Ant Financial and Lufax Look to Benefit from China’s Lending Crackdown

As the government cracks down on riskier lenders the more established brands of Ant Financial and Lufax look to become even more dominant; China’s top ten online lenders account for 36 percent of all loans and that number looks to continue to rise as smaller lenders look to be on their way out; the top lenders use spending analysis, AI and more to determine creditworthiness of borrowers; with the rise in wealth and spending power in China the dominant fintech firms are ideally positioned. Source.