SHANGHAI, March 18,
2025 /PRNewswire/ -- FinVolution Group (NYSE: FINV),
a leading fintech company, today announced its unaudited financial
results for 2024, highlighting continued global expansion,
strategic collaborations, and advancements in AI-driven credit
technology.
FinVolution reported annual revenue of US$1.8 billion, a 4.1% year-over-year increase,
with net profit remaining stable at US$327.1
million. Transaction volume reached US$28.2 billion, up 6.1%, while outstanding loan
balance rose to US$9.8 billion, also
a 6.1% increase.
FinVolution Group's CEO, Tiezheng
Li commented, "We successfully leveraged our strengths in
technology, customer acquisition, and retention to deliver solid
results despite a challenging environment in 2024. These
achievements strengthen our confidence for 2025 and beyond—becoming
the leading fintech player across the Pan-Asian region."
FinVolution Group's CFO, Jiayuan
Xu, stated: "Over the past year, FinVolution achieved solid
growth and demonstrated healthy financial performance. In 2024, we
allocated US$160.4 million to
shareholder returns, accounting for approximately 49.1% of our
annual net profit. Since 2018, we have returned a total of
approximately US$765 million to our
shareholders. This underscores our steadfast commitment to
enhancing shareholder value and our strong confidence in the
company's business fundamentals and cash flow outlook."
Accelerating International Growth
FinVolution's international business continued its strong
momentum, contributing 21.4% of total revenue in Q4 2024. The
company acquired 2.2 million new borrowers outside of its Chinese
market in 2024, a 61% year-over-year increase, with international
transaction volume surpassed US$1.4
billion, while the outstanding loan balance grew 31% to
US$232.9 million.
To support its global expansion, FinVolution secured key
financial licenses across multiple markets, including:
- A Non-Banking Financial Company (NBFC) license from the
Securities and Exchange Commission of Pakistan (SECP).
- Acquired a large majority stake in an Indonesian multi-finance
company, enabling FinVolution to diversify its products into
offline consumption loans with different scenarios such as mobile
and electronic devices.
- Accreditation as a Special Accessing Entity (SAE) by the Credit
Information Corporation (CIC) of the
Philippines.
Strengthening Partnerships and Expanding Financial
Inclusion
Following a successful transition to higher-quality borrowers in
FinVolution's largest overseas market, Indonesia, transaction volume in the second
half of 2024 grew to US$506.9
million, up 11% compared to the first half of 2024. The
company also strengthened its funding network, adding Super Bank,
bringing its total active funding partners to 10 in Indonesia.
In the Philippines, FinVolution
became the first company to introduce institutional funding through
its loan facilitation model, collaborating with 5 leading
institutional funding partners. The company also expanded its Buy
Now, Pay Later (BNPL) services, embedding fintech solutions
directly into major e-commerce platforms to enhance financial
access for consumers.
Looking ahead, FinVolution aims to generate 50% of its revenue
from international markets by 2030 under its "Local Excellence,
Global Outlook" strategy. Building on its success in Indonesia and the
Philippines, the company is accelerating expansion into
Pakistan and other countries in
2025.
Driving Innovation with AI-Powered Credit Technology
FinVolution continues to push the boundaries of AI-driven credit
technology, leveraging Large Language Models (LLMs) to optimize
every stage of the credit lifecycle. In 2024, the company
officially registered its proprietary LLM, "Rice Seeds", designed
to enhance credit risk assessment, fraud detection, and customer
interactions.
The company also launched Zeta, an AI-powered application
platform, complementing its E-LADF AI development platform
introduced in 2023. These two platforms have enabled an intelligent
ecosystem covering customer acquisition, risk control, and user
engagement, supporting over 1,000 AI applications that have
significantly improved operational efficiency and user
experience:
- Customer Acquisition: AI-driven advertising technology
reduced marketing material production costs by 60%.
- Risk Management: Proprietary visual AI models improved
fraud detection accuracy to 99%, leveraging background template
recognition and ID verification algorithms.
- Customer Engagement: AI-powered behavioral and
conversational KYC tagging optimized customer service strategies,
boosting overall user conversion rates by 9%.
- Customer Support: AI-generated call summaries and user
sentiment analysis increased operational efficiency by 20
times.
As FinVolution continues to scale its global footprint, the
company remains committed to leveraging cutting-edge AI and fintech
solutions to drive financial inclusion and sustainable growth.
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