China postal savings bank ties up with Ant Financial on fintech innovation

Postal Savings Bank of China (PSBC) , the state bank with the largest b...

FILE PHOTO: People walk past a sign outside a branch of Postal Savings Bank of China in downtown Beijing, China, November 12, 2015. REUTERS/Kim Kyung-Hoon/File Photo

BEIJING - Postal Savings Bank of China , the state bank with the largest branch network, said it had signed a strategic cooperation agreement with fintech giant Ant Financial on Wednesday. The pact with the Alibaba-backed financial firm will focus on areas such as digital payments, online lending, rural finance and corporate finance, the bank said in a statement sent to Reuters.

The partners will also set up a joint lab to explore fintech innovations, and extend tie-ups in areas such as internet security and taking bank branches digital.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

India’s Paytm Secures $1 Billion Investment From SoftBank, Ant FinancialThe parent of Indian mobile-payments startup Paytm has secured $1 billion from Japan’s SoftBank Group and China’s Ant Financial Services Group, giving it more firepower in a fast-growing but crowded market.
Read more »

China Box Office: ‘Frozen 2’ Makes Best China Debut Ever for Disney Animated Film“Frozen 2” iced out all its competitors in China this weekend, skidding out in front of the pack to top the local box office with a $53.2 million debut – the best ever for a Disney animated f…
Read more »

I'm A Celeb fans call for Ant and Dec to replace Caroline Flack on Love IslandThe presenting pair were so slick with their presenting style on fronting the jungle's version of Love Island
Read more »

Ant and Dec say stand-ins completed 'impossible' I'm A Celeb Bush Tucker trialPresenting duo Ant McPartlin and Declan Donnelly have defended last night's Bush Tucker trial after OfCom received 48 complaints about the tricky task
Read more »

Joel Dommett stuns viewers with Ant and Dec tattoos on I'm A Celeb Extra CampThe I'm A Celebrity Extra Camp host stunned the Geordie duo with his new ink and Emily Atack added that she may get her breasts tattooed in a similar way
Read more »

Ant and Dec watch the football on I'm a Celebrity setAnt and Dec admitted that they might have been a little distracted during show nine thanks to the football
Read more »