BY YUAN QI/ANT FINANCIAL, JING XIAO/PING AN
TECHNOLOGY (SHENZHEN) CO., LTD.
FINANCIAL TECHNOLOGY, ALSO known as fintech, is
a fast-evolving field that has reshaped the financial
industry. Ant Financial has redefined digital financial
services, specifically mobile payment and microloan
services, and Ping An Technology has developed
innovative fintech to reshape the insurance, investment, and banking businesses.
Computing technologies play an
important role in the transformation of modern financial services.
Ant Financial, an affiliate of Alibaba
and a leading Chinese fintech com-
pany, has participated in this trans-
formation by using technology to
bring financial services to hundreds
of millions of individuals and small
businesses in China and throughout
the world. Two examples demon-
strate its impact.
Ci Ren Ge Dan (Figure 1) runs a
tent store at the foot of Mount Everest, 5,200 meters above sea level. He
used to take half a day to go to the
nearest bank. Carrying and keeping
a lot of cash was inconvenient. Now
he is one of many small merchants