Database Solution OceanBase
HANGZHOU, China — (BUSINESS WIRE) — Ant Financial announced the release of the Software-as-a-Service (SaaS) edition of OceanBase, its financial-grade distributed relational database that has served as a foundational computing platform for Alipay since 2010.
OceanBase offers exceptional stability, scalability, reliability, and affordability when compared to conventional database solutions. In October 2019, OceanBase earned the top ranking for performance by the Transaction Processing Performance Council (TPC), a global non-profit organization that establishes benchmarks for transaction processing and databases.
In 2010, it became evident that traditional commercial database solutions were unable to meet the increasing user demand for a seamless, stable, scalable, and reliable payment experience on Alipay, two years after the annual 11.11 Global Shopping Festival was first launched by Alibaba. In response, Ant Financial initiated the development of antfin oceanbase and completed the replacement of all legacy database solutions with this new financial-grade product in 2016.
In 2019, during the 11.11 Global Shopping Festival, Alibaba achieved a Gross Merchandise Volume (GMV) of USD$38.4 billion in just 24 hours, surpassing the total online retail sales of USD$24.6 billion during the major U.S. shopping holidays from Black Friday to Cyber Monday. OceanBase efficiently and rapidly handled all transactional database requests during the festival, managing a peak of 61 million requests per second.
In September 2018, Ant Financial unveiled a program aimed at providing a comprehensive range of its technology products to aid the expansion of financial institutions, assisting them in enhancing user experiences and cutting down costs. Subsequently, several prominent financial institutions, including China Construction Bank, Bank of Nanjing, PICC Health, Bank of Suzhou, and Guangdong Rural Credit Union, have implemented the OceanBase database solution. OceanBase has proven instrumental in enhancing its database query capabilities, supporting wider business operations, and substantially lowering software and hardware expenses.
The introduction of the SaaS iteration of OceanBase represents a significant achievement, as it presents small and medium-sized enterprises as well as developers with a more adaptable and economical alternative. This empowers them to leverage all the computing capabilities that OceanBase can provide.
Ant Financial has thus far delivered over 100 technology products and solutions, thereby expediting the digital transformation of over 200 financial institutions.
