Alibaba Cloud unveils financial services solutions to advance industry digitalization

Alibaba Cloud, Alibaba Group’s digital technology and intelligence backbone, has launched its suite of Alibaba Cloud for Financial Services solutions, which includes over 70 products designed to help financial services institutions (FSIs) of all sizes digitalize their operations in banking, insurance, securities, and FinTech.

“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 intended to help FSIs at every stage of their digital journey by providing simple access to cutting-edge cloud-native technology. They deliver five core capabilities that cover more than 20 business scenarios to improve FSI operational efficiency, customer experience, security, and compliance:

• 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
• Security and compliance solutions give FSIs confidence that they are operating in compliance with regional and industry-specific security and regulatory requirements.
• 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.