Alibaba affiliate Ant Financial's core business in the future will be technology services, rather than just payments, its CEO told CNBC in an exclusive interview.
Ant Financial runs one of China's largest mobile payments platform, called Alipay, which has more than 700 million annual active users. It's Ant Financial's main business currently.
But the Chinese giant recently announced a new brand that will look to sell technology services to financial institutions like banks. Ant Financial has invested in a number of technologies such as blockchain, the system that underpins the cryptocurrency bitcoin. Ant is not developing a cryptocurrency but is exploring applications of the underlying technology.