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Alibaba Cloud unveils financial services solutions

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, launched recently 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.

“Our 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,” said Raymond Xiao, head of International Industry Solutions and Architecture, Alibaba Cloud Intelligence. “By 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.”

These solutions are designed to support every stage of a FSI’s digital journey and provide easy access to cutting-edge cloud-native technology.

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These solutions offer robust and elastic cloud infrastructure to enable FSIs to effectively manage their day-to-day operations and the expansion of their digital applications via build-in cloud governance capabilities. It also provides security and compliance solutions that give FSIs confidence that they are operating in compliance with regional and industry-specific security and regulatory requirements.

Financial-grade cloud tools

The agility in business application development 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’s public and hybrid cloud platforms, their own premises or via multi-cloud environments in a scalable and flexible way.

Digital onboarding and servicing 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.

Customer insights generation and analytics 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.

A recent survey commissioned by Alibaba Cloud found that the financial service sector’s top priorities in Asia Pacific were to accelerate multi-cloud migration, increase automation and build analytics platforms.

Alibaba Cloud’s financial service solutions are designed to help FSIs overcome challenges and meet their strategic priorities.