How Will Ant Financial, China’s Fintech Giant, Be Impacted By New Regulations?
Ant Financial, which began as an online payment branch of Jack Ma’s internet marketplace behemoth Alibaba, is now an affiliate company that operates the largest online payments platform in the world. Ant Financial also has the world’s largest money market fund and offers insurance, consumer loans and securitization. With so much invested in financial technology, how will Ant Financial be impacted by potential regulation in China’s fintech sector?
Ant Financial’s ventures
Ant Financial is considered the largest fintech firm in the world. The company owns Alipay, a major online payments business with 870 million active users, as well as Yu’e Bao, a 1.5 trillion RMB money market fund with an annualized return of over 4%. Ant Financial is planning to add two additional money market funds to its offerings. Ant also offers insurance and had issued 258.8 billion RMB in consumer loan asset backed securities in 2017. Currently Ant Financial has 322 billion RMB outstanding in consumer loans. The company is making use of artificial intelligence in several areas, to provide answers to consumer questions, process data and process customer payments.
Ant Financial not only does business in China, it has investments in companies abroad. Ant is invested in payments firms Paytm in India, Ascend in Thailand, and M-Daq in Singapore, and has a number of other investments in fintech and startup businesses like One97 Communications, an Indian mobile-internet business and V-Key, a Singaporean digital security provider.
MAY 30, 2018 @ 05:28 AM
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