JD.Com and Thai Retailer Launch Financial App
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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.
Questions & Answers
Q.What services will the new Dolfin app offer to its users?
What services will the new Dolfin app offer to its users?
The Dolfin app will provide an e-wallet, a digital lending platform, insurance, and wealth management capabilities. These services are outlined in the statement from the joint-venture, Central JD Fintech.
Q.Which financial institutions are partnering with Central JD Fintech on this app?
Which financial institutions are partnering with Central JD Fintech on this app?
Siam Commercial Bank, Kasikornbank, and Bangkok Bank are currently partners. Bank of Ayudhya is also expected to join them at a later date, expanding the network of participating lenders.
Q.What is the primary target for the Dolfin app's initial rollout?
What is the primary target for the Dolfin app's initial rollout?
The initial rollout of the Dolfin app aims to attract individual users, with a goal of reaching 400,000 Dolfin users by the end of the year. A merchant version will follow next year.
Q.What are the projected user targets for the Dolfin app?
What are the projected user targets for the Dolfin app?
Central JD Fintech aims to have 400,000 Dolfin users by the end of the current year. Their target for the following year is to increase this to 1.5 million users.
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