Tencent Cloud Enters Strategic Partnership with Guangzhou Rural Commercial Bank to Drive Digital Transformation, Online Lending

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Tencent’s cloud vehicle has entered a strategic partnership with a leading regional lender in the Guangdong province capital of Guangzhou to drive its digitisation transformation and online lending operations.

Tencent Cloud and Guangzhou Rural Commercial Bank (广州农商银行) (GRCB) executed a strategic cooperative agreement on 3 December, to “jointly drive the application of cloud computing, big data, artificial intelligence, the Internet of Things and distributed ledgers to Guangzhou Rural Commercial Bank’s innovation areas.”

The agreement highlighted the “joint establishment of a distinctive, regional, open innovative financial services ecosystem, and acceleration of the comprehensive digitisation and transformation of Guangzhou Rural Commercial Bank.”

GRCB is one of China’s biggest regional lenders, with total assets that breached the one trillion yuan threshold for the first time in October of this year. GRCB is only the third rural commercial bank in China to have assets above the trillion yuan threshold.

Tencent Cloud said that it would support the establishment and ongoing development of GRCB’s smart risk control, targeted sales, mobile app and online finance systems, with an especial focus on joint expansion of personal and enterprise financial services that leverage Tencent’s huge user ecosystem.

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