{"id":51362,"date":"2022-09-13T13:55:11","date_gmt":"2022-09-13T05:55:11","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=51362"},"modified":"2022-09-13T13:55:13","modified_gmt":"2022-09-13T05:55:13","slug":"alibaba-cloud-unveils-financial-services-solutions","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2022\/09\/13\/alibaba-cloud-unveils-financial-services-solutions\/","title":{"rendered":"Alibaba Cloud unveils financial services solutions"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, today launched its suite of Alibaba Cloud for Financial Services solutions, comprising over 70 products designed to help financial services institutions (FSIs) of all sizes across banking, insurance, securities, and FinTech digitalize their operations.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These solutions are designed to support every stage of a FSI\u2019s digital journey and provide easy access to cutting-edge cloud-native technology. Together, they deliver five core capabilities covering over 20 business scenarios to improve FSIs\u2019 operational efficiency, customer experience, security and compliance:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Robust and elastic cloud infrastructure<\/strong>&nbsp;to enable FSIs to effectively manage their day-to-day operations and the expansion of their digital applications via build-in cloud governance capabilities<\/li><li><strong>Security and compliance&nbsp;<\/strong>solutions give FSIs confidence that they are operating in compliance with regional and industry-specific security and regulatory requirements.<\/li><li><strong>Agility in business application development<\/strong>&nbsp;is achieved through a wide range of financial-grade cloud tools, middleware and distributed database products for developing cloud native applications, as well as the ability for FSIs to manage workloads through Alibaba Cloud\u2019s public and hybrid cloud platforms, their own premises or via multi-cloud environments in a scalable and flexible way.<\/li><li><strong>Digital onboarding and servicing<\/strong>&nbsp;leverages various Software-as-a-Service (SaaS) and hybrid cloud deployments to support mobile and digital operations, remote video-based sales platforms and an electronic know-your-customer (eKYC) solution, helping FSIs verify and onboard users online anytime and from anywhere.<\/li><li><strong>Customer insights generation and analytics<\/strong>&nbsp;solutions harness AI, blockchain, machine learning and data analytics to help FSIs analyze and visualize omni-channel digital engagement intelligence, aiding the discovery of customer insights and enabling intelligence-driven decision making.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOur new solutions have been built in response to growing demand from FSIs around the world for cloud products capable of accelerating their digitalization and enhancing the customer experience,\u201d said\u00a0Raymond Xiao, Head of International Industry Solutions and Architecture, Alibaba Cloud Intelligence.\u00a0\u201cBy leveraging our extensive cloud capabilities and industry know-how, we have developed a comprehensive suite of solutions to advance growth and innovation in the finance sector. We look forward to further expanding our product offering as well as the geographic coverage of our services to support more FSIs in the future.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Trusted partner to FSIs across Asia<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A recent&nbsp;<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/resource.alibabacloud.com\/whitepaper\/digitization-in-financial-services_5703\">survey<\/a>&nbsp;commissioned by Alibaba Cloud found that the financial service sector\u2019s top priorities in Asia Pacific were to accelerate multi-cloud migration, increase automation and build analytics platforms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Alibaba Cloud\u2019s financial service solutions are designed to help FSIs&nbsp;overcome challenges and meet their strategic priorities.For example, China CITIC Bank International (CITIC), a leading Hong Kong-based commercial bank, was looking for ways to enhance its flagship mobile banking platform \u201cinMotion\u201d. By leveraging Alibaba Cloud\u2019s Mobile Platform-as-a-Service (mPaaS) solutions, CITIC\u2019s remote banking services, including real-time eKYC and video-based sales are now operating seamlessly on customers\u2019 mobile devices without geographical restrictions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Rapidly growing FSIs are also seeing value from cloud solutions. GCash, a leading Philippine-based mobile wallet enterprise, partnered with Alibaba Cloud to overcome the challenges their platform was facing from a rapid user base expansion. GCash adopted a mix of solutions, including eKYC, IaaS, ApsaraDB RDS databases and Object Storage Services to scale their operations and accommodate the traffic spike during the pandemic. The FinTech company also adopted security products such as Web Application Firewall and Anti-DDoS to protect their platform from DDoS attacks and other threats.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The Philippines still has a large unbanked population and one of our goals is to offer a digital life that enables democratization of access to financial services like savings, credit, insurance and investment. With Alibaba Cloud\u2019s solutions, we have the ability to operate on a secure technology infrastructure that can scale in real-time and keep pace with the customers seeking new ways to transact,\u201d said&nbsp;<strong>Mark Frogoso, GCash\u2019s Chief Information Security Officer.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Touch &#8216;n Go Digital (TnG Digital), a Malaysia-based company providing mobile e-wallet services, required secure, agile and scalable technology to support its business growth. Through Alibaba Cloud\u2019s Elastic Compute Service, Content Delivery Network (CDN), and EMAS Mobile Test solutions, TnG Digital was able to expand their services effectively. The e-wallet provider also leveraged Alibaba Cloud\u2019s Database Backup Services and PolarDB solution to reduce backup time and ensure peak performance during traffic spikes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAlibaba Cloud&#8217;s dedicated support team actively responds and provides high-quality support services, helping TNG Digital find quick solutions to any problems around the clock. In addition, their cutting-edge cloud technology and comprehensive security solutions enable TNG Digital to meet regulatory requirements and deliver products to market faster.\u201d&nbsp;<strong>said Leslie Lip Mun Foong, CTO of Touch&#8217;n Go Digital.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bank Sumut, an Indonesian financial bank, was looking for a cloud service provider with robust infrastructure and security capability to accelerate its digital transformation. The bank partnered with Alibaba Cloud for its solution stack \u2013 including WAF, Security Center and ApsaraDB for RDS \u2013 which was ideal for streamlining Bank Sumut\u2019s business processes, addressing its security needs and meeting its application requirements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAlibaba Cloud\u2019s complete solution stack plays a critical role in helping us streamline our business processes, enhance the security features and fasten the application deployment and implementation procedures,\u201d said\u00a0Mahdian Dado, Head of IT Division, Bank Sumut. \u201cIn the future, we plan to further strengthen the collaboration and fully leverage the container and microservice capabilities of Alibaba Cloud to foster our digital transformation journey.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>These solutions are designed to support every stage of a FSI\u2019s digital journey and provide easy access to cutting-edge cloud-native technology. Together, they deliver five core capabilities covering over 20 business scenarios to improve FSIs\u2019 operational efficiency, customer experience, security and compliance.<\/p>\n","protected":false},"author":6,"featured_media":45658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[4259,7090,96,2727,1656],"class_list":["post-51362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biz-solutions","tag-alibaba","tag-alibaba-cloud","tag-technology","tag-technology-adaption","tag-technology-investment"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/51362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=51362"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/51362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/45658"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=51362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=51362"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=51362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}