Ant Group microcredit service Huabei feeds vast consumer data to China’s central bank

//Ant Group microcredit service Huabei feeds vast consumer data to China’s central bank

Ant Group microcredit service Huabei feeds vast consumer data to China’s central bank

Ant Group, operator of the world’s largest electronic payment platform, has started to feed its vast trove of consumer credit information to a database run by China’s central bank, heralding a new chapter in the regulatory oversight of the nation’s private financial technology companies.Consumer credit data gathered by Huabei, the small loans service under the Alipay platform, are now included in the financial credit information database of the People’s Bank of China (PBOC), according to a…

Article by [author-name] (c) Business - South China Morning Post - Read full story here.

By | 2021-09-22T12:00:15+00:00 September 22nd, 2021|Business|Comments Off on Ant Group microcredit service Huabei feeds vast consumer data to China’s central bank