Ant Group and Bank of Ningbo Sign Strategic Cooperation Agreement to Deepen Cooperation in Six Areas

Ant Group and Bank of Ningbo Sign Strategic Cooperation Agreement to Deepen Cooperation in Six AreasOn September 4, Ant Group and Bank of Ningbo signed a strategic cooperation agreement, under which the two parties will deepen cooperation in six areas, including retail credit, digital payment, wealth management, and technological innovation, based on the principle of "mutual openness and mutual benefit." This cooperation will focus on strengthening exchanges and cooperation in digital technology and basic technology applications, accelerate the construction of a new ecosystem for the development of internet + finance, and jointly promote the high-quality development of the real economy

Ant Group and Bank of Ningbo Sign Strategic Cooperation Agreement to Deepen Cooperation in Six Areas

On September 4, Ant Group and Bank of Ningbo signed a strategic cooperation agreement, under which the two parties will deepen cooperation in six areas, including retail credit, digital payment, wealth management, and technological innovation, based on the principle of "mutual openness and mutual benefit." This cooperation will focus on strengthening exchanges and cooperation in digital technology and basic technology applications, accelerate the construction of a new ecosystem for the development of internet + finance, and jointly promote the high-quality development of the real economy.

Bank of Ningbo, as one of the 20 systemically important banks in China, adheres to the philosophy of "being truly good to customers," firmly implements a differentiated operating strategy, promotes professional, digital, platform-based, and internationalized operations, continuously creates value for customers, and constantly solidifies the foundation for high-quality development in the face of fierce industry competition.

Ant Group actively embraces the AI wave, continuously invests in cutting-edge technology, focuses on core technologies such as artificial intelligence, databases, blockchain, privacy computing, and security technology, launches a series of digital technology solutions, assists in the digital upgrade and collaboration of industries, and continuously enhances the breadth and depth of inclusive services.

According to the agreement, the two parties will deepen cooperation in six areas: retail credit, digital payment, wealth management, technological innovation, etc. This will include strengthening exchanges and cooperation in digital technology and basic technology applications, including but not limited to blockchain, privacy computing, artificial intelligence, security technology, mobile development, and cloud-native technology applications.

The two parties will explore the establishment of an innovation laboratory to jointly research financial service applications, fully leverage the technological and platform advantages of Ant Group, promote the prosperity of Bank of Ningbo's financial technology application ecosystem, upgrade customer service experiences, and provide new impetus for digital transformation.

Relying on Bank of Ningbo's financial technology application needs and Ant Group's research in cutting-edge technology, the two parties will jointly explore joint innovation in areas such as large models, big data, high-performance computing, blockchain, digital currency, and indigenous innovation, and jointly promote the research and implementation of new technology applications.

In the field of retail credit, the two parties will jointly build intelligent marketing, product, service, and risk control systems, build an intelligent and efficient internet finance ecosystem, and jointly enhance the construction capabilities of both parties' intelligent operation systems. In the payment business area, they will jointly build a digital service system for merchants and explore merchant service mini-programs. In addition, the two parties will also carry out comprehensive cooperation in the areas of wealth management, treasury, and interbank business.

Lu Huayu, Chairman of Bank of Ningbo, expressed gratitude for Ant Group's long-term support and assistance to Bank of Ningbo and briefly introduced the recent development of Bank of Ningbo. He said that Bank of Ningbo has always adhered to a differentiated development strategy, taking customers as the center, focusing on the "five major articles," strengthening financial technology empowerment on the basis of doing traditional business well, using information technology as a support to provide accurate services for customers. Ant Group has strong comprehensive advantages and big data service capabilities, which highly aligns with the development direction of Bank of Ningbo. He looks forward to the two parties carrying out comprehensive cooperation and continuously deepening it.

Jin Xiaolong, Senior Vice President of Ant Group, said that as fellow Zhejiang enterprises, they hope to explore the practical application of digital technology in the digital transformation of financial institutions through deepening cooperation with Bank of Ningbo, closely follow the financial "five major articles," actively serve the real economy, continue to increase support for small and micro enterprises, people's livelihood consumption, and other key areas of social development, and better promote the high-quality development of the real economy.