The 2020 CB Insights China Fintech 50 List (the “List”) has been released during the Future of Fintech China, a summit of China’s major financial institutions, promising fintech startups and active venture investors organized by CB Insights, a respected international market intelligence platform.

Based on the DPTC (Depth, Popularity, Tendency, Collaboration) evaluation system, CB Insights completed a comprehensive evaluation of Fintech platforms’ competitive strengths, market popularity, developing momentum and partnerships. Fifty Chinese fintech companies, such as Ant Financial Group, Tencent Financial Technology, and Baidu Duxiaoman Finance, were on the list.

CB Insights China data shows that since 2013, the scale of China’s fintech revenue has been rising. In 2018 and 2019, the scale of China’s fintech revenue was 9698.8 billion and 14.365 billion yuan, respectively, and it is expected to rise to nearly 2 trillion yuan in 2020. . In terms of scale, China’s fintech industry has taken a leading position in the world.

CB Insights China stated that the financial industry has fully entered the era of fintech and is developing towards networking, data, mobility, and intelligence. The deep integration of technology and the financial industry has gradually blurred the financial boundary. Regarding the connotation of financial technology, CB Insights China believes that it mainly includes three aspects: one is new technological means, the other is a new business model, and the third is a new financial intermediary service organization.

Among the fintech companies listed on this list, Duxiaoman Finance is based on the advantages of Baidu artificial intelligence. Since its inception, it has been focusing on risk management for the layout of gold technology capabilities, including credit risk management, operational risk management and macro risk warning . Du Xiaoman Financial, formerly known as Baidu Finance, launched its new brand “Du Xiaoman Financial” in May 2018.

According to relevant data, under the stimulation of the epidemic, Duxiaoman’s fintech business is rapidly erupting. From December last year to May this year, Panshi’s query call volume increased by 50%, and the growth is still continuing. It is expected to grow by December this year Will reach 200%. Panshi is the main export of Du Xiaoman Financial’s ability to provide risk control to the outside world, providing a series of services such as identity recognition, anti-fraud, credit evaluation, risk monitoring, and post-loan collection for financial institutions such as banks. Du Xiaoman Financial also expects that the fintech revenue will increase more than three times in 2020.

The data disclosed by Ant Group also shows that as of the end of April this year, the number of customers using Alipay mobile banking technology products and cloud computing capabilities increased by 175%, and the number of consultations to negotiate cooperation increased by 400%.

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Source: CNEO news