Key Giveaways:
- Fintech Collaboration: Zand Bank partners with Alibaba Cloud and Ant Digital Technologies to accelerate the adoption of generative AI, blockchain, and payment technologies in the UAE.
- Focus on Key Solutions: The partnership will prioritize generative AI use cases and fintech solutions such as real-world assets, e-wallets, and mobile Platform-as-a-Service (mPaaS).
- Expanding Services: Zand Bank continues to expand its offerings and partnerships to enhance its digital banking capabilities and cater to a wider range of clients.
Dubai, UAE – Zand Bank, a digital challenger bank based in Dubai, has announced a strategic partnership with Alibaba Cloud and Ant Digital Technologies. This collaboration aims to accelerate the adoption of advanced technologies such as generative AI, blockchain, and payment solutions for corporate, institutional, and wealth clients in the UAE.
“We are excited to collaborate with Alibaba Cloud and Ant Digital Technologies to accelerate the applications of generative AI, blockchain and payment technology,” said Michael Chan, CEO of Zand Bank.
The partnership will focus on key areas such as generative AI use cases and fintech solutions, including real-world assets, e-wallets, and mobile Platform-as-a-Service (mPaaS). These innovations will be implemented in close collaboration with Ant Digital Technologies, an affiliate company of Alibaba Group.
“In addition to mPaaS, Peng says Ant Digital Technologies’ provision of “one-stop digital banking solutions” will also include the biometric authentication platform ZOLOZ and software framework SOFA,” stated the report, highlighting the comprehensive nature of the partnership.
Alibaba Cloud, the cloud computing arm of Alibaba Group, offers a wide range of industrial solutions, including enterprise security and digital onboarding services. This expertise will be leveraged to enhance Zand Bank’s digital banking capabilities.
This partnership builds on Zand Bank’s ongoing efforts to expand its services and partnerships to better serve its clients. Earlier this year, Zand partnered with Infosys Finacle to integrate corporate banking services and adopted custody and tokenization solutions from Taurus.
By collaborating with Alibaba Cloud and Ant Digital Technologies, Zand Bank is demonstrating its commitment to innovation and providing cutting-edge solutions for its clients. This partnership aligns with the UAE’s broader focus on digital transformation and positions Zand Bank as a leader in the fintech landscape.Sources and related content
