Alibaba Forges Ahead with Bid to Transform Banking Industry
(Beijing) – When Jack Ma, founder and chairman of e-commerce giant Alibaba Group, vowed in 2008 to change the banking industry, the public was just beginning to understand his idea of a Net-based financial ecosystem.
Now the firm is offering small loans, securities investments and payment services. It has also ventured into insurance by co-founding a company to sell policies and settle claims online.
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