The "Financial Industry Database Innovation and Development Report (2023)", co-edited by GBASE, is officially released!

On October 13, the 2023 Financial Industry Database Technology Conference, guided by China Financial Computerization Group and hosted by Beijing Financial Informatization Research Institute, was successfully held in Beijing. The conference was co-organized by Beijing FinTech Industry Alliance, Beijing National Financial Technology Certification Center, and Financial Computerizing Magazine, with the theme "Database Technology Innovation Empowers the Development of Data-Driven and Intelligent Finance."

Key Achievements Released and Multiple Selections

Co-authored by GBASE, together with Beijing Financial Informatization Research Institute and others, the "Financial Industry Database Innovation and Development Report (2023)" was officially released at the conference. Among them, case studies built on GBase databases were selected as excellent financial database application cases, including: Agricultural Bank of China Big Data Platform GBase 8a Application Practice, Bank of China Data Warehouse GBase 8a Application Practice, Sichuan Bank Core Business Anti-Money Laundering System GBase 8s Application Practice, and a bank's core business area GBase 8c Multi-Model Distributed Database Application Practice. GBASE is the only database vendor with four case studies selected, covering all three core products, encompassing both large state-owned banks and city commercial banks.

Back to Business Practice, Empowering Financial Development

Zhang Shaoyong, Chief Product Engineer of GBASE, delivered a keynote speech titled "Introduction to GBASE Database Applications in the Financial Industry" at the main forum. He discussed GBASE’s deep financial industry expertise with experts and scholars from financial regulatory authorities, financial institutions, tech enterprises, and academic research organizations.

Zhang Shaoyong stated: GBASE has been dedicated to the database industry for 20 years, growing from scratch and expanding from peripheral to core systems, achieving large-scale application in the financial sector through independent innovation. To date, GBASE has provided world-class database services to over 140 financial users, including financial regulatory authorities, large state-owned banks, joint-stock banks, local banks, as well as insurance and securities companies. It has deployed more than 10,000 database instances, managing over 100PB of data.

Based on independently innovated GBase database products, GBASE has in-depth understanding of financial users' database business practices, and introduced solutions for strong consistency, high elasticity, big data, AI, DBaaS, and other scenarios. In his speech, Zhang Shaoyong highlighted benchmark cases of GBASE in core system go-live, big data platform construction, replacement of foreign data warehouses, and full-stack domestic technology construction in the financial industry, and outlined the future development roadmap for GBase database products.

Driving Architecture Evolution Together, Focusing on Innovative Development

At the "Financial Database Technology Innovation Development Sub-forum," the Financial Informatization Research Institute, together with GBASE, Alibaba, OceanBase, Dameng, Huawei, Tianyi Cloud, GreatDB, Yunhe Enmo, Uxinan, and Yashan Technology, jointly launched the Financial Multi-Master Database Application Action Plan.

As financial business continues to innovate and develop, with explosive growth in data volume, the demand and technical complexity for data processing are constantly increasing. As the platform for data storage and management, databases are seeing intensified innovation and application, including optimization and upgrades of traditional database technologies supporting financial innovation, as well as exploration of new types of database products in various application scenarios.

During the roundtable discussion on database technology innovation, Ma Lan, Chief Technology Director for the Financial Industry at GBASE, pointed out that the evolution of database technology should focus on "cloud databases" and "big data technologies." With the development of cloud computing and large models, these two types of databases will become the focus of exploration. She also elaborated on the application scenarios and trends of non-relational databases such as graph databases, time-series databases, and vector databases in the financial industry.

She concluded that at different project stages, the focus points of database technology innovation vary. During the selection phase, financial institutions should sort out their current database technology stack, develop a plan from an overall perspective, and determine one or several technologies. In the testing phase, they must start from actual business needs and not be misled by certain test indicators. In the parallel and go-live phase, to ensure a smooth final replacement, they need to focus on the innovation support and R&D capabilities of product vendors, while also comprehensively evaluating the vendor's business capabilities and project experience.