“Throughout the initial discussion, development and implementation process the Alibaba Cloud team’s attitude, work efficiency and response to our questions and requests were excellent. We have been impressed with their ability to deliver results and are looking forward to working in partnership into the future.”
Lee Yu, LifeByte CEO
LifeByte, located in Sydney Australia, is a fin-tech company founded in 2016. LifeByte's mission is to integrate the global financial resources with their requirements through the progressive technology, and to create a fair, transparent and reliable fin-tech platform for financial professionals and financial institutions around the world.
Currently LifeByte mainly serves financial trading brokers, such as the world-famous TradeMax Group. TradeMax mainly uses MT4, MT5 and IRESS as its business platform, and provides comprehensive financial services to customers around the world. Therefore, the system has high requirements for real-time, reliability, system performance, and network speed. A few seconds of business interruption may bring millions of losses which is a significant challenge for the organisation. Before using Alibaba Cloud, TradeMax's MT4 business platform mainly ran on another cloud provider in Taiwan and an independent data centre in New York, USA. This platform structure often affected Chinese customers with failure to open pages or very slow access speed resulting in actual loss to some customers. Therefore, for TradeMax, a key priority was an upgrade to their existing systems and networks to ensure business stability and improve customer satisfaction.
Through LifeByte's own experience and a comprehensive understanding of customer specific needs and business needs, Alibaba made detailed business scenarios designs for TradeMax and provided complete verification tests for the specific situations and requirements of the customer. Through several workshops, Lifebyte and Alibaba Cloud worked on a solution that could satisfy the business needs in terms of security, performance (including CPU capacity, Memory capacity, storage speed, IO performance, network speed, fast resource scaling) and reliability. Alibaba Cloud provides TradeMax with a complete infrastructure solution including ECS flexible computing, RDS database, SLB load balancing, OSS object storage, Express Connect high-speed channel, WAF network application firewall and other services. This enables TradeMax to build a global trading network with US (Americas) as the business center and Shanghai, Hong Kong (Asia), Sydney (Oceania) and Frankfurt (Europe) as the main access portals. In the future, Alibaba Cloud will continue to provide enterprise class cloud services for TradeMax, including OSS storage backup, cloud enterprise network (CEN), and help TradeMax complete MetaTrader5 (MT5) core business system upgrade, which will support TradeMax as it continues to improve on the bridge between demands and solutions for global investors whilst enhancing its industry competitiveness.
LifeByte's business returns are mainly reflected in the following aspects:
1. The successful migration of the system to Alibaba Cloud has eliminated customer issues due to network interruptions, and the resulting business losses. Since the migration the current system has been running for 2 years and 3 months efficiently with the performance and stability of the platform very well received. It has been recognised by customers all over the world, especially in mainland China, and has greatly improved the competitiveness of TradeMax.
2. System security is greatly improved through the use of Alibaba Cloud's security solutions such as Anti-DDoS and Web Application Firewall (WAF). TradeMax’s business system can now be protected from malicious DDoS attacks across the network. At the same time, using the monitoring and early warning capabilities provided by Alibaba Cloud, TradeMax can monitor the system operations in real time and take any required action.
3. By deploying on Alibaba Cloud, TradeMax has simplified their IT operations and reduced their operating costs significantly. 33% of the operation time has been saved, with 18% ROI improvement.
Why Alibaba Cloud?
Alibaba Cloud has earned Lifebyte’s trust through the process of joint collaboration to work through any concerns and challenges of the business whilst taking time to understand the key business drivers. Alibaba Cloud's ability to connect with the China market was a huge advantage and enables Lifebyte to expand into new markets. At the same time, Alibaba Cloud team's professional competence, work attitude, work efficiency, and quick response to any technical requests has ensured a smooth migration process with trust and respect being developed.
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