Zhejiang Ant Financial Services Group Co. Ltd. said it obtained regulatory approval to change its name to Ant Technology Group Co. in its business registration records, The Wall Street Journal reported June 22, citing a spokesman for the company.

The company wants to be referred to in English as Ant Group Co. to better reflect its role as "an innovative global technology provider" to businesses, including financial institutions, the spokesman noted. In Chinese, the company's legal name is Zhejiang Ant Small and Micro Financial Services Group Co. Ltd.

The name change will take effect after its records with the State Administration for Industry and Commerce are updated, according to the report.