en.wikipedia.org/wiki/Ant_Group
3 corrections found
In September 2018, the company launched the Ant Group Technology brand for all of its technology products and services.
The 2018 brand name is wrong. Ant Financial announced the launch of “Ant Financial Technology,” not “Ant Group Technology.”
Full reasoning
A September 20, 2018 Business Wire press release states that Ant Financial launched a technology brand called "Ant Financial Technology." The announcement repeatedly uses that name and says the company would offer its technology products and services under that brand.
I could not find an official 2018 launch announcement for a brand called "Ant Group Technology." That wording appears to be a mistaken substitution of the later corporate name Ant Group for the brand name that was actually announced in 2018.
1 source
- Ant Financial Launches Ant Financial Technology Brand with Full Suite of Technology Products and Services to Support Growth of Financial Institutions
Ant Financial Services Group ... announced that the Company would open up a full suite of technology products and services under a new brand, Ant Financial Technology.
MYbank – a private cloud-based online bank that is also one of six state-banked financial institutions to operate the digital yuan in China.
This description contradicts itself. MYbank is a private bank, not a state-owned bank, and Shanghai’s official digital-yuan materials list it separately from the six major state-owned banks.
Full reasoning
MYbank's own "About Us" page says Zhejiang E-Commerce Bank (MYbank) is one of China's pilot private banks. That alone conflicts with the article's claim that it is one of six state-banked institutions.
Shanghai's official 2021 digital-yuan trial notice is even more explicit: it says the trial was supported by seven banks — six major state-owned banks plus Zhejiang E-Commerce Bank (MYbank), which it describes as "an online-only private bank."
So MYbank was not one of the six state-owned banks; it was an additional private-bank participant.
2 sources
- MYbank About Us
Zhejiang E-Commerce Bank Co., Ltd. is one of China’s first pilot private banks, and officially opened on June 25, 2015.
- Shanghai China: 350,000 digital gift packets to be given away
The seven banks are six major state-owned banks ... as well as Zhejiang E-Commerce Bank, or MYbank, an online-only private bank under the country's tech giant Alibaba Group.
In 2023, Ant Group launched Golden Choice Investment Consultants, an investment advisory service in partnership with six financial institutions, enhancing its service offerings and leveraging its technological capabilities in financial advisory.
The launch year is wrong. Caixin reported the service was launched on January 4, 2022, not in 2023.
Full reasoning
Caixin reported on January 14, 2022 that Ant Group had been ordered to remove the service from Alipay a week after it launched, and specifically said the "golden selection investment advisor" service was "Launched on Jan. 4."
That places the launch in 2022, not 2023. The article elsewhere also describes the same product as launching in January 2022, so this later sentence appears to misstate the year.
2 sources
- Ant Group Ordered to Remove New Fund Investment Advisory Service
Launched on Jan. 4, the service known as 'golden selection investment advisor' (金选投顾) offered a list of fund portfolios that were recommended by Ant Group and its six financial institution partners.
- Ant Fortune's investment vehicles taken offline mere days after launch
The series of financial products, named 'Golden Choice Investment Consultants,' was launched by Ant Group in partnership with six financial institutions.