Commercial lenders turn to fintech as contactless financing gains ground

By JIANG XUEQING | CHINA DAILY | Updated: 2020-05-01 09:21Commercial banks are stepping up provision of online, mobile and phone banking services through the application of financial technologies, as the novel coronavirus epidemic has stimulated huge demand for contactless financial services.Amid the epidemic, the iron and steel industry has been facing growing financial pressure to resume work and production due to restrictions on transportation, raw material shortages and a drop in demand.China Zheshang Bank Co Ltd, a joint-stock commercial lender headquartered in Hangzhou, Zhejiang province…

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