Alibaba Cloud rolls out financial services with over 70 products

Friday 20 January 2023 09:00 CET | News

Alibaba Cloud has launched a suite of financial services with over 70 products to support the entire digital journey of financial service institutions (FSIs).


Migration to cloud will enable FSIs to achieve their ESG commitments as well as reduce the carbon footprint of their IT operations, enhancing overall operational efficiency and therefore reducing cost.

Alibaba Cloud has launched a suite of financial services with over 70 products to support the entire digital journey of financial service institutions (FSIs).

Alibaba’s services will focus on five core capabilities covering over 20 business scenarios to improve FSIs’ operational efficiency, customer experience, security, and compliance posture. This includes robust cloud infrastructure, security and compliance solutions, agility in business application development, digital onboarding, and servicing, as well as AI-powered customer insight generation and analytics solutions.

The demand for cloud services

The company said that it will be further expanding its product offering as well as the geographic coverage of its services to support more FSIs in the future. The new solutions have been built in response to growing demand from FSIs around the world for cloud products capable of accelerating their digitalisation and enhancing the customer experience.

Officials from Alibaba Cloud said that they believe promoting the transition to the cloud is a critical measure for achieving carbon reductions and efficiency enhancements to benefit a company’s profit and loss statement (P&L), elevate its brand values, and deliver on its sustainability promises. Alibaba’s financial solutions support FSIs of all sizes on their sustainability path through infrastructure digitalisation, and ultimately promote a green financial ecosystem.

Salesforce develops social commerce product with Alibaba Cloud

Salesforce has partnered with Alibaba in 2021 to launch a product designed and built in China, helping multinational brands grow their business in the region.

The rationale of the partnership is explained by company officials through the fact that businesses face challenges while operating in the region, including performance, data residency compliance, and difficulty integrating with local Chinese platforms. Integration with local platforms is viewed as especially difficult given the regional prevalence of social commerce and the use of a social network community to drive ecommerce sales, according to the press release.

Salesforce Social Commerce is intended to help businesses unify data across their Chinese storefronts and offer integrations with key local systems.

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Keywords: cloud, cloud services, Alibaba, financial services, financial institutions
Categories: Payments & Commerce
Companies: Alibaba Cloud
Countries: World
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