JD Finance launches its own cloud services platform

JD Finance, the financial subsidiary of China's second biggest e-commerce player JD.com Inc, launched an enterprise-level cloud services platform on Monday, by leveraging its big data, cloud computing and artificial intelligence to better serve financial institutions.

The cloud platform offers intelligent risk control, intelligent investment advisory, intelligent payment and transaction by virtue of face recognition technology, graph calculation and other AI technologies to enhance the work efficiency for financial institutions, said JD Finance.

"We define JD Finance as a partner, but not a subverter to the financial institutions. We help banks improve their efficiencies in credit authorization by more than 10 times and reduce the costs by 70 percent, and by virtue of our AI technologies, the ratio of bad loans and capital loss rate is nearly 50 percent lower than the industry average," said Liu Qiangdong, founder and CEO of JD.com.