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Dec

17

China’s $189 Billion Giant of Finance Reveals a Huge Bet on Tech

By Tony Seruga

Ping An wants to get half its earnings from technology
Shares have jumped 99% in 2017; CFO says they’re undervalued

These days, every big finance company worth its salt is finding ways to boost its bottom line with technology. Few are going quite as far as Ping An Insurance (Group) Co.

Over the past decade, the Chinese behemoth has invested billions in technology to make its insurance, lending and asset management businesses more competitive. In recent years, it started selling that tech — everything from online banking platforms to facial recognition systems — to other financial firms in China and around the world…

China’s $189 Billion Giant of Finance Reveals a Huge Bet on Tech

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