HONG
KONG, April 26, 2022 /PRNewswire/ -- CLPS
Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today
announced the launch of the commercial edition of its new
generation credit card system product, CAKU. Built on an open
source architecture, CAKU offers fast implementation and
flexibility for replacing existing credit card system, giving
global banking institutions a competitive edge in digital
transformation.
As the corporate banking business of global banks becomes
saturated, the retail banking segment has developed rapidly, with
the credit card business a key component. At the same time, the
Internet industry's upturn has challenged traditional financial
sector. Internet finance and fintech, which have grown rapidly in
China, have broadened the channels
available to banks for acquiring customers in credit card business,
increasing the market penetration rate of consumer credit. Due to
the emergence of various card issuance and consumption channels, as
well as the increase in marketing activities, financial
institutions are becoming compelled to transform their credit card
system from mainframe to open-source. The goal of this strategy is
to adopt a more flexible platform and a greater ability to keep up
with the market changes.
CAKU is a proprietary product that CLPS independently developed
based on its extensive experience in the financial industry as well
as its deep understanding in the current banking business demands
and industry development trends. Developed by Qinson Limited (BVI),
a wholly-owned subsidiary of CLPS, CAKU has been comprehensively
optimized and upgraded based on CLPS's initial credit card product
from 2015. A product developed to enable digital transformation,
CAKU has made breakthroughs in the following areas:
- Architectural design- CAKU has adopted an independent, secure
and reliable distributed architecture, using a flexible unitized
system to divide into microservices that creates an open source
platform solution, is independent from mainframe platform, and is
able to iterate faster;
- Business application- CAKU offers a new 'scenario-driven'
business model, featuring over a thousand standardized business
components, more than 1,000 API interfaces, and more than 8,000
business parameters, to ensure that the credit card system is
configurable and provides refined management and fast
parameterization;
- Technological innovation- CAKU features a high performance,
high availability and high expansibility system based on an
advanced real-time entry design scheme, graphics engine design
concept and powerful front-end transaction, which can meet the
process requirement of over 200,000 transaction per second (TPS).
When a failure occurs, the recovery time objective (RTO) is less
than 30 seconds, and the recovery point objective (RPO) is zero.
Additionally, it supports 24/7 uninterrupted operation and
unlimited card issuance.
The above-mentioned advantages of CAKU will overcome the
limitations of the previous credit card core system, such as fixed
business, outdated technology, high cost, and poor user interface.
It will also provide strong support in the demand for digital
upgrade on domestic and foreign banks' credit card core system.
Mr. Peng Wang, Product Manager of
CAKU in Qinson Limited (BVI), said, "CAKU is a breakthrough and a
milestone innovation based on X86 architecture, an open source
platform. By transforming the traditional perception that the core
banking system could only be run on a mainframe platform, the open
source fully demonstrates its cost and IT ecosystem benefits in the
R&D and operation, launching a new era to replace the existing
credit card core system. Meanwhile, we adopted the 'microservice,
distributed and unitized' architecture, which gives CAKU the
technical feasibility to run on X86 architecture platform. A new
business model offered by CAKU is scenario-driven. The entire
process and aspects of the credit card system are designed around
scenarios, which greatly improves the flexibility of the product
and allows CAKU to adopt to the challenges posed by the rapid
growth of credit card business."
"In order to develop a series of independent products in
research and development, operation and maintenance, we also
derived a set of 'APE Technology Ecosystem' from CAKU's R&D
process. It is designed to develop universal products that can
'integrate everything, connect everything' based on the client's
needs in the future. In addition, it improves design efficiency of
one-click code generation, integrates resources, creates computing
capacity, server stability and storage fault-tolerance that can
match the mainframe platform based on the distributed architecture.
At present, CAKU is in the process of being commercialized. Our
initial target market is the small and medium-sized financial
institutions in Southeast Asia. We
have also conducted several rounds of communication and
demonstration with potential clients." Mr. Wang added.
Mr. Henry Li, Chief Operating Officer of CLPS, said, "The
official launch of CAKU marks the culmination of our continuous
investment in product development. We will continue to develop new
products to meet the demands of our clients in digital
transformation by utilizing new technologies. Likewise, we look
forward to promoting CAKU in the market, bringing new growth to
CLPS's customized IT solution services and further improving our
gross margin."
About CLPS Incorporation
Headquartered in Hong Kong,
CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global
leading information technology ("IT") consulting and solutions
service provider focusing on the banking, insurance, and financial
service sectors. The Company serves as an IT solutions provider to
a growing network of clients in the global financial service
industry, including large financial institutions in the US,
Europe, Australia, Southeast
Asia and Hong Kong SAR, and their PRC-based IT centers. The
Company maintains 19 delivery and/or research & development
centers to serve different customers in various geographic
locations. Mainland China centers
are located in Shanghai,
Beijing, Dalian, Tianjin, Baoding, Xi'an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining eight global centers are
located in Hong Kong SAR, USA,
Japan, Singapore, Malaysia, Australia, India, and the
Philippines. For further information regarding the Company,
please visit: https://ir.clpsglobal.com/, or follow
CLPS on Facebook,
Instagram, LinkedIn,
and Twitter.
Forward-Looking Statements
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance. Known and unknown risks, uncertainties and other
factors, which may be beyond the Company's control, may cause the
actual results and performance of the Company to be materially
different from such forward-looking statements. All such statements
attributable to us are expressly qualified in their entirety by
this cautionary notice, including, without limitation, those risks
and uncertainties related to the Company's expectations of the
Company's future growth, performance and results of operations, the
Company's ability to capitalize on various commercial, M&A,
technology and other related opportunities and initiatives, as well
as the risks and uncertainties described in the Company's most
recently filed SEC reports and filings. Such reports are available
upon request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website
at http://www.sec.gov. We have no obligation and do not
undertake to update, revise or correct any of the forward-looking
statements after the date hereof, or after the respective dates on
which any such statements otherwise are made.
Contact:
CLPS Incorporation
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com
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SOURCE CLPS