Chinese e-commerce giants Alibaba and Tencent are leading e-commerce market growth, seeking to do everything from cloud computing to digital payments; the Chinese market infrastructure is also helping their business growth and their business models are rivaling comparative US companies; Jack Ma's Alibaba is expanding rapidly in the global markets with partnerships and acquisitions and Tencent is following closely with numerous acquisitions as well; investment bank Goldman Sachs estimates China's online retail market to double in size by 2020 to $1.7 trillion and aggressive market expansion from Alibaba and Tencent appears to be successfully supporting that estimate. Source
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Fintech
In its discussion of how banks can become digital lenders, The Financial Brand provides the above chart; while mobile lending apps are only one aspect of a comprehensive digital lending platform, they are a core feature that customers rely on; the chart outlines the key features customers seek from mobile lending apps with the top features including the capability to lock in interest rates, calculate loan amounts and check an application status. Source
