The Alibaba Cloud 2021 Financial Digital Transformation Whitepaper

This whitepaper is a complete guide for financial institutions’ (FI) digital transformation journey with Alibaba Cloud’s financial services

Financial organizations are facing challenges on multiple digital fronts. The rise of mobile banking and other digital products, the need for a financial-grade IT infrastructure, the growing importance of customer intelligence, and the concerns about security and privacy are reshaping the financial industry. Based on these trends, Alibaba Cloud utilized strong digital capabilities and extensive financial industry experience to build a comprehensive suite of cloud-native financial products and solutions. The Financial Solution Roadmap accelerates the digital transformation of financial organizations and drives the development of financial organizations.

This whitepaper analyzes the factors and forces driving the development of the financial industry and introduces Alibaba Cloud’s Financial Solution Roadmap in the following stages: the two pillars serving as the technical foundation and how our digital-native solutions and products support each stage of the financial roadmap:

  • Digital Onboarding and Servicing ensures a digital onboarding experience for financial customers on mobile devices and websites empowered by the mobile development platform, eKYC technologies, and AI-based customer services.
  • Agility at Core provides cloud-native solutions to help Financial Institutions (FIs) migrate their core business systems to the cloud.
  • Trusted Data-Driven Decision-Making combines the big data platform, AI platform, and risk management to fulfill trusted data-driven decisions.
    Secure and Stable Foundation provides a secure cloud-computing environment and a stable cloud infrastructure for global users.
  • This whitepaper shares success stories of worldwide customers leveraging Alibaba financial solutions and products to thrive in the financial industry.