Value for Our Customers
(1) For Financial Institution Participants
1. Independent from SWIFT, it enables simultaneous payment, clearing and
settlement.
2. Boost settlement efficiency and deliver optimal remittance path for network
participants swiftly and automatically via its flat network structure.
3. Downsize settlement fund liquidity and complete the maximum capital
flow with the minimum credit amount.
4. Does not occupy settlement funds but only controls the amount of
settlement funds.
5. Substantially cut settlement costs.
6. Full business scenarios of cross-border foreign currency, cross-border
local currency, domestic foreign currency and domestic local currency are
provided to prepare commercial banks to integrate settlement channels globally.
7. No restrictions on currency and enable participants to develop cross-border
local currency settlement.
8. More secure
clearing and settlement services.
9. Support integrated DVP/PVP service.
10. Support real-time PVP service to avoid exchange loss.
11. Support independent management of transaction data.
(2) For Bank Customers
1. 7* 24 real-time
cross-border settlement service.
2. Remittance received
in full amount and the cost is transparent, fixed and predefined.
About Our Product
Product Positioning
As the new generation Global Settlement
Network, GSN is an important financial infrastructure for trade settlement and
inter-bank transfer. Through the globally deployed network of message
forwarding platforms and GSN processing centers worldwide, banks with regional
clearing capacity can be upgraded to financial institutions with global
clearing capacity.
Based on flat distributed network, block
chain and other state-of-the-art technologies, GSN bridges a fast, efficient,
low-cost and secure financial highway between countries, and explores the new
business of developing regional clearing and settlement network. The aim is to
achieve global peer-to-peer (P2P), "7*24" (24 hours a day, 7 days a
week), multi-currency, gross fund clearing for cross-border trading enterprises
and individuals.
The GSN global clearing network adopts an
innovative flat distributed clearing mode, namely, two tiers of settlement
banks and commercial banks, which can greatly shorten the clearing path and
boost clearing efficiency.
Our Service
Message Forwarding: Provide fast, peer-to-peer (P2P), real-time, and efficient
delivery services between cross-border participants.
Main Business Modules: Inter-bank cross-border payments and trade finance among other
business services.
Settlement Service: Provide real-time clearing of payment businesses and complete
deferred fund delivery between financial institutions with no need to open
unified reserve accounts.
Liquidity Risk Control: Draw on international experience and proceed from the management
practice of financial institutions, provide functionalities such as clearing
window, business queuing and matching and real-time liquidity query.
GSN Business Ecosystem
Servicing Entities
Clearing Institution: Unique in the network and is initiated and established by several
major participants. The Clearing Institution is responsible for intra-network
message forwarding, business sorting, clearing, clearing network operation,
etc.
Settlement Bank: There are multiple settlement banks in the network, which shall
join after being approved by GSN and shall be responsible for the settlement of
funds between the reserve accounts of General Participating Banks. The
Settlement Banks may also assume the role of General Participating Banks.
Settlement Banks are directly connected to the network.
General Participating Bank: There are multiple General Participating Banks in the network,
which are directly or indirectly connected to the network. They are responsible
for settlement for customers, business message sending and receiving, internal
accounting processing, etc.
Indirect Participant: It refers to a commercial bank that has not joined the GSN
clearing network but has the unique participant identification code assigned by
GSN and can enjoy funds transfer and other services via their corresponding
direct participants.
GSN Technological Features
1. Base the division and design of micro-services on DDD (Domain-Driven
Design) and establish the mapping relationship between domain objects and code
objects. Map and bind the business architecture and system architecture to
realize the rapid response to business changes.
2. The system
adopts distributed micro-service architecture to meet non-functional
requirements such as high performance, high availability, extensibility and
easy scaling.
3. Self-established
CA, using the digital certificate hierarchical mechanism, transaction sign&
verify and encrypted data transmission, ensures transaction security.
4. Based on
the consensus blockchain network, the digital signature of transaction
information is saved in the blockchain distributed ledger to realize
transaction traceability, non-repudiation and tamper-proof.
5. Based on
the disaster recovery plan of two places and three centers in the same city, it
boasts advantages of Multi-active Across Data Centers while avoids its
disadvantages.
6. Inexpensive
server with X86 architecture is adopted instead of costly minicomputer, open
source rather than commercial message-oriented middleware, together with open
source database other than commercial database, etc., are but few exemplars of embracing
open source and advocating independence and controllability.
