Go to the ANT, you sluggard; consider its ways and be wise
13 February 2022
Nothing illustrates the impact of exponential improvements in technology on the financial services sector than a head-to-head comparison of Bank of America and Ant Group. The former is a US banking heavyweight with around 67 million customers, mostly onboarded after the then 94-year-old business was acquired by NationsBank of Charlotte in 1998. Ant Group, meanwhile, is rooted in China. It is an affiliate of the Alibaba Group, which holds a host of financial services brands, including Alipay, with has gained more than a billion active users in around 19 years.