Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Tuesday it has formed a new partnership Bank of Ganzhou to establish a new fintech research and development center.
PINTEC reported that through the partnership, it and Bank of Ganzhou will jointly establish a fintech research and development center, focusing on advanced fintech researches in big data, cloud computing, artificial intelligence, financial security, and blockchain. PINTEC then explained it will support Bank of Ganzhou in developing a digital operating system with data services covering all business scenarios and procedures, along with launching new products and services for inclusive finance.
While sharing more details about the partnership, Zhou Yi, Deputy Director of the Office of Financial Work under Ganzhou government, stated:
“With the deepening of financial reform in China, the internal and external environments for the banking industry have changed fundamentally, and banks are looking for new growth models. It is an effective way for traditional banks to adopt fintech solutions to speed up innovation and technology upgrade and realize business transformation. I hope the partnership between Bank of Ganzhou and PINTEC will become a good example on how a fintech company can help propel growth of a regional bank.”
Xie Kai, Vice President of Bank of Ganzhou, also commented:
“Fintech is becoming a new driving force in the transformation of the financial industry, especially for traditional banks. With this partnership, we will leverage our respective advantages and resources, and work together to drive financial innovation and revitalize traditional finance.”
Chen Bingqing, Chief Strategy Officer of PINTEC, then added:
“PINTEC is committed to applying advanced technology to improve the efficiency of financial services, and the partnership with Bank of Ganzhou is a major progress in our efforts to serve financial institutions. With the jointly established fintech research and development center, PINTEC will conduct cutting-edge fintech researches and share research results, develop new financial products and services, and contribute to the digital transformation and upgrades of the local financial ecosystem.”