Alibaba launches its own online bank
The Chinese company Alibaba Group is launching a new online bank MyBank. This startup will perform not only the functions of an online bank, all financial transactions that are carried out by Alibaba and its subsidiaries will pass through this structure, Pravda Teas reports . Thus, on the day MyBank will process transactions of approximately $ 9.3 billion.
The idea of creating this kind of bank is not new, but over the past few years (and the project appeared back in 2010), Alibaba had to postpone the launch of MyBank 3 times. The reasons for this were different. In 2015, the company decided to breathe life into the project, and increased the speed of work on the service. June 25, MyBank became a reality.
Alibaba invited Eric Jing to the post of executive director of the startup. This is a prominent figure in the Chinese financial sector. In particular, Jing is one of the co-founders of Alipay.
The main difference of MyBank from hundreds of other banks will be focusing only on working with loans for individuals. In addition, the bank will provide loans to small and medium businesses. Request a loan of 5 million yuan (about 800 thousand dollars) can be in the personal account of the bank site. In addition, MyBank will provide micro-loans. All transactions are carried out electronically - there are no branches, except for the main office.
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"The percentage of loans in our bank will always be below the market average, due to low maintenance costs and the absence of physical branches, unlike traditional banks," said Eric Jing.
It is worth noting that MyBank does not have so many employees - there are about 300 people in the whole of China. The starting capital of the company is $ 646 million.
The idea of creating this kind of bank is not new, but over the past few years (and the project appeared back in 2010), Alibaba had to postpone the launch of MyBank 3 times. The reasons for this were different. In 2015, the company decided to breathe life into the project, and increased the speed of work on the service. June 25, MyBank became a reality.
Alibaba invited Eric Jing to the post of executive director of the startup. This is a prominent figure in the Chinese financial sector. In particular, Jing is one of the co-founders of Alipay.
The main difference of MyBank from hundreds of other banks will be focusing only on working with loans for individuals. In addition, the bank will provide loans to small and medium businesses. Request a loan of 5 million yuan (about 800 thousand dollars) can be in the personal account of the bank site. In addition, MyBank will provide micro-loans. All transactions are carried out electronically - there are no branches, except for the main office.
')
"The percentage of loans in our bank will always be below the market average, due to low maintenance costs and the absence of physical branches, unlike traditional banks," said Eric Jing.
It is worth noting that MyBank does not have so many employees - there are about 300 people in the whole of China. The starting capital of the company is $ 646 million.
Source: https://habr.com/ru/post/293094/
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