Jack Ma(3rd from right), founder and chairman of China's e-commerce giant Alibaba, attends the opening ceremony of MYbank in Hangzhou, capital of East China's Zhejiang province, June 25, 2105. [Photo/Xinhua]

MYbank, the Internet bank backed by e-commerce giant Alibaba Group Holding Ltd, recently launched a mobile application to better serve loan seekers.

The private lender said in a statement on Wednesday that the app aims to provide financial services, such as loans and wealth management, to small-and-micro businesses and a portion of individual users.

The bank, which started operations in June 2015, has offered financial services to more than 80,000 small-and-micro businesses and entrepreneurs.