Ant Financial eyes credit score system for China

The Series B round values the Alibaba financial affiliate at nearly $60 billion, up from $45 billion a year ago.

Ant Financial eyes credit score system for China

Ant Financial Services Group is stepping up efforts to create a credit scoring system that can quickly access the credit history of China's 650 million internet users, according to two people familiar with the company.

With the help of a $3 billion war chest that it soon hopes to amass through a second round of private funding, the Alibaba financial affiliate hopes such a system will facilitate even more online shopping and support earnings by...

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