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Community Blog Fintech on the Cloud - 3 Ways to Power Your Innovations

Fintech on the Cloud - 3 Ways to Power Your Innovations

This article talks about 3 ways empowered by FinTech on the Cloud to help you with your business innovations.

In today's competitive fintech market, speed, flexibility and scalability are everything.

To satisfy customers' high expectations, you need to deploy digital infrastructure that is intuitive and fast - while simultaneously complying with the industry's complex regulations.

Your infrastructure also needs to facilitate a number business and reporting processes, such as Know Your Customer (KYC). That's why third-party integration capabilities are so crucial.

The good news is, Alibaba Cloud's suite of services can facilitate everything your fintech needs to succeed in the digital age.

By delegating infrastructure management to the cloud, you'll immediately free up time to focus on what matters - growing your business.

With near-zero downtime, our cost-effective solution equips you with the necessary tools to boost customer satisfaction and accelerate speed-to-market. It allows you to scale up or down with total control, and without compromising regulatory requirements.

Here's how FinTech on the Cloud can power your innovations through:

1. Scalability, stability and security

If you provide e-lending and/or e-payment solutions to e-commerce businesses, AliBaba can help you provide swift and seamless online payments and loans.

Alibaba Cloud's products and services enable fintechs to meet user demands in a cost-effective way. Infrastructure can be deployed across multiple zones so that your business can remain resilient and keep downtime to an absolute minimum.

How it works

● When connected to the internet, requests pass through AliBaba's Server Load Balancer (SLB).

● The SLB then distributes traffic across numerous Elastic Cloud Storage (ECS) points at an application and web server level.

● These respond to upticks in traffic to minimise service response times..

When you migrate your infrastructure to our cloud, single point of failures (SPOFs) become a thing of the past, and you'll benefit from high fault tolerance and availability across zones.

You can scale easily at short notice too.

When a transaction is processed, our ApsaraDB for MongoDB and ApsaraDB for Redis solutions provide automated monitoring and backup, and disaster recovery capabilities.

Our Object Storage Service (OSS) stores and encrypts your fintech's transactional data for security. Its capacity is flexible and, importantly, has a durability of 99.999999999 per cent.

Finally, our WAF and Anti-DDoS services add a further layer of security, safeguarding your infrastructure and applications from external threats.

2. Expanding into new markets

Are you considering entering a new market this year?

To ensure the availability of your services, you might be considering implementing your back-end systems in a different region to where your customers are.

Alibaba Cloud's global networks make it easy to connect to different regions.

Our ApsaraDB for Redis solution can provide your fintech with a key value database service, including in-memory catching and high-speed access. That means your customers can continue to access your services as you expand into new markets.

Meanwhile, the NAT Gateway service establishes an Internet gateway for your VPC, facilitating a more flexible use of your network resources while providing up to 10GBps of forwarding capacity and cross-zone disaster recovery.

Then there's our Cloud Enterprise Network (CEN). Here's what it does:

● CEN connects your back office region to your business region.

● It provides you with a way to distribute your business systems across multiple regions, providing your global customer base with the availability it needs.

● After connecting regions, you'll buy a bandwidth package and establish your required amount of cross-region bandwidth.

● Expanding to China? No problem. The tailorable nature of our CEN enables you to enter the Chinese market and create a network there.

Finally, our Elastic IP Address (EIP) service keeps your public network working at its best across regions, allowing you to flexibly manage your public IP resources. It also minimises SPOF incidents and supports cross-zone disaster tolerance.

3. A full cloud migration

If you're currently using a hybrid cloud solution, you're not alone.

Having an on-premise data centre with add-on services from an external cloud provider can seem like an attractive compromise…at first.

However, as demand for your e-lending and e-payments services increases, you may find that your infrastructure just isn't flexible or fast enough anymore. Perhaps faults on the network are causing service outages - and this is something you just can't risk as you grow.

Migrating your infrastructure to the Alibaba Cloud enables you to innovate faster, reduce costs and deliver immediate business results to your customers.

All with minimal disruption to your business.

AliBaba's Cloud Migration Service team specialises in migrating services from on-premise data centres and other cloud vendors. We'll provide you with technical support throughout the process to ensure the migration of your systems, databases and storage is seamless.

Our migration service includes:

● A pre-migration evaluation of your current infrastructure and migration planning.

● A Data Transmission Service to support the migration and synchronization of your data between different data engines.

● A Data Transfer Plan, which is priced according to your needs to save traffic costs.

Are you ready to start your journey to the cloud?

Get in touch with our experts >>

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