Two Asset-Backed Securities (ABS) financing programs belonging to Ant Group's online lending subsidiaries, with a combined issuing scale of 20 billion yuan ($3.03 billion), have been approved, according to a release by the SSE Corporate Bond Information of … Borrowers complete their online loan applications in 3 minutes, obtain approval in 1 second, with 0 human interactions. Ant Group, the Alibaba -backed fintech company that owns the digital payments platform Alipay, will soon go public in one of the biggest IPOs in history. ... a subsidiary of S&P Dow Jones … It developed the "310 lending model", which enables borrowers to complete loan applications online in three minutes, obtain approval in one second, and with zero human intervention. Ant Group, an affiliate of Alibaba, announced plans for its long-awaited dual listing in Shanghai and Hong Kong on Monday. 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 15 December 2020, at 05:36. Borrowers complete their online loan applications in 3 minutes, obtain approval in 1 second, with 0 human interactions. Currently, Zhima Credit has been able to help users waive more than RMB 100 billion of required deposits. Pretty nifty. Ant's co-lending subsidiaries Huabei and Jiebei would also no longer be allowed to sell wealth management products, analysts said. For the six months ended in June 2020, Ant reported revenue of 72.5 billion yuan — or $10.5 billion. Ant Group aims to create the infrastructure and platform to support the digital transformation of the service industry. Ant Group was floated as a potential US target by Bloomberg News, ... a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN… Users can enjoy up to 40 days of delayed re-payment free of charge and 12-month installment services. MYbank is committed to serving small and micro businesses. Ant Group owns Alipay, one of the dominant payment companies in China, alongside other subsidiaries which include lenders to consumers and small … Ant’s filing says Ma owns about 11% of the company, a stake worth US$34 billion at Ant’s US$313 billion valuation. Ant, the financial technology company affiliated with Chinese e-commerce group Alibaba , plans to list simultaneously in Hong Kong and Shanghai. Ant Group subsidiary Ant Financial Services (Hangzhou) Web Technology Co., Ltd. (蚂蚁金服（杭州）网络技术有限公司) is the full owner of Ant Data Sciences, while Hu Xiaoming (胡晓明) is its legal representative and executive director, and Wang Lijuan (王丽娟) is its general manager. Ant Group runs Alipay, one of … When someone transfers money to Yu'e Bao, it will be put into a money market fund managed by a partner asset management company, generating returns for the user. BEIJING: Jack Ma, founder of China's e-commerce giant Alibaba, and his senior executives were summoned on Monday by Chinese regulators for talks, just days ahead of the world's biggest initial public offer of USD 39.7 billion shares of the group's subsidiary - the Ant Group. Ant Group is a subsidiary of Alibaba Group and was formed in 2014 to manage Alipay — a digital payments platform with over 711 million active users. The company's platform Alipay has developed from a payment tool to a one-stop digital daily life platform. That’s the story of Ant Group, a subsidiary of Alibaba (-Get Report), the Chinese internet giant. Ant Group aims to create the infrastructure and platform to support the digital transformation of the service industry. MYbank is one of the first private banks piloted in China and the first online bank with no physical branches. Profits over the same time period were 21.9 billion yuan — or $3.2 billion. Ant Group General Information Description. Alipay – a mobile wallet app supports make and accept payments. Ant Group Co Ltd is a provider of digital payment and digital financial technology platforms. Xiang Hu Bao, which means “mutual protection”, is an online mutual aid platform within the Alipay app. Alipay is China’s largest mobile payments business operated by Ant Group. The platform primarily leverages the capital from financial institutions and other institutional investors. In 2004, Alipay launched as an escrow service to address the issue of trust between online buyers and sellers in the early days of e-commerce in China. As an Alibaba subsidiary, Ant Group offers financial services to consumers and small businesses, many of which may be underserved. Since inception in 2015, the bank has served over 29 million small and micro businesses, as well as individual entrepreneurs. Ant Group's highly anticipated IPO has been suspended following a meeting between the company's billionaire co-founder Jack Ma and regulators in … MYbank (a partly owned subsidiary of Ant Group) is a crucial player in this function, providing the loans and operating off of the "3-1-0 principle." Among them are the wholly-owned subsidiaries of Ant Group, as well as Greenland Finance, Hong Kong Lianyirong, and Beijing MinIPO formed a consortium to obtain a wholesale digital bank (DWB) license, which will set up a digital bank temporarily named as GLL Bank. Read more Ant Group and Alibaba are both sizeable investors in, and customers of, Megvii Technology, an artificial intelligence (AI) startup that specializes in facial recognition technology. That portion falls far short of the minimum 30% required in new draft rules released Monday. Ant’s two co-lending subsidiaries Huabei and Jiebei will no longer be allowed to sell wealth management products based on the new rules, analysts noted. Insights about top trending companies, startups, investments and M&A 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=994339699, 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). Ant Group strives to enable all consumers and small businesses to have equal access to financial and other services through technology. We strive to enable all consumers and small businesses to have equal access to financial and other services that are inclusive, green and sustainable. MYbank (a partly owned subsidiary of Ant Group) is a crucial player in this function, providing the loans and operating off of the "3-1-0 principle." Ant Group IPO – follow up. Pretty nifty. We strive to enable all consumers and small businesses to have equal access to financial and other services that are inclusive, green and sustainable. As an inclusive financial service that offers loans in small amounts to individual users, Huabei is mainly used for consumption in daily life. The platform's over 600 million users can also access the funds in their Yu’E Bao accounts to make online and offline purchases anytime. • Alipay – a mobile wallet app supports make and accept payments. This list of organizations invested in by Ant Group provides data on their funding history, investment activities, and acquisition trends. Huabei is a consumer credit platform that supports consumers to “buy now and pay later”. Yu'e Bao is an online spare cash management platform launched by Ant Group in the Alipay app. It provides a basic health plan to protect participants against 100 kinds of critical illnesses. Ant Group is "most interesting" Fintech of all time because it provides blueprint for how unbanked will come online, industry exec explains. Alipay has grown through continuous innovation to serve approximately 1.3 billion users worldwide together with its global e-wallet partners. Zhima Credit is a private and independent credit assessment service built for commercial use. All participants share the risk of critical illnesses and bear the related expenses collectively, while blockchain technology is used to ensure claims are transparent. Users with a higher Zhima Credit scores can enjoy benefits such as deposit waivers when renting a bike or staying at a hotel. Now, Alibaba has a 33% stake in Ant through its subsidiaries, a move that analysts thought would help the Chinese e-commerce giant benefit from a potential Ant IPO down the line. Ant Group said that the two sides exchanged "views regarding the health and stability of the financial sector." ANT Capital LLC is a full scale real estate company which was incorporated in State of Florida in 2014 as a subsidiary of ANT Group of companies. We are dedicated to service the most exclusive and luxurious Clientele around the world looking for Luxury homes and condominiums for … Alibaba has subscribed to Ant shares to prevent the IPO from diluting its stake. Beijing,Nov.3,2020 (dpa/Naija247news) The Initial Public Offering (IPO) of Chinese tech giant Alibaba’s subsidiary Ant Group was cancelled unexpectedly two … While Xiang Hu Bao is not a health insurance product, it complements other premium insurance offerings in the market that have a wider range and depth of coverage. Ant … In February 2018, Alibaba, through its subsidiaries, took a 33 per cent equity stake in Ant, which it still holds. Following on from our last blog post on the Ant Group IPO where we identified regulatory risk as the greatest uncertainty that Ant faces, just such a risk materialised earlier this week when Chinese regulators suspended Ant’s IPO two days before it was set to debut on the Shanghai and Hong Kong stock exchanges. Privacy PolicyOur Commitment to Customer ProtectionAnnouncement. 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