On Wednesday, Ant Financial Services, a privately held company controlled by Alibaba’s founder, Jack Ma, announced the introduction of Sesame Credit Management, a credit-scoring business that is to rely primarily on online data.
Ant Financial is betting it can provide better financial information that will ultimately make credit more readily available to millions of consumers across China, benefiting not only consumers seeking loans, but also landlords screening potential tenants, the lovelorn sizing up suitors and employers evaluating job candidates.
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