Online micro financial banking platform MYbank will officially launch on June 25
24 June 2015, 06:11
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Ant Financial Services Group, micro financial services
company under Alibaba Group's Alipay, will officially launch their
online banking platform MYbank on June 25, 2015.
MYbank is also known as Zhejiang Online Business Bank and is one of the first five trial private banks approved by China Banking Regulatory Commission on March 11, 2014. This bank later gained construction approval on September 29, 2014.
MYbank previously announced its remote account opening with face recognition technology; however, this service did not gain approval from regulatory authorities due to security risk concerns. Commenting on this issue, Alibaba said that they are still communicating with the regulatory authorities regarding the service.
MYbank is also known as Zhejiang Online Business Bank and is one of the first five trial private banks approved by China Banking Regulatory Commission on March 11, 2014. This bank later gained construction approval on September 29, 2014.
MYbank previously announced its remote account opening with face recognition technology; however, this service did not gain approval from regulatory authorities due to security risk concerns. Commenting on this issue, Alibaba said that they are still communicating with the regulatory authorities regarding the service.
