How A Little Ant Challenges Giant Banks? The Rise of Ant Financial (Alipay)'s Fintech Empire and Relevant Regulatory Concerns
International Company and Commercial Law Review (2018), Sweet & Maxwell, ISSN: 0958-5214, Vol. 28(1), pp. 12-30
19 Pages Posted: 15 Oct 2017 Last revised: 31 Jan 2018
Date Written: January 1, 2018
Abstract
This article examines the development, business model, legal and regulatory aspects of the world’s largest fintech company – Ant Financial Services Group (Alipay). It offers an insight into how the buoyant fintech sector is reshaping the landscape of the financial industry as well as what challenges fintech has posed to traditional banks. Moreover, it points out certain financial risks associated with Ant Financial’s innovative services that merit attention from global financial regulators.
Keywords: fintech, financial regulation, Ant Financial Services Group, Alipay, Alibaba, mobile payment, China
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