Financial service providers continually explore new market opportunities. Fintech plays an increasing role of importance in this regard. In fact, Ant Financial sees a lot of merit in the fintech sector. So much even that the group is launching a new fintech brand, known as Ant Financial Technology.
It is interesting to see how financial players look at fintech in 2018 and beyond. Just a few years ago, the industry was shunned and dismissed as a fad. Things have certainly taken an interesting turn ever since. Ant Financial is the latest group to get on the fintech train. Its new brand will focus solely on technology products and services.
Fintech is the new Frontier for Financial Companies
Through Ant Financial Technology, the prominent financial firm is officially venturing into fintech. This move appeared to be a matter of time. The company had laid out its plans for new financial products and services in recent months. Five key points of focus are identified, ranging from blockchain applications to financial security and intelligence. All of these technologies have seen a notable increase in interest and overall market versatility.
Ant Financial Deputy CTO Xi HU adds:
“Since our establishment in 2014, Ant Financial has focused on developing cutting edge technologies to enable inclusive finance. We are pleased that our technology products and services have already been used to improve efficiency and lower costs at approximately 200 financial institutions, including more than 100 banks, over 60 insurance companies, and more than 40 asset management firms and security brokers. Going forward, we will offer a full suite of technology products and services to power the growth of our financial institution partners and help them extend their services to more individuals.”
All of these new products and services are primarily designed for the financial institutions around the world. With a focus on efficiency and scalability, the world of finance may look very different in a few years from today. Financial technology is an industry going through rapid development. At the same time, fintech continues to make an even bigger impact on finance as more time progresses.