Pintec Announces Industrial and Commercial Bank of China’s Successful Implementation of its SME Risk Management Solutions
July 06 2020 - 9:00PM
Pintec Technology Holdings Limited (Nasdaq: PT) (“Pintec” or the
“Company”), a leading independent technology platform enabling
financial services in China, today announced an update on its
cooperation with Industrial and Commercial Bank of China (“ICBC” or
the “Bank”). ICBC has adopted and implemented Pintec’s SME
risk management solutions for its micro- and small-sized (“SME”)
lending business, further enhancing the effectiveness of its
lending services for SME clients.
Through this cooperation, the Company has
provided ICBC with a number of cutting-edge fintech technology
solutions to further augment the Bank’s Jingyingkuaidai SME lending
Product, an inclusive loan product designated for SMEs. ICBC
has also leveraged the Company’s proprietary technology to refine
account management programs. The implemented solutions such as
machine-learning models have bolstered the Bank’s decision-making
capabilities, and enabled ICBC to double the accuracy rate of its
early risk warning models. This marks the completion of the
first stage of the cooperation between both parties.
“Our ability to help ICBC better serve its SME
clients through state-of-the-art fintech solutions demonstrates our
industry-leading technological capabilities and compelling value
propositions,” commented Pintec.
Recently, in response to the outbreak of the
COVID-19 and resulting escalation in SME’s demand for financing
support, there has been an increased focus on initiatives to help
SMEs solve their immediate funding problems. In recognition of this
critical need, ICBC promptly responded to the challenge, and
introduced a number of related initiatives to support SMEs.
Pintec has outstanding technical capabilities in
big data, artificial intelligence (AI), robotic process automation
(RPA), and rich experience in digital banking, consumer finance,
business lending, SME lending, wealth management, insurance
brokerage. Pintec has cooperated with nearly 200 financial and
commercial institutions, such as aiBank, United Overseas Bank
(UOB), East West Bank, Fullerton Micro Finance, China Mobile, China
Telecom, China UMS, Ctrip, etc., enabling them to effectively and
efficiently realize digital transformation in financial services
and business expansion with enhanced competitiveness.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements constitute "forward-looking"
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "target," "confident" and similar
statements. Among other things, the quotations from management in
this announcement, as well as PINTEC’s strategic and operational
plans, contain forward-looking statements. PINTEC may also make
written or oral forward-looking statements in its periodic reports
to the U.S. Securities and Exchange Commission, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Such statements are based upon
management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond the Company's control.
Forward-looking statements involve inherent risks, uncertainties
and other factors that could cause actual results to differ
materially from those contained in any such statements. Potential
risks and uncertainties include, but are not limited to, the
Company’s limited operating history, regulatory uncertainties
relating to online consumer finance in China, the Company’s
reliance on Jimu Group for a significant portion of its funding and
the need to further diversify its financial partners, the Company’s
reliance on a limited number of business partners, the impact of
current or future PRC laws or regulations on wealth management
financial products, publicity regarding the consumer finance
industry and the evolving regulatory environment governing this
industry in China, and the Company's ability to meet the standards
necessary to maintain the listing of its ADSs on the Nasdaq Global
Market, including its ability to cure any non-compliance with
Nasdaq's continued listing criteria. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
this press release, and the Company does not undertake any
obligation to update any forward-looking statement as a result of
new information, future events or otherwise, except as required
under applicable law.
About PINTEC
PINTEC is a leading independent technology
platform enabling financial services in China. By connecting
business and financial partners on its open platform, PINTEC
enables them to provide financial services to end users efficiently
and effectively. The Company offers its partners a full suite of
customized solutions, ranging from point-of-sale financing,
personal installment loans and business installment loans, to
wealth management and insurance products. Leveraging its scalable
and reliable technology infrastructure, PINTEC serves a wide range
of industry verticals covering online travel, e-commerce,
telecommunications, online education, SaaS platforms, financial
technology, internet search, and online classifieds and listings,
as well as various types of financial partners including banks,
brokers, insurance companies, investment funds and trusts, consumer
finance companies, peer-to-peer platforms and other similar
institutions. For more information, please visit ir.pintec.com.
Investor Relations Contact
Joyce TangPintec Technology Holdings Ltd.Phone:
+1-646-308-1622E-mail: ir@pintec.com
Jack WangICR Inc.Phone: +1-646-308-1622E-mail:
pintec@icrinc.com
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