Pintec Technology Holdings Ltd. (“Pintec”;NASDAQ: PT), a leading independent fintech solutions provider, today announced a strategic alliance with Industrial and Commercial Bank of China (ICBC) to jointly leverage financial technologies to improve the efficiency of lending services for small and micro-sized enterprises (SMEs).
ICBC is one of China’s “Big Four” state-owned commercial banks and the world’s largest bank and public company by total assets. As of 2019, ICBC tops the rankings of Top 1000 World Banks by the British magazine The Banker and the Global 2000 list of largest public companies by Forbes for the seventh consecutive year.
Based on ICBC’s inclusive financial products for SMEs, Pintec will provide a tailor-made digital lending solution to assist ICBC in further improving the micro-credit system as well as the efficiency and effectiveness of data models and business decision-making capabilities to better serve SMEs in the country.
In August 2019, the People’s Bank of China released the three-year FinTech Development Plan (2019-2021). It defines fintech as a new engine to power financial transformation and upgrading, which has become a significant strategy for the digitalization of traditional banks. The cooperation between Pintec and ICBC shows that fintech has become a key internal driving force for the development of financial inclusion.
By leveraging AI and big data technologies, Pintec has developed digital lending solutions for SMEs in various business ecosystems, such as e-commerce, payment and tax platforms, accumulating rich experience in evaluating these enterprises and business owners across multiple credit dimensions.
Pintec has been providing tailor-made and modular fintech solutions to its financial and business partners, including point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions.
About Pintec
Pintec is a leading fintech solutions provider. With its mission to “Power the Future of Finance”, Pintec aims to advance financial services by providing customized and modular fintech solutions to its financial and business partners, including point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions. The company operates a unique SaaS Plus service model. In addition to the industry-leading SaaS service platform, Pintec also offers a full suite of value-added solutions to its customers, including decision support, traffic enhancement, joint operations, and advisory services. Pintec has cooperated with a number of business and financial partners, including but not limited to Xiaomi, Qunar, Ctrip, China Telecom BestPay, Vip.com, Minsheng Securities, Orient Securities, Yunnan Trust, Guoyuan Securities, Bank of Nanjing, East West Bank, China National Investment & Guaranty Corporation, Fullerton Financial Holdings. On October 25, 2018, Pintec was officially listed on the Nasdaq Global Market with American depositary shares trading under the symbol “PT”.
For more information, please visit www.Pintec.com
