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What is the BASIC Strategy in the Ant Financial’s Technology?

By ESC Editorial Team, over 5 years ago Business
What is the BASIC Strategy in the Ant Financial’s Technology?

In the Computing Conference 2017 (From Oct.11th to Oct.14th, the conference was held at the Yunqi Town International Exhibition Centre in Hangzhou, the city where Alibaba headquartered.), Ant Financial had taken its first exhibition of the Ant Technology Exploration Conference (ATEC).

At the Exploration Conference, Ant Financial CTO Cheng Lishou introduced for the first time the “BASIC” technology strategy of the Ant Financial Services of the future, and declared its goal to make the technology available to the public.

The “BASIC” strategy is a shortened combined description of the five aspects, Blockchain, Artificial Intelligence, Security, IoT (Internet of Things) and Cloud Computing. These aspects form the technological basis of Ant Financial Services. “Based on this foundation,” Mr. Cheng said, “we have built Alipay and led almost all the innovations in the payment history, including transaction guarantee, quick payment, mobile payment, prepayment and payment by facial recognition."   

At ATEC, we saw Ant Financial updating its cloud service and making it available to the public. And its independent sub-branded ZOLOZ is working to create a global platform for trusted identity based on its financial-level biometrics capabilities. At the same time, the blockchain technology of Ant Financial Services is open to the traceability of the imported food and products. The cloud service of the Ant Risk Control is designed to help the various industries solve the risk factors in their business, such as the wool party, credit fraud, scalpers, brush sheets and other matters.

On the Ant Financial’s end, these core technologies have already been used in the digital bank, Alipay, and many other businesses. Ant Financial is working to solve social concerns and needs by making these technologies available to the public. With the development of financial technology, the CEO Ant Financial Jing Xiandong said that science and technology are the key drivers of the future, and that the unchangeable principle of financial technology is to serve the users, micro and small enterprises. 

As a technology company at ATEC, Ant Financial hoped to show the layout of its technology and make it accessible to its partner around the world and to build the Ant Partners ecosystem globally. In addition, the ATEC will be held in the financial centres of science and technology around the world, including Silicon Valley, Singapore, London and other places, sharing its financial insight of the science and technology with the local audience.

Interested in the development history of Ant Financial Services Group? This book may meet your appetite!
The Great Global Journey - The Growth Stories of Ant Financial Services

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