China e-commerce giant JD.com and Thailand’s top retailer Central Group have jointly launched a new financial services app, partnering with the largest Thai lenders to capitalize on the nation’s digital banking opportunity.
The «Dolfin» app will include an e-wallet, digital lending platform, insurance and wealth management capabilities, according to a statement from the joint-venture, Central JD Fintech. A merchant version will be rolled out next year to target small businesses and Central’s mall tenants with merchant data to be used to further support bank lending.
Major Thai lenders, Siam Commercial Bank, Kasikornbank and Bangkok Bank are currently partners with Bank of Ayudhya expected to join later.
Central JD Fintech aims to reach 400,000 Dolfin users by year-end and 1.5 million next year.
