FinTech in China and the extension of new organizational firm boundary
Zixia Sheng, CEO, New Hope Financial Services
Recent new technologies (Fintech and 5G) have had a profound impact on extending the boundaries of firms into more complicated financial ecology system. Nowadays in China, a typical traditional loan underwriting procedure within a bank has been fulfilled by different external parties (e.g. online portals, marketing agencies, data vendors, risk modelers, trusts, funds, invest bankers, debt collectors). How new technology could improve information sharing, reduce transaction costs/contractual costs and therefore change the entire landscape of firm organization and supply chain will be a critical extension to my introduction of Fintech in China.
About the Speaker:
Zixia Sheng received his M.Sc. in Decision Science from Carnegie Mellon University in 2006. The following year he started a position at Discover Financial Services. From 2012 to 2018 Sheng was the Director or Ant Financial’s AI Division and also the CRO of the organisation’s Banking Divison. Currently, Zixia Sheng is the CEO of New Hope Financial Services. His focuses on inclusive financial services and big data solutions for industrial and agricultural supply chains.