CDB Advances On-Line BankingThe China Development Bank (CDB) has achieved major progress in building an on-line banking business system, according to the CDB's Governor Chen Yuan.Speaking at the Global Internet Financial Services Conference which opened on May 23, Chen said that the bank has drafted a three-year plan for the construction of a computerized bank. He said that the CDB has successfully developed the "enterprise- bank system," being promoted as a foundation to Bank's e-banking business. The accounting system has already started operation, the enterprise payment system and office automation system are being implemented, while credit risk management, basic database and off-site auditing systems are being built and will be finished this year. To date the headquarters of the CDB and its 28 branches have all built computer rooms and structured cabling, with 800 PCs at the head office and 1,200 PCs at its branches to meet on-line banking demands. He said the CDB has developed a "counter forward" system in which the CDB will install a terminal at the borrower's site to connect the bank's own system. The borrower can process project loan applications, payment, temporary borrowing, financial and project reports and also access information. The successful operation of the system will not only improve the quality of financial services, but can also save 1.156 billion yuan for the CDB and 48 million yuan for borrowers annually. He said that with the assistance of advanced electronic technology, the CDB aims to become a modern wholesale bank which will satisfy the needs of the market economy, encourage financial innovations and operate in accordance with international standards. |
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