Alipay’s parent company’s other subsidiary, MYbank, exemplifies the Bezos quote:
…the Hangzhou-based firm’s operating cost per loan is about 3 yuan, versus 2,000 yuan at traditional rivals.
This Bloomberg article described how with technology + access to better data MYbank approves loans in 3 minutes instead of 30 days, approves 4 times as many applications as regular lenders, with a default rate of just 1%. It has now lent the equivalent of USD 290bn.