Banking in the Age of Social Media

I happened to be in Guangzhou last week, and attending an interesting round table discussion during a banking technology event. One of the guests was from WeBank, sharing his experience working in a technology company that happens to hold a banking license in China. He shared the fact that they started as a technology company even before they had the license, developing a banking platform that is now used by 8 local banks in China in a BaaS (Banking as a Service) model.