Alibaba Cloud and BRB collaborate on e-money issuance
1 April 2022
Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has announced that its solutions will enable Binangonan Rural Bank (BRB) the first rural bank in the Philippines to launch e-money issuance operations to reach more of the country’s unbanked through cloud infrastructure solutions and digital technologies.
Alibaba Cloud announced on Thursday that it will offer the Infrastructure-as-a-Service (IaaS) system, in collaboration with its local partner Unicloud Technology, to host BRB’s e-money digital app called “E-pon.”
The transition to digitalization will allow BRB to scale its online payment operations and provide greater flexibility in response to their users’ demands.
“We are honored to support BRB’s digitalization journey with our proven expertise in the fintech industry,” said Allen Guo, Country Manager for Alibaba Cloud Intelligence in the Philippines.
“We are excited to provide cloud computing solutions to help more Philippine Fintech companies strengthen financial inclusivity in the country while providing seamless and convenient digital experiences to local consumers,” Go added.
Alibaba Cloud has been named the leader in public cloud container platforms.
BRB will also make use of a number of cutting-edge cloud-based finTech products from Alibaba Cloud and Ant Group, such as the eKYC (Electronic Know Your Customer) solution and Mobile-Platform-as-a-Service (mPaas).
According to Alibaba Cloud, this will digitalize BRB’s identity verification process as well as other mobile payment operations.
“E-money allows more people to engage in financial transactions online, especially in the new normal,” said Alfonso Huang, president of Epon from BRB. “By leveraging Alibaba Cloud’s IT infrastructure and innovative Fintech products, we will be able to provide more unbanked and underserved Filipinos with convenient access to financial services.”
“We are proud to provide our proven fintech knowledge to BRB’s digitization efforts. ‘We are eager to provide cloud computing solutions to support more Philippine Fintech companies in order to strengthen financial inclusion in the country and bring seamless and convenient digital experiences to local consumers,’ said Allen Guo, Alibaba Cloud Intelligence’s Country Manager for the Philippines.
