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Alibaba debuts mobile fund platform in new fintech push

Chinese e-commerce giant Alibaba has launched its mobile wealth management app, which will distribute nearly 900 mutual funds. It comes just days after rival Tencent announced its own WeBank app launch.
Alibaba debuts mobile fund platform in new fintech push
Chinese e-commerce giant Alibaba has made a fresh push into the financial technology (fintech) world with the launch of its mobile wealth management platform. Alibaba’s financial services arm Ant Financial has debuted the app in an attempt to provide an easier route into mainland China’s fund products for the average investor. It comes just days after major technology rival Tencent launched its own fund sales platform through its new private internet bank's mobile app. Ant Fin…
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