FinVolution Group Wins Asian Banker's Award for "Best Consumer Lending Technology Implementation in China"

Rhea-AI Summary

FinVolution Group has won the 'Best Consumer Lending Technology Implementation in China' at the 2024 Asian Banker China Awards, alongside CITIC Consumer Finance. The accolade highlights FinVolution's commitment to innovative financial technology and its significant impact on enhancing the resources and business scale of its partner, CITIC Consumer Finance. The rigorous evaluation process included over 400 entries from more than 160 institutions in the financial and fintech sectors.

FinVolution has been a key player in advancing microfinance and consumer finance by collaborating with 102 licensed financial institutions by Q1 2024. The partnership with CITIC has notably improved digitalization, customer acquisition, risk management, and fraud prevention, leading to significant business growth.

CEO Tiezheng Li expressed commitment to developing secure and efficient financial technology services to connect financial institutions with underserved populations. Since its inception in 2007, FinVolution has been a trusted partner to over 100 financial institutions and millions of users, emphasizing technological innovation in financial services.

Positive

• FinVolution won the 'Best Consumer Lending Technology Implementation in China' award.
• The award process was rigorous, with over 400 entries from 160 institutions.
• FinVolution partnered with CITIC Consumer Finance to enhance digitalization and efficiency in customer acquisition and risk management.
• By Q1 2024, FinVolution had served 102 licensed financial institutions.
• Significant improvements in fraud prevention and risk indicators due to technological innovation.

Negative

• None.

SHANGHAI, June 24, 2024 /PRNewswire/ -- FinVolution Group, a leading fintech company, has been awarded the "Best Consumer Lending Technology Implementation in China" alongside CITIC Consumer Finance at the Asian Banker China Awards 2024. This award acknowledges FinVolution's dedication to providing innovative technology to financial institution partners.

The Asian Banker Awards are known for their rigorous and transparent evaluation process within China's financial industry. This year, the awards received over 400 entries from more than 160 institutions across the financial and fintech sectors.

The award highlighted FinVolution's efforts in enhancing the resources and business scale of its partner, CITIC Consumer Finance, through improved financial risk control and technological innovation.

In recent years, FinVolution has closely collaborated with financial institutions to enhance microfinance and consumer finance through advanced technology and services. By the first quarter of 2024, FinVolution had served 102 licensed financial institutions, including banks, consumer finance companies, and trusts.

FinVolution's partnership with CITIC Consumer Finance has improved digitalization and efficiency in CITIC's customer acquisition, risk management, and fraud prevention. This collaboration has led to a significant expansion of resources and business scale, as well as improved risk indicators.

Tiezheng Li, CEO of FinVolution Group, said, "We are pleased to receive this award with CITIC Consumer Finance. FinVolution is committed to developing technology that connects financial institutions with underserved populations and supports our partners in enhancing their digital capabilities with secure and efficient financial technology services."

Since its founding in 2007, FinVolution has continually innovated to deliver comprehensive fintech solutions. Today, it stands as a trusted partner to over 100 financial institutions and millions of users, driving forward the future of finance through technology.

About FinVolution Group

FinVolution Group is a leading fintech company that connects millions of consumers as well as small-sized enterprises with financial institutions.

Founded in 2007 and listed on the New York Stock Exchange(NYSE: FINV) in 2017, we have been at the forefront of the pan-Asian credit technology industry, pioneering innovative technologies in credit risk assessment, fraud detection, big data, and artificial intelligence. With a proven track record of robust growth in pan-Asian countries, we have established leading fintech platforms in China, Indonesia, and the Philippines.

View original content:https://www.prnewswire.com/news-releases/finvolution-group-wins-asian-bankers-award-for-best-consumer-lending-technology-implementation-in-china-302179989.html

SOURCE FinVolution Group

FAQ

What award did FinVolution Group win in 2024?

FinVolution Group won the 'Best Consumer Lending Technology Implementation in China' award at the 2024 Asian Banker China Awards.

What improvements did FinVolution make for CITIC Consumer Finance?

FinVolution improved digitalization, customer acquisition, risk management, and fraud prevention for CITIC Consumer Finance.

How many financial institutions did FinVolution serve by Q1 2024?

By the first quarter of 2024, FinVolution had served 102 licensed financial institutions.

What is the significance of the Asian Banker Awards for FinVolution?

The Asian Banker Awards are known for their rigorous evaluation process, highlighting FinVolution's dedication to innovative technology in the financial industry.

How did FinVolution impact CITIC Consumer Finance's business scale?

FinVolution's technological innovations significantly expanded CITIC Consumer Finance's resources and business scale.