Ali financial network bank submission: including deposits, loans, etc

“the China business news” reporter learns exclusive, recently, ali financial formally submitted to financial regulators proposed ali Internet banking application. Related department has been heard ali financial report, and start working on the network bank.

“the network bank in China is still belongs to new things, to be completed from application to approval still has a long way.” To a person familiar with the matter said. If approved, ali is expected to become the first domestic network bank network bank.

it is understood that the proposed ali the network bank registered capital is 1 billion yuan, provide a small financial services, business scope involves the deposits, loans, remittance, etc.

people familiar with the matter, told reporters that the network bank is actually a virtual bank, compared with the traditional bank, the network bank is the biggest difference between ali no physical outlets, there is no branch of the organization, and extensive use of Internet technology to carry out the business.

“ali Internet banking application, will be one of the Internet financial an experiment is put forward, and related financial regulators have begun to study, support for the establishment of the network bank a prudential attitude.” People familiar with the matter said.