Ant to Differentiate Consumer Loan Brand in Latest Overhaul Step

Consumer credit has been crucial in driving growth at Ant’s digital finance business, which contributed 63% of revenue in the first half of 2020

(Bloomberg) — Ant Group Co. said it is repositioning its most popular consumer credit service to stand out from products offered by banks, its latest step in a regulatory-driven overhaul.

Under the brand differentiation plan, Ant’s Huabei will become the consumer credit service of Chongqing Ant Consumer Finance Co., focusing on the needs of users for small to medium amounts of credit, according to a letter to users on its Weibo account. Loans fully funded by other financial institutions will come under a separate label, “Xinyonggou,” for users with the need for a higher credit line.