Ant Group has begun telling customers whether they’re borrowing from the company or from an outside lender, as founder Jack Ma continues his attempts to follow Chinese regulations, according to a Wall Street Journal (WSJ) report Wednesday (Nov. 24).
Ant has been trying to revamp its business since Chinese regulators curtailed its would-be blockbuster initial public offering (IPO) last year, fearing that the company was growing too powerful in its wide influence. WSJ cites Ant’s consumer credit services as a substantial reason for that.