SHANGHAI, July 27,
2023 /PRNewswire/ -- FinVolution Group
("FinVolution," or the "Company") (NYSE: FINV), a leading fintech
platform, today announced that its Indonesian financial
application, AdaKami, has entered into a strategic cooperation
agreement with PT Bank Seabank Indonesia ("SeaBank"), a digital
bank dedicated to bettering the lives of consumers and
small businesses in the region with technology. Under the terms of
the agreement, SeaBank will provide AdaKami with a funding facility
of approximately 300 billion Rupiah
(US$20.0 million) to enhance
AdaKami's integrated API services for direct transactions,
expanding FinVolution's international service offerings and
advancing the Company's mission of connecting underserved borrowers
with financial institutions.
Building upon FinVolution's cutting-edge technologies and
extensive experience in the region, AdaKami's various partnerships
with leading Indonesian banks have flourished, boosting the
platform's service efficiency and user connectivity while also
promoting financial inclusion in the region. AdaKami's latest
strategic collaboration with SeaBank will enable customers to
seamlessly conduct real-time funding transactions through API,
supplying individuals and small businesses with direct access to
fintech solutions that contribute to Indonesian economic
development.
Mr. Tiezheng Li, President
and Chief Executive Officer of FinVolution Group, commented,
"Driven by our Local Focus, Global Outlook strategy,
FinVolution is proud to support Indonesia's economic growth through
technology. AdaKami's partnership with SeaBank will empower
underserved customers throughout the country with faster, simpler
and more direct banking services. With FinVolution's commitment to
financial inclusion firmly in mind, we will continue to invent and
deploy creative technologies, expanding our customer base and
elevating user experience while improving efficiency across our
operations. We are confident that as we forge new partnerships and
deliver enhanced financial solutions to more customers, we will
replicate our domestic success in international markets, propelling
the rapid growth of the fintech industry in Southeast Asia and beyond."
About FinVolution Group
FinVolution Group is a leading fintech platform in
China and internationally
connecting underserved borrowers with financial institutions.
Established in 2007, the Company is a pioneer in China's online consumer finance industry and
has developed innovative technologies and has accumulated in-depth
experience in the core areas of credit risk assessment, fraud
detection, big data and artificial intelligence. The Company's
platform, empowered by proprietary cutting-edge technologies,
features a highly automated loan transaction process, which enables
a superior user experience. As of March 31, 2023, the Company
had over 164.5 million cumulative registered users.
For more information, please visit:
http://ir.finvgroup.com.
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. 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 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, uncertainties as to
the Company's ability to attract and retain borrowers and investors
on its marketplace, its ability to increase the volume of loans
facilitated through the Company's marketplace, its ability to
introduce new loan products and platform enhancements, its ability
to compete effectively, laws, regulations and governmental policies
relating to the online consumer finance industry in China, general economic conditions in
China, and the Company's ability
to meet the standards necessary to maintain the listing of its ADSs
on the NYSE, including its ability to cure any non-compliance with
the NYSE'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 FinVolution 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.
For investor and media inquiries, please
contact:
In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan, IRC
Tel: +86 (21) 8030 3200 Ext. 8601
Email: ir@xinye.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
Email: finv@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail:
finv@tpg-ir.com
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SOURCE FinVolution Group