Backed by Ma: MyBank is backed by billionaire Jack Ma’s Alibaba Group Holding Ltd. Alibaba affiliate company Ant Financial owns 30% of the online lender. — AFP
DURING the height of the fintech revolution that’s been taking place over the last few years, one prominent banker in Malaysia made an interesting comment during a private dinner.
The banker said that while he welcomes fintech companies into the market, he wasn’t really afraid of losing any significant business to them. What he really feared, if anything, were the technology giants turning on a banking facility for the millions of users they have on their platforms.
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