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[Editor’s note: This is a guest post and white paper from Lufax. Lufax is a gold sponsor and will be in attendance at LendIt...
According to a new report by BCG and Lufax there is a significant opportunity for digital wealth management firms; market...
One of China’s leading online wealth management companies Lufax is looking to go public in Hong Kong at a $60bn valuation; the South China Morning Post reports the company intends to file their application by the end of January; Lufax was last valued at $18bn in 2016, they have more than 33 million users and over $75bn in assets under management. Source.
The year is barely two weeks old and we have already learned of IPO plans for two of the world’s...
Peter Renton, Founder of Lend Academy and Co-Founder of LendIt shares his perspective on the likely fintech IPOs in 2018. Source
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.
On the heels of the Ant Financial IPO news earlier this week leading Chinese online wealth management platform Lufax is...
Chinese lenders are moving into Southeast Asian countries to explore new opportunities in lightly regulated countries; according to Global Times, over 50 Chinese lenders have already launched overseas operations in countries like Indonesia and Cambodia; current entrants include well known names like CreditEase, Lufax and jimu.com; some lenders are opening up subsidiaries while others are focusing on partnerships with local companies. Source
Hedosophia is not a household name, and that is by design. The fund is one of the most secretive investors...
Lend Academy talks with Greg Gibb, CEO and co-chairman of Lufax; Greg Gibb talks about the founding of the business as a P2P platform, its relationship with Ping An and how it has evolved to become a broader provider of wealth management product offerings; the podcast interview also discusses Lufax's future plans for international expansion and a potential IPO. Source