To learn more about the business benefits of FinTech on Alibaba Cloud, download the FinTech on Alibaba Cloud whitepaper today.
As a result of advancing digitization and the integration of smart devices becoming the daily norm, the FinTech industry has seen a period of rapid growth. This has paved the way for a host of innovative e-lending and e-payment solutions, which help millions of customers around the globe gain access to these types of financial services in an instant.
However, the FinTech industry often struggles to keep up with the ever-growing user demand and the changing regulations within the financial sector. That is why FinTech companies must continuously design, deploy, and maintain an IT infrastructure that is both scalable and cost-effective in order to compete within this dynamic market.
Alibaba Cloud’s FinTech on the Cloud solution provides multiple benefits that help solve these problems. They assist the FinTech industry to not only address the challenges they face but help create tremendous value for businesses. Here are just three of the eight major advantages of using this service.
Customer Satisfaction through Low Latency
In today’s fast-paced world, customers are looking for quick (if not instant) response times online. This is especially true when it comes to consumer-facing FinTech businesses who only interact with their users online. As a result, to ensure that customers are completely satisfied, FinTech companies must be able to process transactions quickly, as well as have low-latency and dependable infrastructure in place.
In response to these ever-growing needs, Alibaba Cloud uses a global, distributed infrastructure. It is scalable, reliable, and delivers low latency to meet your customers’ high expectations.
Fast Go-to-Market and Cross-Regional Expansion
In order to keep attracting new customers and continuously drive business growth, FinTech companies must frequently release new products, upgrade the applications they already offer, and launch their marketing campaigns in a timely manner.
With Alibaba Cloud’s infrastructure, FinTech businesses have the ability to scale their resources up and down with ease, keeping in line with user demand. FinTech companies also have the capability of establishing a strong global presence with high scalability and availability thanks to Alibaba Cloud’s extensive worldwide infrastructure, which operates in 20 regions with 61 availability zones, as well as a vast network of 2,500+ Content Delivery Network (CDN) nodes and 110+ Point of Presence nodes.
Every business aims to be as cost-efficient as possible. Alibaba Cloud specifically offers FinTech companies a wide range of cost-effective solutions to satisfy this need.
Thanks to the nature of the cloud, both the operational and the maintenance costs commonly associated with paying for an on-premise solution are instantly removed. In addition, Alibaba Cloud also provides FinTech companies with pay-as-you-go options as well as a low-rate subscription service. These give companies a wide range of pricing models to choose from based on their business needs.
In comparison to other products and services currently available on the market, Alibaba Cloud’s solutions offer many cost advantages. Take PolarDB for example — this Alibaba Cloud solution costs just a tenth of the cost of a traditional database.
FinTech companies are shaking up the financial services market with the way in which they operate, challenging traditional products and services that are currently on offer. Alibaba Cloud has a variety of solutions that come with a wide range of benefits.
To find out more about the other business benefits of FinTech on Alibaba Cloud, download the FinTech on Alibaba Cloud whitepaper today.