With Asia’s huge population — a high percentage of which are unbanked — and a rising middle class, it’s no surprise that Asia has risen as the centre of financial innovation. This is particularly true in China, where fintech ecosystems have been scaling and innovating much faster than the West.
A few statistics to consider:
In 2018, almost half of the value of global fintech deals came from China. Four of the world’s ten largest fintech companies are Chinese.
With rising household incomes combined with an economy pivoting toward a consumption-driven one, it’s little surprise that China has emerged at the forefront of the Asian fintech space — an ongoing trend that is likely to continue in 2020.
LU Global is itself a product of such innovation, and we continue to strive toward our goal of enhancing the traditional wealth management model with technology and passing the savings back to consumers. No longer do investors have to be shackled by high minimum investment amounts and long lock-in periods.
Enjoy greater liquidity and flexibility through MarketPlace — a secondary market within the app that’s just been launched, enabling LU Global customers to trade selected fixed-term investments among each other.
Nor do our users have to contend themselves with generic wealth management offerings. Instead, they get to invest in the very same products that institutional and high-net-worth investors do.