trending Market Intelligence /marketintelligence/en/news-insights/trending/piGD6YuFankAxSd8moTmzA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

ICBC collaborates with Alibaba, Ant Financial on fintech, financial services

Blog

Needham & Company is Now Available in the S&P Global Market Intelligence Aftermarket Research Collection

COVID: What’s the bottom line: Credit Impact of COVID-19 on US Municipals

Blog

Broadcast deal market recap 2020 – relatively good results in a challenging year

Blog

The State of Green Business 2021: Positive Impact


ICBC collaborates with Alibaba, Ant Financial on fintech, financial services

Industrial & Commercial Bank of China Ltd., the world's largest bank by assets, Alibaba Group Holding Ltd. and affiliate Ant Financial Services Group agreed to expand their existing partnership to key areas of financial technology and financial services, including electronic payment settlement, cross-border finance and scenario-based financial services.

The partners started their collaboration in March 2005 when ICBC became the first Chinese bank to join hands with Alipay to offer online payment services to users. Under the new agreement, the partners will seek to use smart technologies and product innovation to improve the quality of financial technology offerings, according to a Dec. 16 news release.

ICBC Chairman Chen Siqing said the partners' cooperation now expands beyond payment and e-commerce to areas such as global corporate finance and financial innovation.