# MYbank (China)

> Source: https://docs.barcoder.ai/docs/wallets/mybank
> research date 2026-05-29 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [MYbank — official](https://www.mybank.cn/)

## Overview

**MYbank** (also known as **Zhejiang E-Commerce Bank**) is **Ant Group's Chinese SME-focused digital bank**, founded **June 2015** <sup>[1][1], [2][2], [China report](https://docs.barcoder.ai/docs/payments/CN)</sup>. **End-2023 baseline**: **53+ million SME customers cumulatively served** (up from 45M end-2021).

**Distinctive MYbank "310 model"** <sup>[3][3]</sup>:
- **<3 minutes** to apply for collateral-free business loan on mobile
- **<1 second** to approve
- **0 human interaction** required
- **MSMEs + individuals with limited access to traditional bank financing** — distinctive financial-inclusion model.

**Technology-heavy operations** <sup>[3][3]</sup>:
- **36% of operating expenses on tech**
- **64% of workforce comprises tech talents**
- **No brick-and-mortar branches** — fully online digital bank.

**Beijing-tapped for digital yuan (CBDC) interest payments** alongside WeBank + 8 banks <sup>[4][4]</sup> — distinctive Ant-Group-affiliated bank participation in PBoC digital RMB.

## History

**June 2015 — MYbank established by Ant Group** <sup>[2][2]</sup>: Positioned as digital financing institution serving MSMEs + individuals with limited bank financing access.

**2015-2021 — Mass Chinese SME adoption** <sup>[1][1]</sup>: Multi-million SME growth.

**End-2021 — 45M SMEs served cumulatively** <sup>[1][1]</sup>.

**End-2023 — 53M+ SMEs served cumulatively** <sup>[3][3]</sup>.

**2024-2025 — Continued Chinese SME financial-inclusion expansion + digital yuan CBDC interest payments role** <sup>[4][4]</sup>.

## Ownership & operator

**Operating entity**: **MYbank (Zhejiang E-Commerce Bank Co. Ltd.)** — Ant Group subsidiary.

**Parent**: **Ant Group** (Chinese fintech mega-conglomerate; Jack Ma + Alibaba shareholders ultimate beneficiaries).

**Regulators**: **NAFR (National Administration of Financial Regulation, China; merged from CBIRC 2023)** + **PBoC (People's Bank of China)**.

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | MYbank mobile app + Alipay-embedded SME-banking integration + MYbank API |
| **Identifiers** | Phone + Chinese ID Card + business account |
| **Chinese rail** | Ant Group ecosystem (Alipay + UnionPay + WeChat Pay cross-platform) |
| **License** | Private internet bank (NAFR-licensed; SME-focused; no brick-and-mortar) |
| **310 Model**: <3 min apply + <1 sec approve + 0 human interaction (SME financing) |
| **Tech-heavy operations**: 36% opex on tech + 64% tech-talent workforce |
| **Sub-products** | MYbank SME Loans (cornerstone product) + MYbank Wealth + Digital RMB (CBDC) integration |

## Users & growth

**2025 baseline** <sup>[1][1], [3][3]</sup>:
- **Cumulative SME customers served (end-2023)**: 53+ million
- **End-2021 baseline**: 45+ million SMEs
- **Growth FY2022 → FY2023**: +8M SMEs in 2 years
- **Distinctive "310 model"** — industry-pioneering SME financing innovation
- **Tech-heavy operations**: 36% opex on tech + 64% tech talent workforce
- **Digital RMB CBDC interest payments role** alongside WeBank + 8 banks

## Use cases

Chinese SME + MSME + individual financing (53M+ SMEs cumulatively); collateral-free business loans via "310 model" (<3 min apply + <1 sec approve + 0 human interaction); Alipay-embedded SME-banking integration; rural-Chinese financial inclusion (record growth in rural clients); Digital RMB CBDC interest payments role.

## Implementations & partners

**Operator**: **MYbank (Zhejiang E-Commerce Bank Co. Ltd.)** — Ant Group subsidiary.

**Parent**: **Ant Group** (Chinese fintech mega-conglomerate).

**Major Chinese digital banking competitors**:
- **[WeBank (China)](https://docs.barcoder.ai/docs/wallets/webank)** (Tencent-anchored; world's largest digital bank; 400M+ individual + 53M+ SMEs)
- **XW Bank** (Xiaomi + New Hope Group; CN consumer lending)
- **AiBank** (Baidu-backed; CN consumer lending)

**Major Chinese mobile-payment ecosystem cross-references**:
- **[Alipay](https://docs.barcoder.ai/docs/wallets/alipay)** (Batch 1 covered; Ant Group; China dominant + global cross-border + MYbank sister product)
- **[WeChat Pay](https://docs.barcoder.ai/docs/wallets/wechat-pay)** (Batch 2 covered; Tencent; China dominant)
- **[UnionPay QR](https://docs.barcoder.ai/docs/standards/unionpay-qr)** (China national card scheme)

**Regulators**: **NAFR + PBoC**.

## Fun facts

- **June 2015 founding by Ant Group** as Chinese SME-focused digital bank.
- **53M+ SME customers served cumulatively (end-2023)** — up from 45M (end-2021).
- **"310 Model"**: <3 min apply + <1 sec approve + 0 human interaction — industry-pioneering SME financing innovation.
- **No brick-and-mortar branches** — fully online digital bank.
- **36% opex on tech + 64% tech-talent workforce** — distinctive tech-heavy operations.
- **Beijing-tapped for digital yuan (CBDC) interest payments** alongside WeBank + 8 banks.
- **Rural-Chinese financial inclusion** — record growth in rural clients (per 2021 BusinessWire).
- **Sister to Alipay** within Ant Group fintech mega-conglomerate.

## Comparison

| Feature | MYbank | [WeBank (China)](https://docs.barcoder.ai/docs/wallets/webank) (Tencent-anchored CN digital bank rival) | XW Bank (Xiaomi + New Hope CN rival) | [Alipay](https://docs.barcoder.ai/docs/wallets/alipay) (Batch 1; sister Ant Group product) | [WeChat Pay](https://docs.barcoder.ai/docs/wallets/wechat-pay) (Batch 2; Tencent rival) |
|---|---|---|---|---|---|
| Operator | **MYbank (Zhejiang E-Commerce Bank; Ant Group subsidiary)** | WeBank Co. Ltd. (Tencent-anchored consortium) | XW Bank (Xiaomi <30% + New Hope Group 30%) | Alipay (Ant Group) | Tencent |
| Type | **CN SME-focused private internet bank (Ant Group; "310 model")** | World's largest digital-only bank (Tencent-anchored CN consortium) | CN consumer lending | CN super-app + global cross-border | CN super-app + dominant |
| Country | China | China | China | China + global cross-border | China + global cross-border |
| Users | **53M+ SMEs cumulatively (end-2023; up from 45M end-2021)** | 400M+ individual + 53M+ SMEs | 14M+ borrowers (May 2018 baseline) | 1.3B+ | 1.3B+ |
| Distinctive | **"310 Model" SME financing innovation (<3 min apply, <1 sec approve, 0 human interaction); no brick-and-mortar; 36% opex on tech + 64% tech-talent workforce; Beijing-tapped for digital yuan interest** | World's largest digital-only bank; Tencent ~30% largest shareholder; 2025 Asian Banker Best Digital Bank Asia-Pacific | Xiaomi + New Hope Group; 2021 CN banking-regulator scrutiny | Ant Group super-app dominant | Tencent super-app dominant |

## Status

**Active, Ant Group's Chinese SME-focused private internet bank** <sup>[1][1], [3][3]</sup>:
- **MYbank (Zhejiang E-Commerce Bank Co. Ltd.)** — Ant Group subsidiary since June 2015.
- **53M+ SME customers served cumulatively (end-2023; up from 45M end-2021)**.
- **"310 Model" SME financing innovation** + no brick-and-mortar + 36% opex on tech + 64% tech-talent workforce.
- **Digital RMB CBDC interest payments role**.
- **NAFR + PBoC regulated**.

## Sources

[1]: https://www.businesswire.com/news/home/20220428006381/en/MYbank-Makes-Financing-More-Accessible-for-45-Million-SME-Clients-by-Leveraging-Digital-Technology "MYbank 45M SME clients 2022 — Business Wire"
[2]: https://www.antgroup.com/en/business-development/digital-finance-tab-details/mybank "MYbank — Ant Group official"
[3]: https://www.businesswire.com/news/home/20240430942970/en/Leveraging-AI-MYbank-Enables-Financing-Services-for-53-Million-SMEs "MYbank AI 53M SMEs — Business Wire"
[4]: https://www.dlnews.com/articles/markets/10-chinese-banks-to-pay-interest-on-digital-yuan/ "Beijing taps WeBank + Alipay's MYBank + 8 banks for digital yuan interest — DL News"
[cn-cro]: https://docs.barcoder.ai/docs/payments/CN

- [1] [MYbank 45M SME clients — Business Wire][1]
- [2] [MYbank — Ant Group official][2]
- [3] [MYbank AI 53M SMEs — Business Wire][3]
- [4] [Beijing taps WeBank + MYbank for digital yuan — DL News][4]
- <sup>[China report](https://docs.barcoder.ai/docs/payments/CN)</sup> In-corpus: `reports/countries/CN-china.md`

## Source

Biography extracted from [mybank.md](https://docs.barcoder.ai/source/wallets/mybank). See `matrix.md` for standards-support matrix if present.