PYMNTS.com chronicles the rise of Ant Financial from a small online lender to Chinese SMBs (Alipay) to a global interoperable financial services network that is well positioned, following its SouthEast Asia and Indian fintech investments and acquisitions, to rival the largest multinational players such as Mastercard, Visa, and Paypal. From the mouth of CEO Erin Jing, Ant is building an open ecosystem to provide financial services to over two billion users in 10 years.
The most memorable thing that came out of the 1959 movie, A Hole in the Head, was its 1960 Oscar-winning song, “High Hopes,” sung by Frank Sinatra. If the song title doesn’t ring a bell — after all, it was 1960 — perhaps its lyrics might: “Just what makes that little old ant, Think he’ll move that rubber tree plant. Anyone knows an ant can’t Move that rubber tree plant. But he’s got high hopes, He’s got high hopes, High apple-pie-in-the-sky hopes.” The song was intended as a metaphor for the many conflicts facing the film’s protagonist (played by Frank Sinatra) and his determination at the end of the movie to overcome them.