be demonstrated. It will help ABC realize more accurate customer marketing, more flexible market response, more refined performance assessment, stricter cost control and more comprehensive risk control.