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/ComplianceChina Banking Insurance Regulatory Commission (CBIRC), which replaced the China Banking Regulatory Commission (CBRC) in April 2018
The Base CurrencyYuan
 
Product cost-
(a) a personal accountNo
(b) a business accountYes

Key people

Funding rounds

Financials

Customer/Products segments Lending, Online Banking, Supply Chain Finance
Key product offeringSMEs Financing
Major shareholdersAnt Financial
Banking licenseYes
Type of customersSMEs
Number of customersOver 16 million small companies (as of 2019)

Tech stack

Competitors

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