Singapore Digibank Contender Picks Tencent’s Cloud Platform

Singapore Digibank Contender Picks Tencent’s Cloud Platform

by July 9, 2020

Digibank contender Asia Digital Banking Corporation announced today that it will be using Tencent Cloud’s services to provide digital banking to SMEs in Singapore. Tencent Cloud is the cloud computing arm of Chinese internet giant Tencent.

Operating in 25 regions and 53 availability zones worldwide, Tencent Cloud describes itself as secure, reliable and high-performance public cloud service provider that integrates Tencent’s infrastructure-building capabilities with the advantages of its massive user platform and ecosystem.

In their press statement, they said that Tencent Cloud achieved the Outsourced Service Provider Audit Report standard and the Multi-Tier Cloud Security Standard.

Asia Digital Banking Corporation is primarily Chinese consortium that includes software giant Shanghai Jifu and fintech-focused JIC Technology Investment that bidding for a wholesale banking license.


Poshu Yeung

Poshu Yeung

Poshu Yeung, Vice President of Tencent International Business Group, said,

“We are excited to explore our collaboration with Asia Digital Bank Corporation in creating cloud-based financial services, and together innovate in building a data-driven digital bank in Singapore. With our recent achievement of attaining the OSPAR standard, we are much more confident that our cooperation with Asia Digital Bank Corporation will showcase our capability to provide secure, high-quality cloud services.”

Nelson Goh, Board Director of Asia Digital Bank Corporation, said,

“We are grateful to be given the chance to explore with Tencent Cloud in utilizing its OSPAR-attested cloud services in building our vision for innovative digital banking operations in Singapore. ADBC believes in delivering contextualised personal experiences to its customers.

Our proposed collaboration will undoubtedly help us achieve our goal of serving SMEs in the country, focusing on inclusive and green finance and creating a regional flagship, Singapore-based digital bank,”

added Nelson.


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