Chinese insurer ZhongAn Online has teamed up with All In Pay (通联支付), Tonghua Financial (通华投控) and Zhonglian Biz (众联商务) to launch a new cooperative fintech initiative.
Zhitong Caijing reports that the four parties signed an agreement for comprehensive strategic cooperation on 24 July in Shanghai, which will see them work together in key fintech application areas.
Under the agreement ZhongAn’s fully-owned subsidiary ZhongAn Technology (众安科技) will use its “Nuoya” fintech services platform (诺亚平台) to provide fintech operational and technical support to All In Pay and Tonghua Financial.
ZhongAn will also provide technical services to Tonghua FInancial’s blockchain applications laboratory.
The agreement will see the parties jointly explore the application potential of big data, artificial intelligence and blockchain technologies in areas including consumer and supply chain financing.
ZhongAn Online has recently focused on the application of new technologies such as big data, AI and the blockchain to targeted sales, differentiated pricing, risk control and anti-fraud measures, as well as developed a series of technical solutions for the consumer finance ecosystem that involve extensive integration with insurtech.