Wednesday, Jan 26, 2022
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ADBC signs MoU with Tencent to leverage its cloud technology

ADBC Tencent
We will see collaborations on cloud-based financial services and joint innovations towards a data-driven digital bank

The Asia Digital Bank Corporation (ADBC) has signed a memorandum of understanding (MoU) with China-based multinational conglomerate holding company Tencent, the media reported.

The Memorandum of understanding will see both ABDC and Tencent jointly collaborating on cloud-based financial services and innovations towards a data-driven digital bank.

Both parties signed the agreement in a virtual conference which was attended by Elong Huang, General Manager of Tencent Cloud Southeast Asia Region; Carlos Hu, General Manager of Tencent Finance Cloud; and Dr. Li Shan, Chairman of ADBC.

ADBC will leverage Tencent’s cloud technology to provide the best in class digital banking services to small and medium-sized enterprises (SME) in Singapore.

Nelson Goh, Board Director of Asia Digital Bank Corporation told the media, “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. To achieve this level of digital journey and customer-centricity, we need to automate the thousands of processes that underpin the customer journey. Doing this via cloud-based technology will result in an end-to-end, frictionless, and seamless process that connects internal core banking and legacy systems, complementary products, and cognitive system providers.”

“ADBC is committed to providing best-in-class digital banking services to its small- and medium-sized enterprise clients once it is successfully granted the wholesale banking license in Singapore. More importantly, ADBC aims to be an empathic digital bank that exceeds customer expectations. 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” he added.

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