China CITIC Bank, Baidu roll out direct bank AiBank

Monday 20 November 2017 00:12 CET | News

Baidu and China CITIC Bank have announced an agreement aimed at launching AiBank, a new direct bank.

The partnership was approved by the regulators earlier in 2017, and has now open its virtual doors for business. China CITIC Bank owns 70% of AiBank, Baidu 30%. The start-up’s main focus will be on consumer and SME lending and will leverage modern technologies, such as artificial intelligence (AI) and big data.

Earlier in 2017, Baidu has inked a deal with PayPal to tap overseas merchants as Chinese tech companies were ramping up the fight for overseas payment partnerships.

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Keywords: China CITIC Bank, Baidu, online banking, start up, artificial intelligence, SME
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech