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ant financial technology

Ant Financial has disrupted the financial industry more than anyone else. Open technology capabilities are expected to become the core monetization model of Ant Financial, according to the firm. Conducts the flagship Intelligent Investor Immersive program under Dr Wealth. I have only covered the mobile payment, money market fund and micro-lending. Most people would think that Alibaba owns Ant Financial. They definitely want a piece of it. Alipay has moved beyond China and offered its mobile payment to other countries such as Singapore, Japan, South Korea, U.S., Canada, U.K, Italy, Iceland, Norway, Australia and New Zealand. Hence, Alibaba should have some upside when Ant Financial is spun off through an IPO eventually. The assets dipped and Yu’e Bao lost its throne to two other money market funds – JP Morgan US Government Money Market Fund and Fidelity Government Cash Reserves. It can extend a credit to purchase an item before you check out if you are credit worthy according to Sesame Credit – bypass the need for a credit card. Alibaba was focused on B2B and Taobao was launched to move into the C2C space. This legitimised Alipay as a payment solution provider and coupled with the technology, it revolutionalised the way people make payments in China – including the enablement of cashless payments in the stores. Built a business to empower DIY investors to make better investments. Day Trading HSI & DAX Signals, Blog postCase StudiesVideosInterviews#AskDrWealth, CEO of Dr Wealth. Mybank has lent ¥2 trillion to 16 million small companies in 4 years. Learn more about how we use cookies in our cookie policy. Mybank has lent ¥2 trillion to 16 million small companies in 4 years. However, the Alibaba affiliate is gradually finding a new position as a technology services company. After finding success in mobile payment, Alipay found itself in a world of possibilities – technology can do a lot more to improve the state of the financial industry. Alipay was rebranded as Ant Financial Services in 2014 as their financial services went beyond payments. Get instant access to all our premium content, archives, newsletters, and online community. You have to understand that most individuals do not qualify for credit with the banks because they lack data needed for proper credit rating. Alibaba has enough transaction records of their customers and could analyse their purchasing behaviour on their platforms. The history was more complicated than this. Huabei (Ant Credit Pay) – a virtual credit card type of product that facilitates credit payments, MYbank – a private online bank that lives entirely on the cloud, Jiebei (Ant Cash Now) – a consumer loan service, Ant Fortune – a comprehensive wealth management app, ZOLOZ – a global biometric-based identity verification platform, This page was last edited on 4 November 2020, at 23:55. By outsourcing all of its technical capabilities that have been mastered by running Alipay, the company is turning traditional financial service providers from competitive rivals to cooperative clients. Reach her at lixin@technode.com. Ant Financial is really a force to be reckoned with and revolutionising finance in so many aspects. After opening up its payments services to a wide range of online and offline businesses, Ant Financial announced an “Internet Booster” plan in 2015 to support the digital transformation of traditional financial institutions by sharing Ant Financial’s technological capabilities. We do not have the financials and an IPO price to determine the deal is a reasonable one but we can conduct some qualitative analysis by looking at the history and the business model of Ant Financial. Alipay 支付宝 held more than 50% market share in China while Tenpay 财付通 (the company powering WeChat Pay) had close to 40% in 3Q2019. Ant Financial is opening up its technology capabilities to financial service institutions for them to solve problems in financial security, massive financial transactions, and blockchain applications announced Hu Xi, Deputy CTO of Ant Financial and Partner of Alibaba Group, at The Computing Conference. You might think this just another credit or lending facility. But Ant has made an impact in insurance too, signing up 100 million users under Xiang Hu Bao 相互保 within the first year of its launch. Ant Financial is opening up its technology capabilities to financial service institutions for them to solve problems in financial security, massive financial transactions, and blockchain applications announced Hu Xi, Deputy CTO of Ant Financial and Partner of Alibaba Group, at The Computing Conference. Ant Financial has flirted with the IPO idea a few times in the past. For all we know, they may delay the IPO again. Yu’e Bao 余额宝 was launched in 2013 as a money market fund and it became wildly popular. This was crucial in increasing the transactions on Taobao in the early days and beat eBay eventually. As of September 2017, Ant Financial unveiled its facial recognition payment technology through its Alipay services. Net Net Hunting Newsletter Jack Ma knew that the Chinese government will never grant a license to Alipay because of its foreign ownership. Alipay grew in popularity and its app has been a mainstay in many smartphones because of its utility – the user could pay for almost everything in life – QR code payment in the stores, bills payment, money transfer, prepay mobile phone top-up, bus and train ticket purchase, food order, ride hailing, insurance selection and of course, pay for items on Taobao and Tmall. Coupled with Alibaba’s strong e-commerce presence, Ant Financial will have access to a mass customer base and fuel its adoption of all its products. More by Emma Lee. But it wasn’t easy to get the transactions going because the buyers and sellers were not familiar with this new way of commerce. Ant Financial is not resting on the laurels even after conquering the markets with mobile payment and the money market fund – it launched Sesame Credit in 2015. But this arrangement was superseded after Alibaba acquired 33% stake in Ant Financial in 2019. It isn’t confirmed yet! But Ant has made an impact in insurance too, signing up 100 million users under Xiang Hu Bao 相互保 within the first year of its launch. It also runs Sesame Credit, a third-party credit rating system. Taobao has a massive customer base and the users are comfortable transacting via Alipay. Jack Ma wanted to compete and win. The Chinese government started tightening the regulations and a state-run television attacked online money market funds like Yu’e Bao. An author of, Personal Finance Masterclass (Online Course). Open technology capabilities are expected to become the core monetization model of Ant … Ant Financial has disrupted the financial industry more than anyone else. I have mentioned in previous occasions that the biggest threat to finance isn’t coming from a fintech company but more likely from a popular mass market product / service company. TechNode", "Ant Financial acquires UK payments firm - Chinadaily.com.cn", "Trump administration to consider adding China's Ant Group to trade blacklist - sources", "U.S. Explores Curbs on Ant Group, Tencent Payment Systems", "Exclusive: Trump administration shelves bid to blacklist China's Ant Group - sources", "Alipay Overtakes PayPal As The Largest Mobile Payments Platform In The World", "Chinese money market fund becomes world's biggest", "Data From Alibaba's E-Commerce Sites Is Now Powering A Credit-Scoring Service", "Pay with your face at this KFC in China", "Ant Financial Group to create one brand across its financial products", "Hoping to Strike Gold Again, Silver Lake Leads Investment in Koubei", "How Ant Financial grew larger than Goldman Sachs", "Alibaba Finance Affiliate Launches Fund Investment Smartphone App", "Millions Rush to Join a Wild New Health Plan From Jack Ma's Ant", "Chinese initiative Ant Forest wins UN Champions of the Earth award", "Alibaba-linked Ant Forest wins top UN green award - Chinadaily.com.cn", "Megvii, the Chinese startup unicorn known for facial recognition tech, files to go public in Hong Kong", "Chinese AI start-up Megvii raises $750 million ahead of planned HK IPO", "Alibaba-backed facial recognition startup Megvii raises $750 million", "AI unicorn Megvii not behind app used for surveillance in Xinjiang, says human rights group", "Addition of Certain Entities to the Entity List", "李开复"口误"?起底"数据交易"传闻下的旷视科技:卖摄像头才是"主业",蚂蚁是最大股东", "Fintech: AI powers financial services to improve people's lives", "Alibaba's Ant Financial partners with Hutchison to develop its Alipay service in Hong Kong", https://en.wikipedia.org/w/index.php?title=Ant_Group&oldid=987109629, Financial services companies established in 2014, Pages with non-numeric formatnum arguments, Short description is different from Wikidata, Articles containing Chinese-language text, Articles containing simplified Chinese-language text, Creative Commons Attribution-ShareAlike License, Zhou Zhifeng (Board Secretary and General Counsel), Angel Zhao (President of International Business Group), Huang Hao (President of Digital Finance Business Group), Geoff Jiang (President of Intelligent Technology Business Group), Douglas Feagin (Senior Vice President of Global Business).

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