I am excited to hear the news that Alibaba's application for banking license may success.
Alibaba Commercial Bank of Zhejiang Province, which has received investment from Alibaba Group, has reportedly passed the inspections of the People's Bank of China (PBC), China's central bank, and the China Banking Regulatory Commission (CBRC), and will soon receive official notification to this end.
It is reported that Alibaba which has abundant transaction information for small and medium-sized enterprises doing business on the Internet, has unique advantages in providing financing support.
This news makes me exciting because it shows how the data and information collected through e-business can be transformed into valuable support for credit risk assessment in practice. It may also an example for solution to SME financing support.
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