Jenny Chan 陳詠欣
Apr 14, 2015

Online banking: China's Internet giants turn financial upstarts

Access to big data and marketing on their owned assets will give Chinese internet kingpins an edge as they break into a newly approved online banking sector.

Virtual transactions: Tencent and Alibaba are staking out financial territory online

Just three years ago, virtual banks looked to be little more than inconsequential hype. But the internet is disrupting and reshaping China’s financial sector, and terms such as online finance’ and digital banking’ are rapidly becoming mainstream.

Chinese internet giants have secured approvals from authorities to set up privately-owned banks, ushering a new era in the traditionally tightly regulated banking sector. 

Tencent and its partners Baiyeyuan Investment and Liye Group have...

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