Fynance, a leading supply chain financing service provider, is committed to resolving challenges through its innovative technology platform based on cloud computing, blockchain, and other advanced technologies. The company also provides short-term credit solutions, such as Buy Now Pay Later credit line, to micro, small, and medium enterprises (MSMEs) facing capital issues.
The Fynance platform helps buyers and suppliers optimize their working capital and get access to low-cost funding options. The company closely works with various financial institutions to provide lending services to businesses.02
Fynance was looking to build a secure and scalable infrastructure to host its supply chain finance platform involving multiple players, including suppliers, buyers, and credit lending institutions. The company wanted to ensure that its platform users can exchange financial information such as account payables and receivables with each other in real-time with top-notch security. Since the Fynance platform required integration with multiple parties, the company needed a reliable solution that supports open-source blockchain technologies like Hyperledger Fabric to build a transparent, tamper-proof, and readily integrable platform.
It was vital for Fynance to add elastic scaling capabilities to its platform infrastructure to ensure uninterrupted operations during peak business hours. The company also needed a cost-efficient and fault-tolerant data storage solution to store the sensitive financial and personal information of Fynance platform users. In addition, Fynance was considering investing in a host of security solutions like cloud-based Anti-DDoS software to strengthen the overall security of its platform.03
Why Alibaba Cloud
Fynance was looking to collaborate with a reliable technology partner with extensive experience in the Fintech space to help them build a reliable and scalable supply chain finance platform. Fynance was familiar with Alibaba Cloud’s reputation as a global leader in the Blockchain-as-a-Service (BaaS) market and therefore selected Alibaba Cloud as its preferred partner. Fynance was also impressed with Alibaba Cloud’s broad portfolio of network security products that offer protection against advanced threats like DDoS. In addition, Alibaba Cloud’s cost-effective cloud infrastructure services and dedicated local technical support capabilities convinced Fynance to engage with Alibaba Cloud.
Alibaba Cloud BaaS combined with a host of cloud services like Alibaba Cloud OSS, ECS, and CloudMonitor helped Fynance deliver secure supply chain financing services to customers with world-class security. Alibaba Cloud provided dedicated training and enablement support to Fynance for rapid solution deployment. The continuous guidance and support received from the Alibaba Cloud made it easier for the company to integrate the Fynance platform with Alibaba Cloud BaaS.04
Fynance trusted the Alibaba Cloud Blockchain-as-a-Service to create a secure and stable environment for hosting its supply chain finance platform. Powered by financial-grade blockchain technology AntChain, Alibaba Cloud BaaS enabled Fynance to build a scalable and tamper-proof platform to provide short-term financing services to small and mid-sized businesses. This enterprise-grade platform service from Alibaba Cloud helped Fynance facilitate the secure exchange of financial information such as account payable and receivables data among its platform users and enable low-cost funding options for SMEs.
In addition to Alibaba Cloud BaaS, Fynance utilized various other Alibaba Cloud computing, storage, and security products to modernize its platform infrastructure. Alibaba Cloud Elastic Compute Service allowed the company to dynamically provision ECS instances based on the fluctuating traffic levels to add scalability to its supply chain finance platform. ECS auto-scaling and low latency capabilities helped Fynance maximize service availability during peak business hours. Alibaba Cloud Object Storage Service allowed Fynance to securely store the confidential financial and business information of its platform users. OSS provided distributed storage and automatic backup and disaster recovery capabilities to ensure Fynance clients’ data is never compromised.
Fynance also trusted a variety of cost-effective network security products from Alibaba Cloud to strengthen its overall platform security. Alibaba Cloud Security Center combined with Anti-DDoS helped the company safeguard its supply chain finance platform from Distributed Denial of Service (DDoS) and other types of phishing attacks. Fynance also deployed CloudMonitor to track the overall health and performance of its infrastructure resources through real-time dashboard visualizations and custom reports.