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China, the world‘s biggest FinTech market
Journal of Digital Banking,
2
(3),
249-258
(2018)
Abstract
China’s FinTech industry leads the world in total users, market size and now even investments. China has even got eight of the 27 current FinTech ‘unicorns’ – technology companies that investors value at more than US$1bn. The main key drivers to explain this FinTech success in China are technology, education, size of population, economic advancement, adoption of mobile technology, financial industry liberalisation and regulatory acquiescence. Another explanation is the ecosystem itself. Numerous players from various industries have indeed rushed to stake a claim in China’s Internet finance sector, with distinctive value propositions: the BAT giants, tech companies and traditional banks. Combining these three players, Chinese FinTech activity spans seven essential vertical markets: payments and e-wallets, supply chain and consumer finance, peer-to-peer (P2P) lending platforms, online funds, online insurance, personal finance management and online brokerage. In the coming years, China looks set to continue to dominate the global FinTech industry with a very strong domestic market and will also play an increasingly important role overseas in the global collaborations driving technological innovation.
Keywords: FinTech; China; BAT; e-wallet
The full article is available to subscribers to the journal.
Author's Biography
Yvon Moysan is a Lecturer in digital marketing, Academic Director of a Master degree in apprenticeship in digital marketing and Innovation, and a member of the Crédit Agricole Nord de France Digital Banking & Big Data Chair at IÉSEG School of Management. He is also the CEO of Saint Germain Consulting, a consulting company in digital marketing, focusing on the banking and insurance industries. He graduated from Harvard and ESSEC and has more than 15 years of professional experience in digital marketing (BNP PARIBAS, HSBC France, AXA worldwide headquarters, etc). He is also published in several practice-oriented journals such as Revue Banque, Banque et Stratégie and L’Argus de l’Assurance. He is also frequently interviewed and quoted in the press, such as in La Revue du Digital, Atlantico, Banque Hebdo, L’Agefi, etc. Furthermore, he is a public speaker, and he participated in several international academic and professional conferences, such as In Banque, EFMA, Mobile Shopping Europe, e Tail or Dialogkonferansen.
