24 April 2014

Alibaba opens cloud computing platform for Chinese banks

03 December 2013  |  2430 views  |  0 Shanghai moder buildings

Chinese e-commerce company Alibaba has set up a cloud computing service for the country's banks and securities firms.

At least eight banks including Xiamen Bank Co., China Bohai Bank Co. and Tianjin Rural Commercial Bank Co. are able to provide online payment services by using Alibaba's cloud computing service, according to a report by Bloomberg.

The Ju Baopen cloud platform is being targetted at smaller and mid-size banks as a means of cutting back on expensive hardware purchases and maintenance contracts.

The banks' online platforms will also be connected to Alipay, the company's third-party transaction system, says Bloomberg.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related stories

07 October, 2013
02 October, 2013
30 September, 2013
31 July, 2013
22 July, 2013
12 July, 2013
23 May, 2013
10 January, 2013
10 October, 2012
25 September, 2012
Your browser is unable to support Flash files.

Featured job


Find your next job