China Binary New Fintech Group has appointed HSG from AWS Partner Network (APN) as the professional banking IT system solution provider. The cause for this choice is that China Binary New Fintech Group believes that AWS and HSG have outstanding advantages in the following aspects:
Cloud platform suitable for financial service scenarios
AWS is the world’s leading cloud service provider with extensive client experience and technology accumulation in the financial industry. It can provide customers in the financial industry with a safe and flexible global cloud infrastructure and services that are differentiated and adapted to future needs. “AWS understands the unique security, regulatory, and compliance obligations that financial service institutions face on a global scale. They have a wealth of compliance certifications, security documents for financial institutions, and a complete framework that can better help financial institutions. Organizations quickly develop business on the cloud, which is very helpful to us.” said Su Siyuan, Vice President of China Binary New Fintech Group, “especially CBiMoney needs to meet GDPR requirements to roll out services in the European Union. AWS is not only the first cloud vendor to obtain GDPR certification – but all current AWS services have complied with GDPR at the same time, which has cleared our compliance barriers at the initial stage.”
Abundant hosting services to shorten the application constructing cycle
AWS provides a wealth of hosting services to simplify the workload of users for IT resource deployment and operation and maintenance. China Binary New Fintech Group can quickly select the required services according to the business needs of the CBiMoney payment platform to build cloud-native modularization, reducing the coupling relationship of the business platform. The IT team uses Amazon Elastic Compute Cloud (Amazon EC2) to deliver secure and scalable computing capacity, build a containerized deployment environment, implement flexible resource scheduling through Kubernetes, and provide basic server environment support for the system. The Amazon Relational Database Service (RDS) that supports multiple data engines is used to construct a cloud-based database. Compared with the traditional local deployment of MySQL, such approach is able to achieve a performance improvement of 3 to 5 times and leverage on the advantages of multiple availability zones to achieve data redundancy. In view of the characteristics of CBiMoney users spreading across multiple regions, Amazon CloudFront is introduced to offer customers with accelerated services covering the entire network for WEB access, further reducing network delays when users access business systems. At the same time, it can cooperate with AWS’s built-in security system and Elastic Load Balancing to achieve elastic load balancing and improve service availability and security.
Industry partners to provide full-service support
The APN has brought together a large number of partners with rich industry experience where HSG has a deep accumulation of experience in the financial IT field among the selections of professionals.
China Binary New Fintech Group chose to collaborate with HSG and leverage on HSG’s profession services as an AWS to deploy the modules required by the CBiMoney business system via AWS cloud platform. Such action allows enterprises to establish a foothold in China and achieve the goal of serving the world. In addition, HSG can also provide one-stop IT system solutions for China Binary New Fintech Group in achieving cost reduction, improvement on application efficiency and business empowerment. “As a partner of AWS, our technical team and AWS architects are able to provide a full range of escort services for China Binary New Fintech Group in the CBiMoney project based on a series of best practices and AWS architecture improvement recommendations. CBiMoney is provide with an online payment platform backed by seamless technical support.” Said by Terry Liang Jing, CEO of HSG.
Results achieved
China Binary Fintech Group supports CBiMoney’s business by using the Core Banking system deployed on AWS by the APN member HSG, which not only solves the challenges in development, but also brings a series of significant benefits to the enterprise , These benefits include:
The first is to achieve flexible expansion of IT systems and allow enterprises to respond rapidly on new IT resource demands created by the growing number of users. “AWS provides a shortcut to build IT resources. We can configure resources with just a few clicks on the AWS management console instead of having to go through the complicated procurement and deployment processes like traditional data centers. This facilitates us to establish cloud-based business systems overseas more quickly, so that CBiMoney business can be launched in the European Union within the expected schedule. The overall service launching process has been shorten by 80% compare traditional approaches while providing customers with a better business experience in a shorter timeframe. “Said Su Siyuan, Vice President of China Binary New Fintech Group. In conjunction with the professional services provided by APN member HSG, China Binary New Fintech Group has also greatly shortened the decision-making cycle when launching the CBiMoney service and improved the operational efficiency of corporate business.
Secondly, it has been optimized and improved in terms of business and data security. Unlike traditional self-built data centers that require huge investments in security, the use of AWS cloud services enables China Binary New Fintech Group to adopt a more cost-effective way to improve overall security. “The rich built-in security features of AWS allow us to use them directly and its security features have been widely certified by the industry with verifications by well-known financial institutions such as banks, insurance, and payment. The brand effect of AWS allows us to obtain local regulatory agencies and customers with ease. Recognition allows us to obtain regional financial service licenses in a shorter period of time, rapidly expand our business in more countries and regions while allowing customers to benefit from CBiMoney’s cross-border financial payment services. ” Su mentioned.
The use of solutions provided by HSG has also significantly reduced the cost of corporate business. The flexibility of AWS cloud service provides clients with on-demand and pay-as-you-go methods, so that China Binary New Fintech Group does not need to invest a large amount of fixed asset expenditures in servers, storage, network, computer room, etc. and can convert traditional capital to other investment such as daily business operating costs. The deduction of financial pressure of the enterprise encourages greater investments into the innovation of financial technology. “AWS has helped us realize the operation model of light assets and heavy business. The use of cloud services has led to a stable financial performance where the guarantee of AWS SLA in a way can improve the reliability of our services” said Su Siyuan, Vice President of China Binary New Fintech Group.
China Binary New Fintech Group will continue to cooperate with AWS and AWS Partner Network (APN) member HSG in the field of Fintech more broadly than ever to introduce innovative large-scale business in banking, payment, cross-border finance and other business fields, while developing the backbone for Chinese enterprises to expand overseas and offering supports to Chinese businesses abroad.
