BEIJING, Jan. 10, 2020 /PRNewswire/ -- Yiren Digital
(NYSE: YRD) ("Yiren Digital" or the "Company") announced today
that its wealth management platform Yiren Wealth has entered into a
strategic cooperation agreement with Principal Global Investors
(Hong Kong) Limited., a subsidiary
of Principal Financial Group (NASDAQ: PFG) (The Principal®), a
global investment management leader offering asset management,
retirement services and insurance solutions to institutional
clients, businesses and individuals. The partnership will open up a
comprehensive strategic business deployment in China's retirement financial service market,
helping China's mass affluent
population better prepare for retirement.
To meet the growing demand for retirement planning in
China, both parties will use their
collective expertise and resources in fintech, asset allocation and
digital wealth management to develop customized investment products
and solutions as well as promote the development of China's retirement financial service industry.
The partnership will also be committed to cultivating talent and
Principal will utilize its expertise and experience in helping
Yiren Wealth develop a highly professional retirement planning
team.
Mr. Ning Tang, CEO of the Company
and Executive Chairman of the Board, commented: "As a leading
digital wealth management platform in China, Yiren Wealth provides one-stop wealth
management solutions to the mass affluent, helping them to achieve
their key life goals. Retirement planning is becoming increasingly
important for Chinese population amidst China's rising pension system challenge.
Principal is a global leading financial services firm with
world-class expertise in customizing retirement solutions for
clients with all income and portfolio sizes. Through this
partnership, Yiren Wealth and Principal will be better positioned
to fill this market gap. We look forward to working together to
help Chinese investors better prepare for retirement."
About Yiren Digital
Yiren Digital Ltd. (NYSE: YRD) is a leading fintech company in
China, providing both credit and
wealth management services. For its credit business, the Company
provides an effective solution to address largely underserved
investor and individual borrower demand in China through online and offline channels to
efficiently match borrowers with investors and execute loan
transactions. Yiren Digital deploys a proprietary risk management
system, which enables the Company to effectively assess the
creditworthiness of borrowers, appropriately price the risks
associated with borrowers, and offer quality loan investment
opportunities to investors. Yiren Digital's marketplace provides
borrowers with quick and convenient access to consumer credit at
competitive prices and investors with easy and quick access to an
alternative asset class with attractive returns. For its wealth
management business, the Company targets China's mass affluent population and strives
to provide customized wealth management services, with a
combination of long-term and short-term targets as well as
different types of investments, ranging from cash and fixed-income
assets, to funds and insurance. For more information, please
visit ir.Yirendai.com.
About Yiren Wealth
Yiren Wealth aims to serve the mass affluent by providing safe,
professional digital wealth management services through asset
allocation strategies. Through short-term, medium-term, long-term,
and sustainable investment portfolios, Yiren Wealth helps investors
realize different life goals including asset accretion, retirement
planning, children's education and wealth inheritance. Yiren Wealth
leverages fintech solutions to drive innovations in wealth
management and provides customized services to help build and
manage wealth and improve people's lives.
About The Principal®
The Principal helps people and companies around the world build,
protect and advance their financial well-being through retirement,
insurance and asset management solutions that fit their lives. Our
employees are passionate about helping clients of all income and
portfolio sizes achieve their goals – offering innovative ideas,
investment expertise and real-life solutions to make financial
progress possible. To find out more, visit us at
www.principal.com.
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SOURCE Yiren Digital