In documents reviewed by the FT Ant Financial says they now have more than 620 million users and their wealth...
Bitcoin Exchanges Try to Lure High-Speed Traders like Virtu and Citadel Zopa to boost regulatory clout ahead of Brexit PBoC...
In this week’s WeiyangX Fintech Review from Crowdfund Insider they cover financial inclusion platform FINUP’s IPO listing on Hong Kong;...
Chris Skinner’s new book called Digital Human will be launching this month; he sat down with Ashok Vaswani, CEO of Barclays Bank UK, and Li Wang, Head of Alipay and Ant Financial for EMEA at his London book launch; in this blog post he shares video of the panel which took place; some of the highlights include Ashok sharing how Barclays has been able to adapt over the 300 years it has been in business and the certainty he has that they will be able to adapt going forward; Li shares how each employee at Ant generates RMB100 million or over £10 million in revenue per year, a stark contrast to efficiency at banks. Source
This week’s WeiyangX’s Fintech Review in Crowdfund Insider covers a Reform plan by China to combine the China Banking Regulatory Commission (CBRC) & the China Insurance Regulatory Commission (CIRC) into one entity; Ant Financial struck an agreement with Pakistan’s Telenor Group to acquire 45 percent of Telenor Microcredit Bank for more than $184mn; JD Finance is raising more than $2bn for license acquisition, research and marketing; China is also looking to establish a standardization committee for uses of blockchain technology. Source.
DBS Banks has been in the midst of changing the way the bank operates, culturally and competitively; they now find...
Ant Financial is unlike any other company in the world, providing a wide swath of products and services; the company...
Ant Financial has become a fintech giant in China and is currently valued at more than $150bn; while their successes are well known the company does have a number of pending issues; the company operates in legal limbo, their chairperson is leaving, regulators are becoming more active and competition is increasing. Source.
Speaking at the Development High-Level Forum, CEO Eric Jing called Blockchain, “the cornerstone of trust for the digital society in the future.”; while Jing is bullish on the long term outlook for blockchain technology he also curbed enthusiasm stating that it isn’t ready for a “large-scale outbreak”, comparing the current speculation similar to the internet bubble; he also shared that the technology will be more applicable in the next 2-3 years and that there were still some challenges to overcome. Source
From the beginning of 2017 Ant’s consumer lending business has doubled; this is a result of growth in their Huabei and Jiebei business units; Chinese regulators have recently made it harder for companies like Ant to create ABS; according to data from Bloomberg, Ant Financial’s ABS Sales account for a third of issuance by all Chinese corporate issuers. Source