Zand Bank partners Alibaba Cloud and Ant Digital Technologies to drive GenAI adoption in UAE
Zand Bank, a Dubai-based digital challenger, has come together with Alibaba Cloud and Ant Digital Technologies to “accelerate the applications of generative AI, blockchain and payment technology” among corporate, institutional and wealth clients in the UAE, according to CEO Michael Chan.
Zand partners Alibaba Cloud and Ant Digital Technologies
Alibaba Cloud operates as the cloud computing subsidiary of China’s Alibaba Group and comprises over 20 industrial solutions including end-to-end enterprise security, and digital onboarding and servicing.
In a statement, Zand highlights “GenAI use cases and fintech solutions including real world assets, e-wallet, mobile Platform-as-a-Service (mPaaS) and other services” as key focus areas for the partnership.
These innovations are to be implemented in “close collaboration” with Ant Digital Technologies, an affiliate company of Alibaba Group, according to Lily Peng, GM of international business at Ant Digital Technologies.
Alongside 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.
Earlier this year, Zand Bank partnered with Indian digital banking software vendor Infosys Finacle to integrate a new range of corporate banking services.
The bank later went on to adopt custody and tokenisation solutions from Swiss Digital asset infrastructure provider Taurus in July and was this week named as a referral partner by UK-based issuer-processor Paymentology.
