Ant Group (formally Ant Financial) was founded by Alibaba in 2014 and is now the largest fintech platform in the world servicing individual customers and small businesses.
Ant Group offers an easy-to-use platform that is transforming financial services in China by making them available to everyone at a reasonable cost. Its services include online banking, mobile payments, wealth management, credit scoring, small business banking and a financial cloud.
Customers are consistently increasing the number of the platform’s services they use. This reinforces Ant’s extraordinary advantage. It knows who is buying what and whether they pay their bills on time, so it can create financial products and solutions that (it already knows) customers want.
The business model is capital-light and generates a recurring income that supports existing operations and is reinvested in future growth prospects. Ant positions itself as an enabler supporting the future financial needs of a changing society.
The culture of Alibaba has very much been adopted by Ant Group. This means there is a long-term approach and a tech-driven mindset that engenders innovation. The main difference from Alibaba is that Ant Group is even more mission-driven.
in June 2018.
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