- May 13, 2021
- Business Update
JD’s Financial Cloud Solutions Make It to Top 5 in China
by Martin Li
JD Cloud’s financial Cloud platform solutions made it to the top 5 with a market share of 10.3% in China in the second half of last year, according to the report released by global market intelligence firm IDC on May 12.
Among the other leaders are Alibaba, Tencent, Huawei and Baidu.
JD Cloud has provided comprehensive digital services to more than 780 financial institutes, including banks, insurance, trust and securities companies, in an effort to facilitate their digital transformation.
“JD CLoud can provide financial bodies with the most suitable digital solutions in complex operation scenarios, supporting them in innovation on Cloud,” said a spokesman with JD’s financial Cloud business unit.
JD’s financial Cloud business grew by 122% in 2020, compared with 2019. The growth was higher than market average.
China’s financial Cloud business contributed to almost 20% of growth in the financial industry’s IT solution market, according to Wei Yunfeng, research manager of IDC’s industry Cloud service in China
China’s financial Cloud infrastructure upgrade has been growing faster, according to Wei.