China CITIC Bank and Baidu announced the creation of AiBank as they look to take advantage of the innovating China fintech market; the bank will provide lending services to consumer and SMBs, be comprised of 60 percent tech workers and leverage big data and AI; “AiBank is the future of intelligent finance … It is an institution that understands customers best and understands finance best,” noted Baidu’s COO, Qi Lu. Source.
