CLPS Incorporation 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.