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  • Andre Yunque

Bank of China Launches Fintech Lab Together With Tencent

One of China’s largest state-backed lenders has apparently joined the fintech game.

Citing a statement, Finews reports that the Bank of China has teamed up with the Chinese internet juggernaut Tencent and have launched a financial technology lab. The lab reportedly works on cloud computing, artificial intelligence, big data, and blockchain innovations, and has apparently made strides in some of those sectors in the past few months.

“After months of work, the two sides have made breakthroughs in the fields of cloud computing, big data and artificial intelligence applications, and set up a unified platform of financial big data,” said the statement.

The two companies will also set up a cloud platform for financial technology, risk control, and efficiency.

Photo: Laure Wayaffe

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