Over the past decades, the wired world of tech and business have come to dominate economies around the world, and nowhere more than in China and the United States. Interestingly, the power of these massive, almost monopolistic, tech giants, as well as their role and impact on society, are now finally being reconsidered in both places.
Currently the most valuable fintech company in China, Alibaba’s Ant Financial owns a myriad of businesses: China’s largest payment tool AliPay and a variety of financial services in areas like banking, funds, insurance, credit scoring systems, etc. With over 400 million active users, it has ambitions to expand further into the Chinese hinterland as well as into global markets—something never done by Chinese financial companies before. How will Ant realize its elephantine goals? What is the logic behind its diverse businesses and which one is the focus? Can Ant become the Taobao of the financial industry? We offer some answers.
In a short space of time Alibaba’s Ant Financial has created—and scaled—a diverse set of financial products and services: from online payments to cloud computing and data services.