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To learn more about the benefits of the cloud for FinTechs and operating in the Philippines, download The Complete Guide to Fintech in the Philippines whitepaper today.
The Asia Pacific region is filled with opportunities for FinTechs. In the Philippines, for example, 50 million people are excluded from traditional financial products – but there are 73 million internet users. It’s a similar story in other countries, where demand for financial solutions is high in these digitally nature populations.
But Asia Pacific (APAC) is also a challenging region to operate in, with many FinTechs struggling to gain a foothold in this complex and dynamic market. This is where Alibaba Cloud can help your FinTech address a range of challenges with our Holistic Proposition for Financial Services. Let’s examine what this solution can achieve for your FinTech in APAC.
Your FinTech must comply with a range of industry, international and location-specific standards. This is a complicated undertaking, especially as many regulations regularly change.
Solution: At Alibaba Cloud, our comprehensive Compliance Program can help you gain compliance on a global, regional and industry level.
Globally, we adhere to a range of ISO international information security standards, using international best practices for security and compliance. Regionally, we adhere to the security standards of countries and regions where we deploy and operate our cloud services. Within FinTech, we adhere to industry best practices and are heavily audited, achieving compliance to industry certifications, such as PCI DSS and OSPAR.
Your FinTech must protect sensitive financial information and comply with data privacy laws, across thousands of jurisdictions.
Solution: Our security architecture is comprehensive and composed of three layers – application security, data security, and platform security.
Application security protects your online applications and the sensitive data running between them. These services include our Web Application Firewall (WAF),
Anti-DDoS, Security Center, and Content Moderation.
Data security refers to our built-in security at the architecture layer, covering your storage, network, database, and big data services. Here, our Data Security on the Cloud provides a robust solution.
Platform security refers to fundamental security at the physical layer where solutions like our Managed Security Service provide protection at the physical layer.
Your FinTech requires a minimum level of network latency, especially when dealing with payment-related transaction activities and cross-border financial services.
Solution: Alibaba Cloud provides a vast range of cloud-based products and services to maximize your network availability and minimize latency.
Our hot-standby VPN Gateway provides a failover of less than a few seconds, session continuity and zero service downtime. Virtual Private Cloud (VPC) and Express Connect provide private connectivity between your cloud-based instances and on-premise data centers, and Cloud Enterprise Network (CEN) allows your business to seamlessly scale into different regions.
The financial services industry is hampered by cumbersome legacy infrastructures. FinTechs are not constrained by outdated technologies but must ensure scalability and reliability to compete in the market.
To scale on a global scale, our Global Infrastructure includes 22 regions and 67 availability zones with a strong presence in APAC. We can also connect your FinTech with multiple businesses in our ecosystem, including AliPay and JV e-wallet, which have user numbers now exceeding one billion.
We also provide guaranteed service level agreements (SLA). ECS, for example, has an industry-leading 99.975% availability SLA for single instances and a 99.995% availability SLA for a multi-zone instance deployment.
A reliable platform is vital for your FinTech with proper redundancies in place to minimize the impact of any outages.
Solution: We offer a comprehensive suite of disaster recovery services, which run across our cloud-based solutions. For example, thanks to our global network, your resources can be optimally distributed across two availability zones. By deploying instances in different zones, you can ensure your business continuity, even if your master zone is down.
Combined with our industry experience in the Asia Pacific region, Alibaba Cloud has built a comprehensive suite of cloud-based solutions for today’s FinTech businesses thanks to our Holistic Proposition for Financial Services. To find out more about operating in the Philippines, download The Complete Guide to Fintech in the Philippines whitepaper today.
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