TechCrunch believes a confluence of factors puts China at the fintech forefront: economic advancement, investor behavior, mobile, big data, financial industry liberalization, and regulatory acquiescence. According to Alipay's Vice President, China is a land where people will do anything to cut out the middleman, thus making fintech a natural fit.
At many traditional institutions, inertia dominates, slowing adoption. In a room of approximately 350 investment management professionals, one conference speaker asked, “Who has traded via roboadvisory?” Four people raised their hands. Erisman stressed urgency for traditional companies to embrace fintech: “This is something that can’t really wait. Because very soon it will move online with these e-commerce companies.”