MYbank
Description
MYbank, a leading online private commercial bank in China and an Ant Financial brand that focuses on SME (small and mid-size enterprise) financing. As one of the brands under Ant Financial Services Group, MYbank leverages Alipay’s AI, computing and risk management technologies to improve customer service and increase efficiency. MYbank’s efficient operating model enables it to reduce the costs for its partner financial institutions.
Overview
| Type: | Private |
| Foundation year: | 2015 |
| Location: | Hangzhou, Zhejiang, China |
| Founders: | Jack Ma |
| Website: | https://www.mybank.cn/ |
About Product/Service
| Regulators/Compliance | China Banking Insurance Regulatory Commission (CBIRC), which replaced the China Banking Regulatory Commission (CBRC) in April 2018 |
|---|---|
| The Base Currency | Yuan |
| Product cost | - |
|---|---|
| (a) a personal account | No |
| (b) a business account | Yes |
Key people
Funding rounds
Financials
| Customer/Products segments | Lending, Online Banking, Supply Chain Finance |
|---|---|
| Key product offering | SMEs Financing |
| Major shareholders | Ant Financial |
| Banking license | Yes |
| Type of customers | SMEs |
| Number of customers | Over 16 million small companies (as of 2019) |
Tech stack
Competitors
| Founding Date | Type | Tags | |
x Hufsy Hufsy offers a bank account customised for... | 2015 | Private | fintech, challenger banks |
x Fourthline We are a risk management and regulatory... | 2017 | Private | |
x Cashplus Cashplus is a leading digital challenger to UK... | 2005 | Private | Challenger banks, fintech |
x Neon (Brazil) Neon is a digital bank that offers credit cards,... | 2016 | Private | |
x Delo Bank Online bank for small enterprises | 2018 | Challenger banks, fintech |
Reviews
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