New Horizons in Data, Smart Future: GBase at the 2023 Inaugural Wuzhen Summit for the Financial (Technology) Industry

On March 24, the 2023 First Wuzhen Summit for the Financial (Technology) Industry, hosted by Hundsun Technologies (hereinafter referred to as "the Summit"), was held at the Wuzhen Internet International Convention Center. Themed "Harnessing Data and Intelligence for a New Landscape and a Smart Future," the Summit invited over 2,200 participants from regulatory bodies, industry think tanks, and more than 650 financial institutions to focus on the frontiers of financial technology and share the latest research and practical achievements in fintech, building a platform for exploring how technology can empower the financial industry’s upgrade in the era of digital intelligence. General Data Technology Co., Ltd. (hereinafter referred to as "GBase") was invited to the Summit; Zhang Shaoyong, Chief Product Engineer, shared “Application and Practice of GBase Database in the Financial Industry” at the Data Risk sub-forum.

Zhang Shaoyong stated that during the digital transformation of the financial industry, the data platform layer will evolve from a hybrid architecture to a converged and cloud-based architecture, enabling unified management and optimization of multiple engines to simplify business processes. This evolution will also face challenges in unified management, resource elasticity, mixed workloads, real-time processing, information security, and heterogeneous migration.

Unified Management and Real-Time Processing: GBase has been dedicated to core technology innovation for domestic databases. Its self-developed distributed logical data warehouse GBase 8a MPP, through a unified converged platform, treats OLTP, OLAP, and Hadoop databases as a single view, allowing data modeling engineers to build complete business models for unified full-data analysis. It also supports multi-source, real-time, and efficient data integration, with vectorized computation and hardware acceleration to respond to users’ data processing needs in real time.

Resource Elasticity and Mixed Workloads: Traditional tightly integrated compute-storage MPP products address high-performance computing and massive data management through scale-out, but they fall short in terms of flexible resource scaling and mixed workloads. To solve these two problems, compute-storage decoupling and stateless compute resources are needed — that is, a cloud-native data warehouse. GBase, building on its mature and stable GBase 8a, restructured its architecture to develop the GBase GCDW cloud data warehouse, which effectively resolves these two issues.

The GBase GCDW cloud data warehouse better meets the demands of elastic resource scaling: storage and compute resources scale on demand with elasticity, compute resources are stateless, and scaling is achieved in seconds without user awareness. It supports mixed workloads across various business types: user data is stored only once in shared distributed storage, and access is controlled so any compute cluster instance can access required data; different, isolated compute resources are used for different workload profiles.

Information Security: The GBase 8s shared-storage database cluster features built-in transparent data encryption, security authentication, Chinese national cryptographic algorithms, and security auditing, meeting the high security requirements of financial users. The multi-model, multi-state distributed database GBase 8c provides identity authentication and identification, transparent data encryption, separation of duties, and security auditing, delivering comprehensive security capabilities.

Heterogeneous Migration: GBase databases have successfully completed migration cases for over 500 users, accumulating extensive engineering experience. Through iterative updates, the products achieve partial syntax and function compatibility with Oracle, DB2, PostgreSQL, MySQL, Teradata, and other databases, along with migration tools for database objects, SQL scripts, and data content.

With years of deep engagement in the financial industry, GBase has rich experience serving various types of customers, including banks, insurance, and securities firms. The distributed logical data warehouse GBase 8a, the shared-storage database cluster GBase 8s, the multi-model, multi-state distributed database GBase 8c, and the cloud-native data warehouse GBase GCDW have all built a number of typical and representative success stories. These products have been thoroughly honed in various application scenarios, demonstrating stable and excellent performance.

To meet the fast-paced growth of the financial industry, GBase will continue to focus on database software products and services, working with more partners on co-innovation in fintech, supporting the industry’s digital transformation and business expansion, and unleashing the vitality of digital finance.