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High hopes for Alibaba-backed fintech

Payments firm Ascend Money is looking to tap the unbanked market and create a credit-rating scheme in South-east Asia.

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"Some fintech companies think with a catch-me-if-you-can mentality . . . That's not quite right. Our principle is to treat your central bank as your partner." - Ascend Money chief executive Punnamas Vichitkulwongsa

A SOUTH-EAST Asian financial technology (fintech) firm backed by Chinese giant Alibaba and Thai conglomerate CP Group is looking to tap the significantly unbanked market in the region. In doing so, Ascend Money also hopes to, in time, create a credit-rating scheme that takes in scoring based on

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