Online Finance news and trends

Ant Financial Ready To Take On Tencent’s Internet Bank

June 26, 2015
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Ant Financial Ready To Take On Tencent’s Internet Bank

June 26, 2015
The Alibaba affiliate Ant Financial has officially launched its Internet bank, MYbank. Reuters reported yesterday (June 25) that the online bank that’s aimed at assisting SMEs in China has kicked off business with roughly 4 billion yuan ($644 million) of capital to help shell out loans. This move by Ant Financial into the Internet-based financial institution […]