MYBANK
8.10.2019 08:37:04 CEST | Business Wire | Press release
MYbank, a leading online private commercial bank in China and an Ant Financial brand that focuses on SME (small and mid-size enterprise) financing, was yesterday named a PLATINUM winner of the Global SME Bank of the Year award category at the Global SME Finance Forum Awards for leveraging innovative digital technology to make finance accessible for tens of millions of SMEs.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191007005902/en/
In 2015, MYbank pioneered the “310 model” for SMEs, which has enabled financial institutions in China to leverage proprietary risk management technologies so they can provide collateral-free business loans to SMEs. Not only has it enabled access to capital for SMEs, but they can apply for a loan simply by using their mobile phone, highlighting the ease and convenience of the model. Furthermore, as the name suggests, 3-1-0 lending enables borrowers to complete their online loan applications in three minutes, obtain approval in one second and with zero human intervention.
“We are very pleased to receive the recognition from IFC and the SME Finance Forum,” commented Simon HU, Chairman of MYbank, “In the age of the digital economy, digital finance can and should be used for the good of society. Our vision is to leverage digital technology and enable our financial partners to use the ‘310’ model to empower traditional unbanked and underbanked SMEs such as roadside vendors, mom-and-pop stores, and small business operators who contribute significantly to job creation and the growth of the real economy.”
On June 21, 2018, MYbank announced Star Plan which aimed to use technology to enable 1,000 financial institution partners to provide more cost-effective financing services to 30 million SMEs in China within a three-year period. As of September 2019, the 310 model has enabled MYbank and its over 400 financial institution partners to serve at least 20 million SMEs. Leveraging proprietary risk management technologies, MYbank helps keep the non-performing loan (NPL) ratio for the SME business loans offered through the 310 model at around 1%. As of June 2019, the size of each loan provided by MYbank was around RMB 10,000 (USD 1,400), reflecting the specific needs of SMEs, many of whom are roadside vendors, mom-and-pop shops and individual business operators with no more than five employees.
Simon HU added, “As the Star Plan progresses, we look forward to increasing the inclusivity of financial services for SMEs by sharing our technologies with more financial institution partners in China and beyond.”
Organized by IFC, a member of the World Bank Group, and the SME Finance Forum and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to their SME clients.
Matthew Gamser, CEO of the SME Finance Forum said: “We hope the winners of the Global SME Finance Awards will inspire SME financiers all over the world to learn from their good practices. The Awards provide the winners an opportunity to showcase good practices on the global stage and foster learning amongst their peers.”
This year’s award winners were selected from a competitive pool of 144 applicants. A panel of independent judges chose the winners based on their Reach, Uniqueness and Innovation, Effectiveness and Impact, and Dynamism and Scalability.
About the SME Finance Forum
The SME Finance Forum works to expand access to finance for small and medium businesses. The Forum operates a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. Established in 2012 by the G20 Global Partnership for Financial Inclusion, the SME Finance Forum is managed by IFC. For more information, visit http://www.smefinanceforum.org
About MYbank
With a focus on serving SMEs and farmers, MYbank was established on June 25th, 2015 and was among the first batch of pilot private commercial banks in China. It was also the first bank in China to establish its core banking system entirely on the cloud without any physical branches. As one of the brands under Ant Financial Services Group, MYbank leverages Alipay’s AI, computing and risk management technologies to improve customer service and increase efficiency. MYbank’s efficient operating model enables its partner financial institutions to reduce costs.
Using a comprehensive AI-powered risk management system, which comprises of over 100 predicative models, 3,000 risk profiles and more than 100,000 metrics, MYbank calculates an appropriate line of credit for SMEs that minimizes the risk of excessive lending. As a result, the non-performing loan (NPL) ratio for MYbank’s SME business loans has consistently been at around 1%. As of end of 2018, the average NPL for SME loans in China was 3.16%, according to the People’s Bank of China .
For more details of the Star Plan, please refer to our official website: MYbank launches Star Plan to support 1,000 financial institutions to serve 30 million SMEs in the next three years
View source version on businesswire.com: https://www.businesswire.com/news/home/20191007005902/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Rapid Medical™’s DISTALS Trial Overwhelmingly Positive, Demonstrating Superior Reperfusion with TIGERTRIEVER™ 13 in Medium Vessel Stroke6.2.2026 20:30:00 CET | Press release
TIGERTRIEVER™ 13 is the first device shown to meet safety and effectiveness endpoints for restoring blood flow in smaller but critical areas of the brain, accounting for almost 50% of all ischemic strokes Rapid Medical™, a leading developer of active endovascular devices, today announced late-breaking results from the DISTALS multicenter, randomized controlled trial showing that TIGERTRIEVER™ 13 achieved superior brain tissue reperfusion with an excellent safety profile when compared with medical management in medium vessel occlusion (MVO) stroke. The findings were presented in the main closing session at the 2026 International Stroke Conference (ISC). Top-line results showed that the TIGERTRIEVER™ 13 arm demonstrated 3x more successful reperfusion without symptomatic intracranial hemorrhage (sICH) compared to medical management–86.3% vs 27.7% (p < 0.001). Notably, zero sICH events were reported in the randomized treatment arm treated with TIGERTRIEVER 13. By comparison, sICH rates rep
Al Barari Breaks Ground on The Cape, The Final Chapter of a Legacy6.2.2026 15:46:00 CET | Press release
Al Barari, Dubai’s pioneering nature-led community, has officially marked the groundbreaking of The Cape, its final signature residential development, celebrating two decades of visionary craftsmanship and a continued commitment to creating harmonious living environments rooted in nature. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260206475199/en/ Hazza Zaal, CEO of Al Barari Real Estate Group, alongside the Sales and Construction teams at The Cape Groundbreaking Ceremony, marking a milestone in Al Barari’s final signature development. (Photo: AETOSWire) The milestone ceremony signals the beginning of a landmark chapter for Al Barari, as The Cape represents the culmination of a 20-year legacy defined by intentional design, wellbeing-focused living, and immersive natural landscapes. Located within Dubai’s green heart, The Cape introduces an enriched lifestyle experience surrounded by lush botanical settings, gentle water
Andersen Consulting indgår samarbejdsaftale med Alfa Group6.2.2026 15:41:00 CET | Pressemeddelelse
Andersen Consulting styrker sit udbud inden for cybersikkerhed gennem samarbejdet med Alfa Group, der er en førende teknologivirksomhed med næsten tre årtiers erfaring i at hjælpe organisationer med at beskytte og optimere deres drift. Alfa Group blev grundlagt i 1996 og har hovedsæde i Rom. Virksomheden leverer avancerede løsninger inden for cybersikkerhed, registrering og forebyggelse af svindel, hændelseshåndtering og sårbarhedsstyring samt udvalgte ydelser inden for processtyring. Deres proprietære teknologi, N.O.V.A., er en fuldt integreret administreret tjeneste, der kombinerer Alfa Groups innovationer med tredjepartssystemer for at beskytte digitale infrastrukturer, reducere risici og øge den operationelle effektivitet. Virksomheden betjener kunder på tværs af brancher, herunder finans og forsikring, forsvar og rumfart, telekommunikation, fremstilling, energi og medicinalindustrien. "Vores samarbejde med Andersen Consulting giver os mulighed for at udvide vores rækkevidde og lev
Quantfury and Sandwich Launch Commercial Series to Encourage Better Choices in Retail Trading6.2.2026 15:00:00 CET | Press release
Quantfury Trading Americas Limited (“Quantfury”), a global brokerage offering commission-free trading at real-time spot prices from major exchanges, has partnered with Sandwich, a leading creative agency for tech and product videos, to produce a Social Responsibility Commercial Series. The series of commercials incorporates clear, engaging storytelling to prompt viewers to think about common retail trading behaviors—especially high-energy marketing, gamification of speculation, and heavy focus on potential gains without equal attention to risks—and to choose more thoughtful, informed approaches. Lev Mazur, Founder of Quantfury, said: “It’s a pleasure to work with Sandwich, whose visual storytelling is outstanding. Since day one, Quantfury has aimed to question and improve the standard practices in the global retail trading industry.” Adam Lisagor, Founder of Sandwich, added: “A good investment is a story. Quantfury stood out by wanting to tell a real, interesting story first—rather tha
JSS: 2025 Sake Exports Grew Steadily, Reaching a Record 81 Markets6.2.2026 04:00:00 CET | Press release
Sake exports continued to expand in 2025 in both value and volume, with export destinations reaching a record 81 countries and regions. Export value increased 6% year on year to 45.9 billion yen, while export volume rose 8% to 33.55 million liters (3.73 million cases on a 9-liter basis), marking the second-highest export performance on record. The average export unit price per 750 ml bottle declined 2% year on year to 1,026 yen. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260205671686/en/ Sake Export Performance by Country (Top 10, 2025) Export value has nearly doubled since 2020, and the CAGR over the past five years reached 14%. This underscores sake’s position as a high-growth category globally. Asia remained the largest export destination, with export value totaling 28.8 billion yen, representing an 8% increase year on year and accounting for 63% of total export value. North America recorded exports of 12.4 billion ye
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom