Here's what you need to know about the top finance unicorns

Citi just released a new Global Perspectives & Solutions (GPS) report with insight on how technology is disrupting the finance industry.

But what are the biggest names in financial tech?

Here's a list of the top 20 fintech "unicorns," or private companies valued at $1 billion or higher:

Citi GPS

The top two, Ant Financial and Lufax, are based in China. Valuation-wise, they're in a league of their own.

Ant Financial, valued at $45 billion to $50 billion, is Alibaba's online payments and finance affiliate.

It targets "small and micro enterprises" as well as individual consumers, according to the report. It operates Alipay, the Chinese equivalent of PayPal, according to the report. It also operates:

• Alipay Wallet, a digital wallet for Alipay and other peer-to-peer (P2P) payments
• Yu'e Bao, China's largest money market
• Zhao Cai Bao, a personal-loan platform
• Ant Micro Loan, a loan platform for small and medium enterprises
• Sesame Credit, a credit-ratings provider

Ant Financial also owns a significant stake in India's largest digital wallet, Paytm, according to the report.

Lufax offers various financial products, including wealth management and fund distribution, according to the report. It raised $1.2 billion at a $19 billion valuation in January.

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