WeBank’s chief information officer Henry Ma tells the Financial Times that its business model does not seek to disintermediate banks. The loans the Tencent subsidiary makes to SMEs benefit from its Big Data credit scoring skills but it takes just 20% and syndicates the rest to local banks. “We partner with banks that otherwise would not be able to access these borrowers,” says Ma.
© ChinTell Ltd. All rights reserved.
Sponsored by HSBC.
The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.