Alibaba backed MYbank Launches in China To Serve “The Little Guys” Online


Tech News Value

Alibaba backed MYbank Launches in China To Serve The Little Guys Online

Latest Alibaba news is regarding the opening of MYbank. We all are aware of the massive e-commerce business that the company has in China and also the U.S IPO that was recording breaking and held by it last year. However, there is a lot more to the Hangzhou based Chinese company than only owning a e-commerce business. As of today, the latest edition is an online bank.

Backed by the e-commerce giant, MYbank is an online bank which had been opened yesterday with an aim to provide the services “for the little guys.” This bank service is an all-digital one. This suggests that there are no physical branches of the bank but still it would be open all the time. It is particulary for those who are ending up shore changed by what current norms are in the banking system. SMEs that are struggling to get themselves settled in the…

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