Chinese love fintechs
Chinese are particularly interested in digital solutions
A few days ago, the Chinese startup Ant Financial closed a round of financing, which will probably go down in the history books. The round of financing raised some $ 14 billion . The collected capital is a new best value for a round of financing. At the same time the rating of the startup increases to 150 billion dollars.
The establishment of Ant Financial was initiated by Alibaba, so that the entire control of the parent company is located. As part of the IPO, which was scheduled for 2019, a new record is to be achieved . Just four years ago, Alibaba succeeded in collecting around $ 25 billion from the initial listing.
Due to the recent round of financing, Ant Financial is now one of the largest fintech companies. But basically, the Chinese have an advantage in terms of market capitalization. In particular, the Money 20/20 conference demonstrated that Chinese fintechs are more popular than equivalents from other countries.
Chinese market with 600 million users
According to Li Wang, chief strategist of the Alipay payment service, Alibaba and Ant Financial are the world's largest fintech companies. In addition, the companies are on the way to becoming the largest online retailer, which can realize an annual growth of about 50 percent.
Alipay already has more than 870 million active users. Around 600 million of these users come from China . Particularly amazing is the adaptation of fintech offers by the Chinese consumers. While only 18 percent of Chinese used payment transfer and payment platforms in 2015, this share rose to around 50 percent last year. In addition, only 8 percent of Chinese used digital insurance services in 2015. Meanwhile, this share is around 24 percent and the trend is still rising.
The EY audit examined the perception of fintech services in 20 different countries. As part of this investigation, it became clear that around 69 percent of Chinese had at least two fintech services within the last six months. In second place was India with an adaptation rate of 52 percent. Slightly in third place is Great Britain with a share of 42 percent. Only 35 percent of Germans use the services of Fintechs.
Fintechs services are becoming increasingly popular
After all, Germany was among the first 10 countries in the study. In particular, the fact that German financial institutions have not yet been able to launch a successful digital project raises hope regarding the adoption rate of consumers. On the other hand, Japan is a particularly conservative country. Only 14 percent of the surveyed citizens said that they would use a service of a Fintechs . Even worse, only the Benelux countries completed with an adaptation rate of 13 percent. The study is based on the information provided by around 22,000 interviewees who were interviewed during an online interview.
The Chinese were able to secure first place in the survey. Although Chinese are particularly digital-affine, but not particularly wealthy. However, all users have something in common, because regardless of their country of origin, mobile payment systems, digital insurance companies, investment helpers, financial planners and loan counselors are in particular demand among customers . The United Kingdom and Australia in particular benefited from the strong growth.