BEIJING, June 3, 2020 /PRNewswire/ -- 360 Finance, Inc.
(NASDAQ: QFIN) ("360 Finance" or the "Company"), a leading digital
consumer finance platform, today announced that its mobile
application "360 Jietiao" was among the first batch of financial
services apps from 33 companies to complete registration and file
records with the National Internet Finance Association of
China ("NIFA"), the national
self-regulatory body for China's
internet finance industry backed by People's Bank of China (PBOC).
360 Finance was one of the first companies to submit
registration documents and receive a "FinTech Product
Certification", a key credential needed for app registrations
launched by the PBOC, as Chinese regulators tighten scrutiny of
mobile apps operated by financial institutions amid growing public
concern over personal data collection.
As a financial services app with an extensive user base, 360
Jietiao capitalizes on the expertise gained through Qihoo 360's
decades of technology development in the internet security sector.
360 Finance has established a strict code of conduct within its
has adopted an AI-driven protocol that effectively safeguards
personal information from any human intervention.
Mr. Haisheng Wu, Chief Executive
Officer and Director of 360 Finance, commented, "Regulators are
cracking down in order to further protect consumers and have put in
place a series of rules to strengthen personal data protection. As
a company with strong cyber security capabilities in our DNA, 360
Finance places a high priority on providing robust data privacy
protections and will never collect data without users' consent. We
have a strict code of conduct that guides our business operations
and employee behaviors and we have a technology-driven
infrastructure in place that secures our systems. We will spare no
effort in safeguarding personal information."
PBOC issued the notice on the promulgation of financial industry
standards and the enhancement of mobile app security in
September 2019, and designated NIFA
to carry out the registration process. NIFA has required
traditional financial institutions and fintech companies to submit
self-inspection reports on their financial services apps and
approved a list of apps which are in full compliance with the law.
Industrial and Commercial Bank of China, China Construction Bank and Ant
Financial are also among the first companies to complete the
registration and receive a certification.
About 360 Finance
360 Finance, Inc. (NASDAQ: QFIN) ("360 Finance" or the
"Company") is a leading digital consumer finance platform and the
finance partner of the 360 Group. The Company provides tailored
online consumer finance products to prime, underserved borrowers
funded primarily by its funding partners. The Company's proprietary
technology platform enables a unique user experience supported by
resolute risk management. When coupled with its partnership with
360 Group, the Company's technology translates to a meaningful
borrower acquisition, borrower retention and funding advantage,
supporting the rapid growth and scaling of its business.
For more information, please
Safe Harbor Statement
Any forward-looking statements contained in this announcement
are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. 360 Finance may also make
written or oral forward-looking statements in its reports to the
U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and
6-K, 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. Statements that
are not historical facts, including statements about 360 Finance's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding such risks and
uncertainties is included in 360 Finance's filings with the SEC.
All information provided in this press release and in the
attachments is as of the date of this press release, and 360
Finance does not undertake any obligation to update any
forward-looking statement, except as required under applicable
For more information, please contact:
Mr. Christian Arnell
Ms. Linda Bergkamp
SOURCE 360 Finance, Inc.