One of the Philippines’ largest credit reporting agencies, CIBI Information, Inc. (CIBI), is partnering with Alibaba Cloud, the digital technology and intellectual backbone of Alibaba Group, to digitalize its anti-fraud business and advance financial inclusion in the country.
Cloud-native Alibaba Cloud services such as elastic compute and database as a service, security, storage, and network service will be used to host CIBI’s fraud bureau, which will assist financial institutions in combating the country’s increasing number of fraud cases.
A more effective way to run CIBI’s company will be achieved by leveraging the advanced technologies and services of Alibaba Cloud. These benefits include faster deployments, high availability, enhanced security, and sophisticated disaster recovery capabilities.
“We went through a rigorous process of analysing cloud providers based on our set of needs, the most important of which were security, product stability and access to the features and specifications that we will require. Alibaba Cloud not only meets all of these criteria, but it also complies with the project’s technical and regulatory requirements because to its well-established infrastructure and services. When it comes to performance and deployment. Alibaba Cloud’s trusted solutions are the most accessible and reliable,” stated the Vice President & Head of Product-Credit Bureau of CIBI, Justin Rotap. He also mentioned that CIBI looks forward to working together with Alibaba Cloud on future projects and efforts that include linked and related organisations in the domain of credit reporting.
Allen Guo, Country Manager for the Philippines, Alibaba Cloud Intelligence said “Thanks to the trust placed in us by CIBI and the opportunity to be a part of a project that is essential for the financial sector to achieve advances in the area of financial inclusion, we are beyond grateful. This relationship with CIBI will have a significant influence on Filipino consumers and businesses alike.” Guo added that a dedicated local data centre allows customers such as CIBI to access Alibaba Cloud’s latest IaaS system without worrying about compliance or data sovereignty issues. As a result, they can also benefit from reliable cloud services and lower latency.
As part of this upgrade, CIBI will also benefit from Alibaba Cloud’s worldwide ecosystem which makes it easier for CIBI to use and execute applications developed by Alibaba Cloud partners.
To better guard themselves against fraud and deception, the Philippines has set up the country’s first-ever fraud bureau. As a result, a greater number of individuals and enterprises may be able to take advantage of financial services and products, thereby promoting the financial inclusion of the country.
Last year, Alibaba Cloud, the top public cloud service provider in Asia, opened a data centre in the Philippines. Elastic compute, database services, security, storage, and network services, along with machine learning and data analytics capabilities are among the world-class solutions it provides to the Philippines’ many major industries using its cloud technology expertise.