Solutions from leading cloud service provider are set to strengthen CIBI’s strategies to accelerate financial inclusion
Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, announced it will support CIBI Information, Inc. (CIBI), one of the Philippine’s leading credit reporting agencies, to digitalize its anti-fraud business and accelerate financial inclusion in the country by harnessing its cloud technologies.
Alibaba Cloud will provide CIBI with its Infrastructure-as-a-Service (IaaS) system and cloud-native services such as elastic compute, database, security, storage and network service to host CIBI’s fraud bureau, which will help financial institutions combat the rising fraud cases in the country.
Leveraging Alibaba Cloud’s advanced technologies and services, CIBI will be able to enjoy the benefits of cloud services, including faster deployments, high availability, strengthened security and advanced disaster recovery capabilities, ensuring a more efficient way to manage its business.
“We went through a rigorous process of evaluating cloud providers based on our set of requirements, foremost of which were security, product reliability and access to the features and specifications that we will need. Alibaba Cloud not only met all of these requirements, but its proven infrastructure and services are also compliant with the technical and regulatory requirements set for the initiative. Alibaba Cloud’s trusted solutions are the most accessible in terms of location and reliable with respect to performance and deployment of services,” said Justin Rotap, Vice President & Head of Product – Credit Bureau of CIBI.
“We are looking forward to collaborating on future projects and initiatives encompassing affiliated and related entities in the area of credit reporting,” Rotap added.
“We are beyond grateful for the trust given to us by CIBI and the opportunity for Alibaba Cloud to take part in an initiative that is crucial to enabling the finance sector to achieve gains in the area of financial inclusion. We look forward to the positive impact that this partnership with CIBI will bring to Filipino consumers and enterprises alike,” said Allen Guo, Country Manager for the Philippines, Alibaba Cloud Intelligence.
“With Alibaba Cloud’s dedicated local data center, customers such as CIBI now have access to Alibaba Cloud’s latest IaaS system without worrying about compliance and data sovereignty issues. They can also enjoy reliable cloud services and enable clients to deploy mission-critical workloads with lower latency,” Guo added.
In addition to improving its operating system, CIBI will also get support from Alibaba Cloud’s global ecosystem, which enables CIBI to easily adopt and run Alibaba Cloud partners’ applications on Alibaba Cloud.
With the first-ever fraud bureau in place, Filipino consumers and businesses now have greater protection against scams and frauds. This could encourage more people and businesses to access and use financial products and services, which could then help accelerate financial inclusion in the country.
As the leading public cloud service provider in Asia Pacific, Alibaba Cloud launched a local data center in the Philippines last year. It offers its expertise in cloud technology to provide a range of world-class solutions, including elastic compute, database, security, storage and network services and machine learning and data analytics capabilities, to address issues and challenges in the different key industries in the Philippines.
