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With the digitized transition of banking and financial systems entering a new stage, more and more banks in China have chosen internet companies to help improve their performance.

Ant Financial Services Group, one of China's leading internet financial companies, signed a strategic cooperation agreement on Wednesday with China Everbright Bank to facilitate the latter's digital transformation.

Under the agreement, Ant Financial will share its financial-grade technological capabilities and knowhow with the bank to develop its private and hybrid cloud platforms, scalable open financial architecture, internet finance architecture and mobile architecture, as well as AI-driven applications, smart risk management systems, and financial-grade biometric verification.

Ant Financial's technology-based solutions allow financial institutions to deliver services from payments to risk management efficiently and at scale.

Formerly known as Alipay, Ant Financial is an affiliate company of the internet giant Alibaba Group. 

(Compiled by Cheng Weidan)