Asian banks bite back at big tech

Asia Risk 25: Asian lenders eye technology and data to help tame disruptors on their turf

This is part of a series of articles marking Asia Risk’s 25th anniversary

When China blocked the $34 billion initial public offering of tech giant Ant Group, which would have been the world’s largest ever IPO, it shone a bright light on a couple of home truths. First, on just how far Asian fintechs have come in a mere decade. And second, that the ascendent might of the fintechs and the mores of traditional finance make very uneasy bedfellows.

The IPO was blocked less than a month after Jack Ma