The cloud subsidiary of tech giant Tencent has entered a partnership with a leading Shenzhen fintech company for the development of a new cloud-based financial data platform.
Tencent Cloud and Shenzhen TECHO Telecom Co., Ltd. announced the launch of the “Financial Distributed Core” Joint Solution Plan (金融分布式核心) on 24 June.
The plan makes use of a “Cloud Platform + Distributed Database + Micro-services” architecture, which is compatible with multiple servers and operating systems produced within China.
According to Tencent Cloud the platform is China’s first “financial distributed-core systems solution plan that fully satisfies the needs of banks and other financial institutions when it comes to multiple centres in multiple locations; cross-region disaster recovery and hybrid transactional/ analytical processing (HTAP).”
The plan employs Tencent Cloud’s exclusive Tencent Cloud Engine (TCE) as its base technology, as well as Tencent’s distributed database TDSQL.
During the testing phase standard account transactions conducted via the platform had a response time of less than 150 milliseconds, while standard inquiry transactions had a response time of under 60 milliseconds.
Tencent Cloud said that the security and controllability of core financial technology had become a key strategy for the domestic financial sector.
“The creation of the financial distributed core joint-plan can provide solid support to the digital transformation and fintech innovations of banks and other financial institutions,” said a Tencent Cloud spokesperson.