Giants in their own right, ICBC - the world's largest bank in terms of assets - will work with Alibaba and Ant Financial by leveraging their collective expertise in electronic payment settlement and cross border finance to promote the wider use of digital technology in financial services.
The Chinese companies aim to improve the quality of fintech products and services with smart technologies and product innovation, expanding on the collaboration that began in March 2005 after Alipay and ICBC partnered to provide digital payments.