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Protecting depositors’ rights: C&T Solutions accomplishes HKDPB payout system revamp
Hong Kong, January 9, 2019 - C&T Solutions has accomplished the revamp project of Hong Kong Deposit Protection Board (HKDPB) with enhanced operational efficiency and data security of bank depositors for its compensation payout system under the Deposit Protection Scheme (DPS), modernizing the board’s management to enable fast and accurate compensation payouts.
HKDPB is an independent statutory body formed under the Deposit Protection Scheme Ordinance to oversee the operation of DPS. It aims to protect Hong Kong's bank depositors by the provision of comprehensive measures and maintain the stability of the banking system. As the compensation payout involves the processing of a large number of deposit records, HKDPB requires a highly efficient and secure system that is up-to-date with the latest technologies to support the payout operation.
Through the revamp project, C&T Solutions instilled technology upgrades to the system, simplified the application logic for gross payouts and streamlined the system workflows. The refined payout system with greatly improved efficiency and processing performance allows for HKDPB’s optimized compensation management. In aspects of security, C&T’s Solutions team ensured data storage security with enhanced personal data encryption, strengthening HKDPB’s confidence towards the system. On the other hand, the experienced technical team ensured the accuracy of the compensation calculation and payment through systematic resource allocation to support separate processing of different banks’ concurrent compensation payouts with precision and speed uncompromised, preserving the rights of depositors.
C&T Solutions streamlined the compensation payout system’s workflows and enhanced its operational speed, availability and stability, at the same time significantly improving the confidentiality of bank depositors’ personal data. The revamped system supports HKDPB in its commitment to guaranteeing full payouts within seven days in most compensation cases, staying in line with the international standard.