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

Read more at Fintech News Singapore here.

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