Question
Alibaba in China is the largest e-commerce platform in the world. Beyond commerce, Alibaba provides a range of payment, credit and investment services almost entirely
Alibaba in China is the largest e-commerce platform in the world. Beyond commerce, Alibaba provides a range of payment, credit and investment services almost entirely digitally without a branch network. Alibaba leverages its e-commerce data to assess risk and offer credit services to businesses and its electronic payments solution to channel mutual fund investments for the mass market.6
Alibaba is an example of a BigTech that uses the data collected by its e-commerce platform to assess risk in respect of the provision of credit products and services. However, there are risks associated with this approach.
11.1 Briefly explain cybersecurity and data privacy risks associated with the use of Big Data for financial services (12 marks).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started