KPMG Releases Annual Selection of China’s Top Fintech Companies
On January 18, 2021, a well-known Consultancy firm-KPMG, during a conference tagged,” 2020 KPMG China 50 Leading Fintech List and Report Conference” released its yearly selection of China top 50 FinTech companies. This year’s event featured 100 companies to showcase the sector’s fast-changing landscape and growth.
The 2020 China top 50 Fintech report, considered both private and public companies, including the banking incumbents’ affiliates and independent FinTechs. Notably among the leading banking incumbents’ affiliates include One Connect, WeLab, Airwallex, JD Digits and WeBank. Hong Kong Virtual Asset Exchange Limited- HKD.com topped the list and most of the China’s top 50 FinTech companies are based in Shanghai, Beijing and Shenzhen.
The report did not only name China’s most promising FinTechs, but also outlines major trends observed in the industry in the year, 2020. Some of the trends include: the rapid integration of technology into every segment of the financial systems and the increasing convergence of FinTech industry with other sectors. The report also highlighted the increasing risks associated with the rapid adoption of technology, which must be addressed.
Since the COVID-19 outbreak, the demands for contactless financial services is on the rise, says the report. The financial institutions are now recognizing FinTech as a sector, very indispensable to their sustainable development and business transformation.
The Fintech top 50 companies in this year’s events, deploy technologies such as artificial intelligence (AI), blockchain, cloud computing and machine learning (ML) to operate. They are deployed in use cases revolving around wealth management, investing, lending, supply chain finance and many more.
The full list of the 2020 China’s Fintech top 50 companies include: AFA Finance, Aibao Technology, AiBank, Bairong Yunchuang Technology, Baozhunniu, Bubi, Che300, DataGrand, IceKredit, TerraQuanta, Daokou Fintech, Du Xiaoman Financial, Webull, Futu, Gaodeng Technology, ICBC Technology, Everbright Cloud Payment Technology, HKbitEX, Hong Kong Virtual Asset Exchange (HKVAX), Hundsun Technologies, Aqumon, Tigerobo, TsingJiao, ArchForce Financial Technology, Huifu, WeLab, Ahi Fintech, Huize, Shanghai Jiyu Fund Sales, Valuable Capital, Value Online, CCB Fintech, Kingdee Finance, Jinfuzi, OneConnect, Kingsoft Cloud, Kingstar Fintech, Kingsware, JD Digits and Kafang.
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