TWL

Lufax is an internet wealth management platform that provides financing and lending services for small and medium enterprises and individual clients. The company was incorporated in September 2011 in Shanghai with the support of Shanghai's Municipal Government, and has since become China's largest Internet finance company. While many fintech platfo... rms in China have been starting to serve more corporate clients, Lufax is unique in that it targets affluent individuals by offering more specialized services. As the interest in the wealth management segment grows, and private banks and other financial service providers fail to meet this demand, Lufax is able to fill this void and dominate in this emerging market. However, this company's imprudence in product selection due to legacy challenges has the potential to scare away investors. Lufax also faces immense pressure from larger competitors such as Alibaba.Read More