In addition, 128 of 143 fund management companies in China are now offering products and services on Alipay.
In 2017, Alipay launched Caifuhao, a corporate account service powered by AI on Alipay’s wealth management platform, which gives financial institutions access to a suite of AI capabilities and digital solutions, including better user connectivity, operational optimisation, and smart marketing. By launching a Caifuhao account on Alipay, fund managers can provide users with tailored investor education and wealth management products. Moreover, in May 2020, Alipay incorporated a livestreaming feature on Caifuhao to enable fund managers to better engage their mobile-savvy followers.
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