Tencent Cloud has signed a strategic cooperation agreement with China CITIC Bank International (CNCBI) to support the digital transformation and core banking development of the lender.
The partnership will advance the Fintech 2.0 strategy of CNCBI. This relies on AI and aligns with the focus of the bank on synergy between Shenzhen and Hong Kong.
The two companies will focus on enhancing intelligent risk control capabilities to improve security and privacy in regional digital banking.
CNCBI is also exploring the deployment of AI to automate internal operations and elevate retail services.
Core banking and local technology
As part of the agreement, Tencent Cloud will support the development of a next-generation core banking architecture for the lender.
Alongside this modernisation effort, the collaboration includes evaluating domestic technology stack alternatives. This ensures the new financial systems remain stable and compliant with local regulations.
“By combining the secure cloud infrastructure of Tencent Cloud and intelligent capabilities with the Fintech 2.0 vision of CNCBI, we are setting new benchmarks for digital transformation and cross-border financial innovation,”
Jared Jiang, General Manager of Financial Service Industry for Tencent Cloud Hong Kong and Macau said.
“This strategic partnership marks a major milestone in our Fintech 2.0 journey, uniquely aligning with our Shenzhen-Hong Kong synergy strategy to create a flagship showcase for cross-border financial technology,”
CNCBI Deputy Chief Information Officer Tang Bin, said.
Featured image credit: Edited by Fintech News Hong Kong, based on image by Tencent Cloud