After 12 years of being a China's leading third-party online payment solution and a leading brand of Internet personal finance, Alibaba's Alipay finally has a "brother"—Ant Fortune.
Through a one-stop, low threshold, intelligent financing platform, finance and investment will become merged into ordinary people's life, said a senior administrator of Ant Fortune.
As Internet financing market is booming, China's vigorous and creative Internet companies will not want to be left out of the picture, not to mention Tencent.
WeBank, the online lender set up by Chinese Internet giant Tencent, also launched its mobile APP lately. It mainly provides financial services, including demand and fixed deposit, buying and selling shares, as well as fund-investing services to individual consumers.
Without doubt, that two Internet giants Alibaba and Tencent launching online financial management platforms one after another added competition in the field of Internet personal financing services. By far, WeBank, the China's first Internet-based bank, are similar in function as Ant Fortune APP, as remote account opening is yet to take shape.
The newly launched Internet APP Ant Fortune focuses on Internet-based personal money management, a prudent financial channel that gains increasing popularity among Chinese grassroots users.
Ant Fortune APP offers access to demand deposit service Yu'e bao and fixed deposit service Zhaocaibao.
Statistics show that Zhaocaibao sees its scale expanded to 100 billion yuan (about 15.64 billion U.S. dollars) within one year since it was launched last year, and in the following two months, to 200 billion yuan (about 31.28 billion U.S. dollars).
There was actually a flood of optimism for such a channel since Yu'e bao, Alibaba's online investment fund, seems to have waken up their financial management consciousness. And that increased awareness accelerated the growth of this market.
