. Launched in August 2015, the app – part of Ant Financial, an affiliate of e-commerce giant Alibaba – now has some 25 million active users. to create a financial services ecosystem of unparalleled breadth. Ant Financial’s push in online financial services comes amid heightened regulatory attention. You may opt-out by. Yue Bao made investing in a money market fund easy for consumers. (Zhao Cai Bao is now an investment platform with a secondary P2P market for fixed-term deposits.) Yue Bao, Chinese for ‘leftover treasures,’ is Ant’s money market fund. All of China’s 116 mutual fund managers are on the platform that reaches 180 million users. For companies suddenly faced with the prospect of competing against Ant Financial, the recipe for success is to combine the best aspects of Ant’s model with what traditional financial institutions already do well. Meanwhile, Ant Fortune has democratized asset management and retirement planning. Ant Fortune, the investing app of Ant Financial Services Group (Alibaba Group’s finance affiliate), unveiled recently Caifu Hao (财富号 or “Fortune Account” in English) which will allow third-party financial institutions to set up shop inside the app.. As regulation increases, Ant is leaning more and more on its platform model, acting as facilitator rather than traditional lender. All of China’s 116 mutual fund managers are on the platform that reaches 180 million users.

that Ant will move towards tech services revenue and seek partners to handle loan issuance. I contribute to Forbes, and previously I freelanced for SCMP and Nikkei. In a country where most large financial institutions are owned or controlled by the government, Ant’s success is unusual. Reach her at traceyxiang@gmail.com Alipay has over 700M active users and completed over $8 trillion in transactions in 2017.

For example, we’ve recently written about the benefit of. Get instant access to all our premium content, archives, newsletters, and online community. Zhao Cai Bao oversaw $40.7 billion in transactions by the end of July, according to Ant Financial. Prior to Beijing, I spent six months as an intern at TIME magazine's Hong Kong office. Platform Innovation | Topics: Enterprise Hacks brings the community of corporate innovators together to beat big tech at its own game. Given that banks typically reject the majority of potential borrowers, this marketplace approach gives them a way to retain the customer relationship while also bringing new customers into the financial services ecosystem. The wealth-management app, Ant Fortune, offers 900 products from more than 80 Chinese fund institutions without charging commission fees, according to an Ant Financial statement. An account could be opened for as little as 1 yuan ($0.15). The draft regulations have triggered an online backlash with critics saying the central bank is stifling innovation and protecting the interest of state-owned banks, which have long lobbied for stricter rules against Internet-payment companies as they face tougher competition from the likes of Alipay. The Investment Personality Test, developed by Schroders* and customised for Chinese investors by Ant Fortune, is accessible via their mobile Wealth Management platform and available through the Alipay app, a major payment and lifestyle platform. Instead it’s shifting toward opening up its platforms more to larger financial institutions. as a safeguard against bad debt. Most importantly, the platform’s algorithm recommends funds based on each user’s financial profile and goals, thereby closing financial literacy gaps that in the past may have prevented many users from investing. This shift will better align Ant with the government’s strategy in the financial sector while enabling it to innovate and grow at what it does best – building platforms.

The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. It’s also gotten involved with high profile partnerships in Europe, but has made less headway in that region – at least for now. That Ant offers both platform (Ant Fortune) and linear (Yue Bao) asset management services suggests that the platform transactions yield a large enough margin to justify Ant’s continued investment in it. Ant Fortune will also help push their products to targeted users, according to the company. Photo credit: AP Photo/Kin Cheung. Yue Bao was able to use Alipay data to identify users who left a positive balance in their Alipay digital wallet. In 2017, the Chinese government required money market managers to set aside 0.5% of net assets as a safeguard against bad debt.



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