Ping An Insurance Group is China’s largest insurer and one of its biggest financial conglomerates; the company has become a...
Ping An pushes into Indonesia’s fintech space In strategic shift, TIAA to close dozens of mortgage offices Orca launches industry-wide...
In 2015 China’s Central Bank contracted eight companies, including affiliates of Tencent, Ping An and Alibaba, to help build a...
10x Future Technologies will soon announce a new funding round of over $40mn from China's Ping An and global consulting firm Oliver Wyman; the funds, according to Banking Technology, will help to speed up technology development and expand the company into Asia. Source.
Shanghai-based marketplace lender, Lufax, has announced it will be expanding its business into Hong Kong and Singapore; firm also announced plans in September for a Hong Kong-listed IPO which is expected to raise approximately $5 billion; company will leverage its relationship with Ping An for the expansion; funding for the expansion will also be supported by a $1.2 billion fundraise from earlier in the year. Source
Hong Kong has approved 4 more digital banking licenses for Tencent, Alibaba, Xiaomi and Ping An; the approvals are sure...
China’s government has tried for many years to establish a credit system that rivals the U.S. and Europe, but has...
Not only has Ping An been investing in technology but has also started selling technology in areas of online banking, facial recognition, asset management and more; according to Deputy Chief Executive Officer Jessica Tan in an interview with Bloomberg the company wants to get half their earnings from technology; while competition from Tencent and Alibaba is stiff the company believes the combination of data and offline resources can give their products an edge; after seeing presentations in recent months analysts have started raising price targets on the company. Source.
Ping An is investing 7.77 billion yuan ($1.16 billion) in technology research and development this year with artificial intelligence as the focus; the firm's Ping An Technology division is supporting the efforts; the group has been focusing on solutions for finance and healthcare with plans to expand to other industries; the company's goals are also in line with a government initiative announced by China's State Council; current efforts for Ping An have been centered around recognition software for identity and claims management. Source