Future of global Fintech from Ant Group’s view

The cryptocurrency prominence of Ant Group – China largest Fintech company, is likely to be even more evident by listing in Hong Kong and Shanghai. Once listed, Ant Group may have a value equivalent to the world's largest bank JPMorgan Chase.

Spun off from Alibaba, Ant Group e-commerce company has more than 1 billion users, mostly in China, and the payment network now has $ 16 million transactions in 2019, connecting 80 million merchants.

Payments are just a small part of the chain. Users can borrow money, choose from among 6,000 investment products and purchase health insurance.

Fintechs currently offer the majority of consumer loans in Sweden. In US, credit card companies like Visa or PayPal and big banks are cooperative and competitive at the same time. Tech giants like Apple and Alphabet are also involved &  being attracted by this financial industry's total global profit of $ 1,500 trillion.

Fintech has the potential to bring great benefits in terms of efficiency. If listed banks in the world cut costs by one third, the savings would be worth $ 80/year per user.