Community Blog Three Key Fintech Innovations for APAC Success

Three Key Fintech Innovations for APAC Success

In this blog, we will share three examples of the industry solutions Alibaba Cloud can provide to help your FinTech scale and grow in the years ahead.

Power your innovations with Alibaba Cloud FinTech Support Plan and save up to $5,000 for your cloud adoption.

To learn more about the benefits of the cloud for FinTechs and operating in the APAC, download The Complete Guide to Fintech in the Philippines whitepaper today.

For FinTechs, the cloud is instrumental. It helps FinTechs keep pace with both industry and customer demands, accelerating their time to market so they can compete with traditional financial services companies – and each other.

At Alibaba Cloud, we understand that choosing the right IT infrastructure is vital to support the development and ongoing innovation at your FinTech, while also reducing costs and meeting your customers’ growing expectations.

Here are three examples of the industry solutions we can provide to help your FinTech scale and grow in the years ahead.

Digital Onboarding and Servicing

The FinTech market is dynamic and highly competitive. It’s imperative to provide your users with the best experience to attract and retain them - and first impressions count. That’s why it’s important to provide a seamless onboarding experience – as well as an ongoing high-quality service.

Using Alibaba Cloud, you can easily validate your user's identity using optical character recognition (OCR) and anti-spoof technology. Our SaaS-based Electronic Know Your Customer (eKYC) service also provides a firm foundation for your customer identification tech, with one of the most comprehensive and lightest SDKs available in the industry. eKYC and OCR both provide easy customer onboarding using our comprehensive risk engine, which is backed by the ISO30107-3 Level 2 security standard.

Ease-of-use and seamless customer support is also important for your platform but FinTechs can struggle to develop and provide 24/7 support. This is where chatbots can help – but you don’t need to spend time and money developing your own solution.

Powered by Alibaba Damo Academy, our Intelligent Robot platform provides intelligent 24/7 support for your customers based on natural language processing across multi-channel. It can deliver information covering your services, product information and support and can integrate with third party APIs to help you deal with more complex scenarios, with options to switch to a manual agent conversation.

Agility at the Core

FinTechs require seamless agility to react to market and customer demands, while keeping pace with a changing compliance landscape. In short, you need fast development processes in place to compete and succeed in the FinTech space.

To provide the agility and responsiveness required to meet your customer requirements, we offer a comprehensive suite of products and tools to support the development of your cloud-native banking applications.

For example, our Container Service for Kubernetes (ACK) and Serverless Deployment services allow your developers to focus on developing your applications, rather than managing your container infrastructure.

Our API Gateway also provides a secure, flexible and cost-effective way for your FinTech to publish, manage, maintain and monetize on its applications.

Using API Gateway, internal and external services can also be connected together, providing opportunities for the wider financial services market to foster innovation, create new opportunities, and enable faster changes around customer management.

Trusted Data-Driven Decisions

Data is the beating heart of any FinTech business, where data security and accessibility are key - but providing secure access for your customers is a difficult balancing act.

At Alibaba Cloud, we provide a range of next-generation data-first solutions. Our Blockchain as a Service (BaaS) solution, for example, can help you build a secure and stable blockchain environment. This provides a safe and collaborative environment, where you can seamlessly deploy and manage access to your blockchain service.

Our Data Analytics Solution also ensures your FinTech is equipped with a platform to support your organization-wide data applications and analysis. This helps your FinTech make the right data-led decisions for your business.

The Complete Guide to FinTech in the Philippines

Alibaba Cloud works with a range of FinTechs, providing a comprehensive suite of cloud-based products and services. To find out more about operating in the APAC, download The Complete Guide to Fintech in the Philippines whitepaper today.

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