(Yicai Global) Sept. 29 -- Bank of Jiangsu Co. [SHA:600919] has entered a strategic cooperation with JD Finance in fintech and inclusive finance, making it the first city-based commercial bank to team up with online retailer JD.com Inc.'s [NASDAQ:JD] financial arm.

The pair struck a deal in Beijing yesterday, China Securities reported. Fintech is becoming a decisive force in influencing the financial sector's reform, and both parties said they would work together by reinforcing efforts in precision marketing, Big Data, fraud prevention, smart customer service and digitized investment technology to consolidate new advancements and channel resources, such as blockchain, to build a new fintech ecosystem.

The pair will leverage their respective strengths to actively explore cooperation in supply chain finance, credit provision and depository and trustee businesses, and work together on cross-border and supply-chain finance and asset-backed securities.

JD.com set up JD Finance to engage in financial technology. The unit is committed to integrating traditional financial services and emerging technologies, such as Big Data, artificial intelligence and cloud computing, and explores a brand new development mode for fintech.

Bank of Jiangsu this year became a leader in many fintech areas, such as opening the first domestic online comprehensive service integrating investment and financing, running China's first pilot for Internet-of-Things finance and become the first city-based commercial bank to carry out credit data sharing with a national information center.