Ant revamp spells lessons for S-E Asian fintechs
Crucial for fintechs and regulators in the region to engage early and address risks in cross-selling financial products, say industry observers
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THE forced restructuring of Ant Group emphasises the need for South-east Asian fintechs and regulators to engage early and address risks in cross-selling financial products, industry observers tell The Business Times.
On Monday, China's central bank announced that Ant Group will restructure as a financial holding company and sever the links between e-wallet AliPay and its other businesses. This came after China imposed a record fine of 18.2 billion yuan (S$3.7 billion) on Alibaba following an anti-monopoly investigation.
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