Ant Financial's Cloud Unit Teams With Chinese Software Maker for Mobile Financial Solutions
Tang Shihua
DATE:  Mar 21 2019
/ SOURCE:  yicai
Ant Financial's Cloud Unit Teams With Chinese Software Maker for Mobile Financial Solutions Ant Financial's Cloud Unit Teams With Chinese Software Maker for Mobile Financial Solutions

(Yicai Global) March 20 -- The cloud unit under Alibaba's fintech affiliate Ant Financial Services Group has joined hands with Client Service International, a Chinese software maker, to develop mobile internet finance platform solutions and core services systems.

CSI has penned a business cooperation agreement with Hangzhou-based Ant Financial, the Beijing-based firm said in a statement.

The two parties will jointly develop solutions for the finance sector with Ant Financial providing technological expertise and CSI giving full play to its range of banking clients.

CSI will also recommend Ant Financial cloud services and other products to its clients.

The cooperation will enhance both companies' core competitiveness in the finance sector and help them to expand markets and develop innovative business models, the statement said.

The deal counts as an affiliate deal as Ant Financial-controlled Hundsun Technologies and Yunxin Venture Capital, hold 5 percent and 3.4 percent stakes in CSI, respectively.

Editor: William Clegg

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Keywords:   Ant Financial,Client Service International