綠色BN
2014-10-22

Banking News This Week – Oct 22

The top 5 banking news stories in emerging markets this week.
banking-news_cover
1 – Official Launch of Ant Financial Services Group Brings New Financial Ecosystem to China
Small and Micro Financial Services Company today announced its official name change to Ant Financial Services Group (“Ant Financial”). Formerly known as Small and Micro Financial Services Company, Ant Financial initiated its formation process in early 2013 and is comprised of Alipay, Alipay Wallet, Yu’e Bao, Zhao Cai Bao, Ant Credit and MYbank which is currently being established.
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2 -Kenya: 93 Percent of Kenya’s Consumers Using Mobile Devices for Banking
Kenya remains the king of mobile banking, with 93 per cent of consumers using their mobile device to perform banking, but there is also significant usage in the Middle East (78 per cent) and Nigeria (85 per cent up from 76 per cent in 2013). >>

3 – Banks Face Powerful Competitors In The Payments Business
The global payment business is growing at a healthy pace and by 2018 will account for 43 percent of all banking revenue.The digital transformation of payments, particularly through smartphones and tablets, is helping to grow merchant payments. >>

4 – Internet financing booms in China amid challenges
According to a recent report by iiMedia Research, a third-party data mining agency, 61 percent of China’s more than 600 million Internet users have used Internet financing products. >>

5 -Alibaba’s Alipay Launches A Groundbreaking Concierge Service For Global Retailers
Alipay U.S. chief Jingming Li to discuss new developments, its partner deals with Gilt and H&M, and navigating regulatory challenges in China. A video and transcript of our conversation follows. >>


  By April Wu 
  China Market Strategy

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