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Ant Financial Opens Technologies for Unmanned Service Providers

Sina Tech, 8/22/17

Ant Financial, the financial services affiliate of Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA), recently announced that it will open up its self-developed technologies, including identity verification, risk control, and payment processing services, to merchants providing unmanned services.

The new technologies are aimed at companies providing unmanned sales kiosks, mini KTV parlors, and unmanned fitness centers.

Zou Liang, a vice president at Ant Financial, said that user credit ratings are very important for unmanned service providers. Ant Financial's consumer credit rating service Sesame Credit currently has more than 300 mln users and continues to grow, and Ant Financial will use this base to gradually develop its payment, security, operations, and financing capabilities.

In addition, Ant Financial and office rental co-working community URWork have formed a partnership to provide financing, preferential business rates, cloud services, entrepreneur services, and small loans to entrepreneurs and teams located at URWork office spaces. URWork will help its enterprises access Ant Financial services, and enterprises will be able to apply for services from Alipay, Ant Financial's online banking subsidiary MyBank, and Sesame Credit.

Keywords: credit rating Internet Alibaba Group BABA Zou Liang URWork Ant Financial Group financial services

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