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Cloud Walk Technology Co. and PCI Co. from Chongqing's Liangjiang New Area recently signed a cooperation contract, according to the Liangjiang administrative committee.

The contract will allow the two companies to share their resources in technology, products and services to promote face recognition technology in the finance industry.

Cloud Walk Technology Co was established in the first half of this year. Its technical team is from the Chongqing Institute of Green and Intelligent Technology of Chinese Academy of Sciences. As the only face recognition technical team in the Chinese Academy of Sciences, the team has participated in a number of key state-level projects in West China.

Zhou Xi, Cloud Walk Technology Co's president, led the group to develop a face recognition payment system last year.

As a contactless biometric technology, face recognition technology has played a significant role in the development of the Internet finance industry.

To support the development of innovative enterprises such as Cloud Walk, Liangjiang New Area has established a special fund to support innovative research in such areas.

Edited by Jacob Hooson