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Finance

Alibaba affiliates sweep top 3 spots in global fintech ranking

KPMG's new list spotlights the rise of Chinese financial technology

Ant Financial: The world's No. 1 fintech company according to KPMG   © Reuters

SINGAPORE -- Financial technology companies linked to China's Alibaba Group Holding took over the podium in KPMG's latest Fintech 100 list, announced on Wednesday.

Ant Financial, which runs Alibaba's massive Alipay e-payments network, took the No. 1 spot on the list, which was compiled with fintech accelerator H2 Ventures. Online property insurer ZhongAn Insurance and microloan provider Qudian placed second and third; both have received investments from Ant. 

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