China Everbright Bank taps on Alibaba's Ant Financial for fintech programme

The tech firm will help the bank develop cloud platforms and AI applications.

China Everbright Bank has signed a strategic cooperation agreement with Alibaba affiliate Ant Financial Services and Everbright Technology to facilitate the bank’s digital transformation.

The agreement allows Ant Financial to share its technological knowledge with the bank to assist it develop hybrid cloud platforms, open financial architecture, Internet finance and mobile architecture, AI-powered applications, smart-risk management systems and biometric verification.

"Every aspect of the technology we have developed will one by one be opened up to current and potential partners. For us, the only criterion as to whom we partner with is whether that partnership is innovative enough to deliver value to users," said Ant Financial CEO Eric Jing at the Ant Fortune Open Platform Conference in 2017.

Ant Financial is the company behind mobile wallet and lifestyle platform Alipay.