Tencent Cloud and WeBank recently held a joint launch meeting in Beijing, announcing the establishment of a "fintech innovation lab" and the two parties will work together to develop financial technology applications targeting "open bank".

According to Tencent Cloud, this is a development concept basing on "open bank". The lab will implement joint exploring research and technology innovation on three levels, including architecture, financial application, and experience innovation.

The two parties will jointly explore distributed computing, distributed database, quantum communications, and intelligent operation and maintenance and apply those in bank technology architecture.

They will work on various fintech application practices such as intelligent risk control, financial security, and Blockchain to meet demands of "open bank" scenes. They will also combine advantageous product design ability and operating experience to explore financial service experience innovation methodology.

Official information shows that Tencent Cloud currently has over 6,000 clients in the financial sector.