In recent years, the financial industry is facing tremendous challenges and opportunities in digital transformation. Among them, practicing cloud-native thinking and practices to achieve digitization and intelligence have become the keys to successful transformation. Major cloud computing vendors in China are actively deploying resources to provide efficient and secure cloud services for financial institutions.
The financial cloud solution is a type of financial industry cloud computing service model that applies cloud computing to financial institutions. It involves deploying the infrastructure, management, and business operations of financial institutions onto the cloud, utilizing the computing, storage, software, and data services provided by cloud service providers. This model aims to improve resource allocation efficiency, reduce information construction costs, promote the development of the sharing economy, and accelerate the transformation of old and new drivers.By product form, financial cloud solutions can be divided into financial cloud platforms and financial cloud enabling platforms; by industry, financial cloud solutions can be categorized into bank cloud, insurance cloud, and internet finance cloud solutions.
Definition and connotation of financial cloud solutions
Source: Analysis by Frost & Sullivan
Trend 1:Distributed Core Upgrade Solution
Frost & Sullivan conducts a comprehensive competitiveness assessment of financial cloudization solution providers from three aspects: products, technology, and ecosystem. The distributed core upgrade solution for financial clouds helps financial institutions solve the problem of transitioning their business systems from centralized to distributed architecture during the digital transformation process by building a highly available, high-performance, cloud-native distributed technical system. It is a core technical solution used to support the core transformation of the financial industry.
In the cloud platform field,Huawei Cloud and Alibaba Cloud hold a leading position, supporting multi-core operation under multiple instruction sets to meet the diverse needs of enterprises for cloud security. They provide open, unified, and trustworthy distributed cloud platforms for financial industry customers.
In the field of distributed databases,Huawei Cloud GaussDB distributed cloud database and its series of ecological tools have been applied in projects such as the Oracle database transformation of Industrial and Commercial Bank of China, the core of new personal business of Postal Savings Bank of China, and the credit card core of China Construction Bank. We have achieved complete independent research and development of core code, continuously innovating in collaboration with many large state-owned banks and national joint-stock banks. We deeply cultivate financial core scenarios to meet extreme requirements.
In the field of microservice suites,The Alibaba Cloud Microservice Suite features high availability, security protection, and ease of use, making it suitable for the highly reliable needs of the financial industry. The Huawei Cloud Microservice Suite is seamlessly compatible with open-source ecosystems such as SpringCloud and ServiceComb, empowering rapid development and high-availability operations of microservice applications.
In the field of distributed middleware,Alibaba Cloud SOFA, as a financial-grade distributed middleware independently developed by Ant Financial Technology, is widely used in all financial scenarios including payment, lending, credit, funds, and insurance. Huawei Cloud's distributed high-reliability message middleware supports high-performance and highly consistent messages, enabling faster and better support for business innovation and development.
In the field of cloud management platforms,Huawei Cloud Management Platform can not only support diverse agile business development and deployment, but also highly aggregate underlying resources and flexibly orchestrate structured components, thereby providing strong support for the innovative development of financial institutions' businesses.
Trend 2:Financial Cloud Intelligent Data Lake Solution
The Financial Cloud Intelligent Data Lake solution helps financial institutions integrate, manage, analyze, and utilize data in real time and efficiently through a real-time data lake, new-generation OLAP technology, and real-time data warehouse. It builds an intelligent warehouse for data and algorithm resources, and constructs an intelligent system with functions such as algorithm training, intelligent scheduling, and automatic modeling to create a financial intelligence hub and fully empower the intelligent upgrade of the financial industry.
In the field of financial cloud data warehouses,Huawei Cloud's financial data warehouse solution helps the financial industry achieve cloud-based distributed transformation, calmly cope with the continuous surge in data floods. By integrating complete data link services and product systems, it consolidates complex financial data sources. Through high-speed data transfer and in-depth analysis, it creates an end-to-end real-time, simple, secure, and trustworthy data processing experience for the financial industry. Huawei Cloud FusionInsight provides cloud-native data MRS, real-time data warehouse DWS, and one-stop data governance tool DataArtsStudio based on the lakehouse integrated architecture. It has supported 80% of the top 60 financial customers. Alibaba Cloud outputs cloud-native data warehouses AnalyticDB PostgreSQL, intelligent data construction and management Dataphin, real-time computing Flink and other cloud products based on a hybrid cloud platform, meeting various data warehouse business needs of financial institution customers.
In the field of financial big data,Huawei's Financial Big Data Platform features high performance and scalability, enhancing data transparency, enabling rapid decision-making, and accelerating the monetization of financial data. Alibaba Cloud provides an overall architecture solution that enables a smooth and orderly transition from the existing bank IT system to the new technology system, helping the financial industry reduce hardware costs and foster business innovation.
Trend 3:Financial cloud-native infrastructure solution
The financial cloud-native infrastructure solution provides a public cloud foundation with both hardware and software coordination for the agile delivery and application of cloud-native applications through intelligent scheduling and efficient operation and maintenance management systems. As enterprises enter the stage of deep cloud usage, hybrid clouds, as a bridge connecting public and private clouds, can meet the needs of the financial industry such as high compliance and reliability, data security consistency, and continuous business concurrency.
In the field of financial cloud-native containers,Huawei Cloud Native Kubernetes Engine supports unified management of multiple clusters by third parties, cross-AZ/region application deployment, and auto scaling, providing financial-grade high reliability.
In the field of financial cloud security,Tencent Cloud Security provides customers with a full-process security management platform for cloud assets. From automated asset inventory to detection and identification of various security risks, and then to automated response and disposal of security risks, financial institutions can establish an asset-centered unified security management platform to enhance the overall cloud security level; Huawei Cloud Security has formed a three-dimensional defense system based on security capabilities as the cornerstone, compliance with laws and regulations as the boundary, and ecosystem partners as the moat.
In the field of financial cloud-native databases,Huawei Cloud GaussDB practices cloud-native thinking, building core capabilities around three major directions: Serverless, Regionless, and Modeless. It achieves ultimate elasticity, global availability, and a minimalist experience to meet enterprises' demands for timeliness, availability, mixed loads, etc., in cloud migration and intelligent upgrades, creating an intelligent data foundation for the cloudification of enterprise core businesses. Tencent TDSQL integrates the advantages of traditional databases, cloud computing, and new hardware technologies, being 100% compatible with MySQL and PostgreSQL, achieving high throughput of over one million QPS, massive distributed intelligent storage, and ensuring data security and reliability.
In the future, as governments and regulatory authorities introduce guiding opinions on the development of cloud computing in the financial industry, promoting the application and implementation of financial clouds, and financial institutions continuously upgrade and innovate technologies to improve business efficiency, reduce costs, enhance customer experience, and optimize financial solutions, we believe that financial cloud-based solutions are expected to play an increasingly important role in the digital transformation of the financial industry, helping financial institutions cope with the ever-changing market environment and business needs.
