Cycloan - Alibaba Cloud

Financial Services

Asia Pacific

SME/Startup

“Partnering with Alibaba Cloud allows us to start small and scale up as our Sino-China business grows. Of all the cloud platform providers, we feel that Alibaba Cloud is the easiest one to work with. This is especially important for us when our business landscape is constantly evolving.”

Vince Chew, COO of Cycloan

About Cycloan

Cycloan is a decentralized loan marketplace for tech SMEs and startups to secure working capital financing for their business needs through larger tech companies (as the primary source of funds). When the primary source of funds is insufficient to meet funding requirements, Cycloan can offer access to financing from individuals and institutional lenders as an alternative source of funds. The marketplace is blockchain-enabled, which creates a transparent and secure ecosystem, eliminating the need for any third-party interventions.

Challenge

For a FinTech-based company like Cycloan, security is a key component for ensuring business success. Cycloan needed a reliable cloud provider that is strictly compliant with regional and international security standards. However, its existing deployment architecture did not have built-in redundancy and high availability. Furthermore, for the blockchain component of its application, Cycloan needed a built-in system that could provide many nodes, but its existing architecture did not support the setup of various nodes for each party.

Why Alibaba Cloud

By adopting Alibaba Cloud solutions, Cycloan is now more confident to scale up as they open up new markets in the APAC region. Now, Cycloan can get scalable instances for its frontend applications, and its middle layer has been implemented as a scalable component. In addition, its blockchain database has been deployed with many nodes for different parties, capable of spinning up new nodes on the fly. The security of its applications has also been well monitored and protected by Alibaba Cloud’s threat monitoring score.

Architecture

Financing businesses can only be profitable if sound decisions can be made through data. For Cycloan, data is a key ingredient that must be accurate and immutable. To achieve this, its solution ingests large amounts of data from approved sources using API integration to make critical credit decisions.

To improve credit decision-making, artificial intelligence and machine learning (AI/ML) is used to train the credit model. Cycloan is also very conscious of minimizing operational risks and fraud by digitizing the entire lending workflow through smart contracts.

Looking Forward

Cycloan believes it can start small and scale up as its Sino-China business grows through its partnership with Alibaba Cloud. Cycloan appreciates Alibaba Cloud's constant support and effort to make the cooperation a seamless process. This is especially important for the company when facing a constantly evolving business landscape.

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