Ant Group Company Overview
The Ant Group develops open platforms for technology-driven financial services. SME international trade platform, Trusple is a digital platform powered by AntChain, the Ant Group’s blockchain technology. Trade marketplaces, international banks, and logistics and supply chain service providers helped build it. Alipay, China’s largest digital payment platform, is a company that wants to make it easier and cheaper for everyone to sell their products and services to customers worldwide, especially small-to-medium enterprises (SMEs). Financial institutions can help more SMEs by cutting costs.
Antchain-powered Trusple is looking to open and streamline international trade. International banks and financial institutions can offer safer, more inclusive financial services by analyzing blockchain trade data. The Trusple platform aims to make trade easier and more secure by digitizing the entire process and partnering with international banks. This will give buyers and sellers confidence in trade and access to financing. The platform also builds an open digital trade finance system with ecosystem partners.
Key Executives of Ant Group
Eric Xiandong JING, President and CEO
Ant Group’s Chairman and CEO, Eric Jing, runs the company. He became Ant Group president in June 2015. Eric became Ant Group CEO in October 2016 and Chairman in April 2018.
Xiaofeng Shao, EVP
Xiaofeng Shao, Vice President of Ant Group, was in Alibaba in March 2005. Mr Shao has served as head of Alibaba Group’s network security, vice president of Taobao, general manager of Alibaba.com’s China business unit, chairman of Alibaba Pictures, chief risk officer, secretary general, and risk committee chairman.
Xingjun NI, Chief Technology Officer
Mr Ni has been executive director and CTO since July and August 2020, respectively. Alipay China hired Ni in December 2004. He helped build Alipay’s framework with other core members. He made the early Alipay versions.
Cyril Xinyi Han, Chief Financial Officer
The Chief Financial Officer is Mr Han. In September 2011, Mr Han became Alibaba’s corporate finance senior director. Since joining the company in May 2014, Mr Han has been the company’s senior director and vice president.
Ant Group- Products & Services
The key to trusting Ant Group is its use of smart contracts. With smart contracts, buyers and sellers can upload their trading orders. Once the order is carried out, the intelligent agreement will be updated with information, like order placements, tax refund options and logistics. This will help ensure that buyers’ and sellers’ payments are settled smoothly and quickly using AntChain.
The Trusple process makes it easier and faster for banks to track and verify orders and ensure that information is not changed. Trusple transactions help SMEs build creditworthiness on AntChain, making it easier for them to access financial services. AntChain’s key technologies, such as artificial intelligence (AI), the Internet of Things (IoT), and secure computation, are used to help people trust each other.
Order Management
The platform’s order management system is designed to be simple. Any changes will be easy to find and write down. Customers can also keep track of every step of every transaction they make, so they can feel confident going straight to suppliers, even if it’s their first trade transaction.
Open Trade Ecosystem
An open trade ecosystem connects trade value chain participants and increases business opportunities for small and medium-sized businesses. Trusple’s advanced features, data security, and access control ensure that the ecosystem is valuable to all participants.
Digital Finance & Trade
The digital way to finance and trade is by providing sellers with credit information. This allows for “chain credits” and competitive financing.
Personalized Financial Services
Ant Group works with financial institutions to help improve their risk management and underwriting models. This allows them to provide more personalized services that meet the specific needs of their customers.
Faster Trading
With the help of blockchain technology and automated processes, trades can be completed more quickly and effectively. Clients don’t have to do complicated paperwork — the platform takes care of everything. As a result, everyone involved in the trade can save time and money.
Safety Practices
Safer working practices are important in any industry, and Trusple’s world-class risk management system ensures that client data and transactions are kept secure.
Also Read: Boosting SME Trade with Ant Groups Blockchain Platform
Related News
- Ant Group receives carbon-linked credit line from BNP Paribas, 16 May, 2022
Ant Group, a Chinese company, will receive a carbon-linked credit from BNP Paribas. The credit will be for the company’s sustainability efforts, verified by a blockchain-based carbon management platform. BNP Paribas will give Ant Group revolving credit lines with a “two-way interest rate adjustment mechanism” tied to several of the company’s SPTs under the deal (Sustainability Performance Targets). - Asian Bank DBS Transacts on AntChain’s Trade Financing Platform, 15 March, 2021
DBS became the first Asian bank to close a trade financing transaction worth more than US$44,000 on AntChain’s Trusple platform. The deal was also closed by iQuartz, a Singapore SME that shapes and sells quartz stones to US and Singapore customers. Trusple gives iQuartz more control over the supply chain and makes it more transparent.
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