The Rise of FinTech in China Redefining Financial Services

A collaborative report from EY and DBS Bank shares lessons to be learned from the rise of FinTech in China.

With high levels of internet and mobile penetration, China is already the world’s largest and most developed retail e-commerce market, accounting for 47% of global digital retail sales – the result of a massive domestic retail market in a closed digital economy.

Now, these digitally savvy Chinese consumers, who have few reservations about sharing personal information, are ready to embrace FinTech offerings, creating opportunities for FinTech firms and incumbents willing to take on digital transformation.