Ant Financial Services Group, the financial arm of Chinese Internet giant Alibaba Group Holding, is seeking to team up with Shanghai-based Tebon Securities, according to an announcement the company sent to the Global Times on Wednesday.
Ant Financial wants to diversify its services by cooperating with more than 1,000 financial institutions in the next five years, the announcement said. The online financial services provider will use Internet-related technologies to help securities firms lower investment barriers.
Ant Financial is seeking more cooperation with securities firms to pursue cloud computing and data analytics services.
