Eric Jing, CEO of Alipay-parent Ant Financial, backed the spread of financial technology to boost economies and improve lives in South East Asia’s developing markets at a conference of ministers from across the region.
According to reports from China’s official news service Xinhua, Jing said the financial revolution was just at the starting line and presented tremendous opportunities for developing economies.
His company has already signed partnerships with a number of mobile wallet providers in the region, and executives from Ant Financial have regularly voiced ambitions to increase the company’s influence in developing markets.
The executive was addressing finance ministers from member states of the Association of Southeast Asian Nations (ASEAN), which represents 10 markets in south east Asia. Constituent states of the organisation are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
Xinhua said the session was the first time a corporate representative has been asked to speak at the ASEAN Finance Ministers Retreat, highlighting the growing importance of financial services technology to these markets.Subscribe to our daily newsletter Back