At the two-year birthday celebrations of Alibaba’s affiliate Ant Financial on Sunday, Eric Jing officially took over the position from Lucy Peng as the new CEO of Ant Financial.
Jing introduced three strategies that Ant Financial will focus on in the near future.
Serving two billion customers globally
Two billion customers: that is the customer base that Jing envisions Ant Financial serving over the next 10 years. This goal is to be achieved with the help of partners, with whom the technologies and experience of Ant Financial is to be shared.
Jing said that, with a global vision and global talent, they’ll reach out into the world in search of partners, and help these partners become the Ant Financial of their own respective locales.
Becoming the CFO for two million micro-sized businesses
Back in 2004, to complete its vision of e-commerce, Alibaba introduced the online payment service provider, Alipay. According to Jing, they have been using big data since 2010 to help nearly five million small and micro businesses with their financing.
“Micro businesses need more than financing. They have needs in financial management, cross-boarder transfers, foreign currency services, and more,” said Jing. “We will work to become the CFO for two million micro businesses in the next 10 years.”
Building on the credit system
Alibaba’s big data has incubated a credit system that is applicable to not only Alibaba and Ant Financial, but also to society at large – effectively, it reduces the cost of risk management.
They will continue to build upon the system, and open it up to a wide array of applications.
Ant Financial secured USD 4.5 billion in its Series B financing in April, pushing its valuation up to USD 60 billion.