China’s top ride sharing app Didi Chuxing has made the move into financial services by offering car insurance, personal loans and a crowdfunded medical insurance product; the new products are available through the ride sharing app or in a standalone app named Didi Finance; the move will put the company in direct competition with Tencent and Ant Financial; Didi plans to use their vast wealth of data collected to determine credit worthiness and what product is right for an individual person; the company had a tough 2018 with new regulations and violent incidents that put the company in the headlines for all the wrong reasons. Source.
