CUBRID-SettlementBank Builds Real-time Virtual Account Payment Management System Based on Open Source DBMS
Published2018.04.20 10:32CUBRID announced that it has supplied its virtual account collection management system, 'G-Banking,' developed by Settlebank, a company specializing in electronic financial payment services, to more than 120 local governments after completing the integration with CUBRID.
Settlement Bank's 'G-Banking' is a real-time virtual account collection management system designed to enhance the efficiency of local tax revenue collection operations for local governments. Currently adopted and operated by over 150 local governments nationwide, G-Banking improves the productivity of relevant departments through the automation of collection tasks and facilitates the prompt and accurate handling of civil complaints. By assigning accounts on a one-account-per-person or per-transaction basis, it offers the convenience of allowing users to make payments at any time via various channels without the need to visit a bank in person.
Due to the nature of the system, stable integration with local government systems is crucial for SettleBank's 'G-Banking'. SettleBank is gradually transitioning its existing MS SQL Server-based systems to CUBRID over the course of five years, leveraging the advantages of open-source DBMS's stability, technical support, and price competitiveness.
"Amid the rapid growth of the simple payment market, we have demonstrated Cubrid's new potential through our collaboration with Settlebank, which possesses unrivaled expertise in the integrated payment sector. We plan to expand growth opportunities in this promising market by providing the high level of stability required for financial services," said Jung Byung-joo, CEO of Cubrid.
CUBRID collaborates with independent software providers in various fields. Cubrid, which is pursuing a co-growth strategy through the expansion of ISV partners, currently partners with K-Sign's DB security solution, Hancom Secure's integrated key management solution, Joeun I&S's personal information protection solution, and Uplexsoft's SW distribution and change management solution,
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