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

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x Contis Contis is your trusted partner for alternative...	2008	Private	Challenger banks, fintech
x Dave Dave is a leading US challenger bank on a mission...	2016	Private	challenger banks, fintech