Beijing Yusys Technologies Group published an announcement, stating that they have gained about CNY600 million strategic investments from Baidu.
Yusys Technologies is a leading banking IT solution provider in China. With the strategic cooperation, Baidu will enhance its force in the fintech sector.
The two parties will implement cooperation in key sectors like financial cloud, big data, artificial intelligence, and blockchain to promote the large-scale realization of cloud and AI in the financial industry and accelerate the intelligent upgrade of the financial industry.
It is said that the two parties will connect technologies and scenarios and implement in-depth integration of technologies and products. They will realize innovative cooperation in financial cloud, distributed database, big data analysis platform, intelligent financial brain, blockchain, trusted computing, and intelligent interaction, fully play synergy effect, enhance financial industry solution capability, and improve financial IT service.
Baidu has a long-term layout in the financial sector. Prior to this, the company has completed its distribution in bank, third-party payment, fund sales, insurance, credit information, and exchange.