Title: How big is ANT GROUP from Alibaba?
Website: https://www.pascalcoppens.com/

CONTENT: This video explains why Ant Group will become the main disrupter for the financial service industry in the world. Ant Group is the biggest FinTech or TechFin because of their innovation power on AI, Blockchain and Cloud, ecosystem offering as well as focus on SMEs and consumers instead of large deals.

TRANSCRIPT

How did they achieve to become this giant?
We have to look at four things that they do extremely well at Ant Financial.
One of the things is that in China itself,
Ant has what we call Alipay.
Alipay is a payment system
and 54% of all the payments in China,
that's 1 out of 2 Chinese that are using digital or mobile payments,
are using Ant Financial.
There are 900 million to be exact,
at our customer of Ant Financial and this means that everybody is constantly using Ant Financial products
in this cashless market which China is today.
On top of that,. Ant has been expanding outside of China;
countries such as India, Pakistan, Malaysia and lots of other places in Asia.
They already have 300 million users outside of China and this is just growing and growing.
Ant is only six years old, a very young company,
and the most important thing to understand on how this company became so big, so successful
and the biggest FinTech in the world,
is because of its ecosystems.
We all know Alibaba, which Ant is part of,
Alibaba is the biggest ecosystem in China and probably the biggest in the world.
What that means is that they have lots of services in lots of industries,
we all know about the marketplaces like B2B or B2C
where you can sell or buy products on AliExpress, Taobao or Tmall
but there are also things like logistics
and they have basically the biggest logistic services in the world.
Then there are things like the clouds,
they have lots of lifestyle products where you can get a taxi or pay your utility bills.
What is so important is that whatever you do on the Alibaba ecosystem,
in the center is Ant Financial
because every transaction goes through Ant Financial.
Ant Financial,
which will be called Ant Group after the IPO,
has a complete horizontal offering of every financial service you could imagine.
This is the only FinTech in the world that has every offering in every single market,
whether it's for a credit, loan, asset management, wealth management, credit history or just digital payment,
whatever you need in the financial service,
they have it and cloud on top of it.
Now, the product that is centered to that is called Alipay
and you've probably seen all these Chinese in the shops in Europe, in Paris, or wherever use Alipay,
or WeChat Pay as a competitor.
So, we think that this is mainly a payment system
but all these financial services are in that super app
but on top of that it's also a communication system which means you can communicate
with friends and other people through that system,
There are millions of merchants,
so retailers on that same application that offer these Alipay services to consumers
and so it's very very wide.
You can't actually call it a final service product or application anymore,
it's a lifestyle product,
because when you take a taxi, book a train ticket or you pay your utility bills,
whatever you do,
you can do it with one application
and that ecosystem has made Ant so powerful.
Ant Financial from the beginning in 2014,
when they were established,
has focused on the small
and the small means consumers and SMEs.
What they're doing differently is that they're building this infrastructure,
Ant Financial is building the digital, financial infrastructure to enable all the banks
and all the retailers, merchants and consumers to use their infrastructure,
that is the power of the FinTech.
They're not actually called FinTech,
they're called TechFin, a technology company focusing on the financial service industry.
So it's the opposite
and that technology is what makes Ant,
and Alibaba in general,
the strongest in China and probably over time in the world
because they are what we call focused
and the experts I would almost dare to say in China are the number one in the ABC of the internet.
that's AI, Blockchain and Cloud computing.
This is really going to change the world because for the first time I believe a FinTech,
and we've been talking about FinTech for a long time,
is going to change and revolutionize the whole financial services industry in the world
because it's so easy to use and they have the backing,
the support and the infrastructure of the government to make it go global.

KEYWORDS

Pascal Coppens, China, innovation, trends, keynote, speaker, public speaker, Ant Group, Ant Financials, Alibaba, AI, Blockchain, Cloud, Alipay, China IPO


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