(Yicai Global) March 21 -- YLZ Information Technology Co. will team with Ant Financial, the fintech arm of China's internet giant Alibaba Group Holding Ltd., to provide smart human resources and social security services.
YLZ and Zhejiang Ant Small and Micro Financial Services Group Co. (Ant Financial) signed a cooperative framework agreement yesterday, YLZ said today. The company provides information technology services in the fields of health care, social security, human resources, education and others.
The two firms agreed to prioritize each other for partnerships and will recommend each other to other partners, per the statement.
They agreed to give play to their respective business strengths, and jointly promote and enhance the application of emerging technologies Big Data, biometrics, blockchain and artificial intelligence in human resources and social security, medical information, livelihood and payments, the statement said.
They will promote Alipay's mobile payment service to YLZ's customers and discuss innovative financial services based on user credit, according to the statement.
YLZ is setting up an integrated internet operation service platform for the government, enterprises, institutions and public, and is committed to becoming a leading comprehensive operator for the livelihood information services, the statement noted.
The agreement with Ant Financial will be a breakthrough for YLZ's core strategic businesses of "health care, public services and Big Data," the statement read.
YLZ and another Chinese internet giant Tencent Holdings Ltd. penned a collaboration agreement in July and have made progress in mobile healthcare payments, a mobile disbursement platform for medical insurance, and AI-based medical imaging data interpretation.