First Digital-Only Bank in China Joins Linux Foundation

WeBank will collaborate with global open source community to advance innovative banking with a federated learning framework

News provided by

The Linux Foundation

Sep 17, 2019, 11:30 ET

SAN FRANCISCO, Sept. 17, 2019 /PRNewswire/ -- The Linux Foundation today announced that WeBank is joining at the Gold level. It joins Alibaba, Dell, Facebook, Toyota, Uber and Verizon among other Linux Foundation members at this level.

WeBank is both the first privately-owned bank and the first digital-only bank in China. It was built with technology at its core and is committed to promoting innovative technologies. It recently led the transfer of the FATE (Federated AI Technology Enabler) to the Linux Foundation. FATE is a federated learning framework that fosters collaboration across companies and institutes to perform AI model training and inference in accordance with user privacy, data confidentiality and government regulations.

"WeBank embodies the values and ideals inherent in open source development, things like innovation and collaboration. Its leadership on projects like FATE demonstrate its commitment, and we look forward to its deepening work with Linux Foundation projects and communities," said Jim Zemlin, executive director at The Linux Foundation.

"WeBank understands the value of collaboration and that no one can innovate alone. The Linux Foundation is able to connect us with a diverse community of open source projects and members around the world," said Tianjian Chen, Deputy General Manager of AI, WeBank.

As a high-tech full-digital bank built on open source software, WeBank aims to initiate a global banking innovation based on open-source software ecosystem. It will initially contribute to FATE, Linux Foundation AI, Cloud Native Computing Foundation, LF Edge and Confidential Computing Consortium.

About the Linux Foundation
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SOURCE The Linux Foundation