BEIJING, April 07, 2020 (GLOBE NEWSWIRE) -- Pintec Technology Holdings Limited (Nasdaq: PT) (“Pintec” or the “Company”), a leading independent technology platform enabling financial services in China, today announced that its subsidiary, Ganzhou Aixin Internet Micro Finance Co., Ltd. (“Aixin”), has successfully interfaced with the Credit Reference Center (“CRC”) of The People’s Bank of China (“PBOC”). Aixin is the first internet microfinance service provider with national service coverage in Jiangxi Province to successfully interface with the CRC, enabling Aixin to leverage the CRC’s extensive credit reference database (the “database”) to further optimize its service offerings in China.
Aixin, formerly known as Ganzhou Jimu Micro Finance Co., Ltd., was founded in April 2016 with total registered capital of RMB500 million. In December 2017, Aixin received initial approval from the PBOC to access the CRC and begin the process of interfacing with its system. In March 2019, Aixin became a wholly-owned subsidiary of the Company.
The CRC is a credit information agency directly administered by the PBOC and is considered an essential component of the financial infrastructure in China. Companies that receive approval from the PBOC are able to access the CRC’s database to assess the ability of individuals and businesses to repay debt. Notably, the database is currently composed of 1.02 billion individuals and 28.3 million businesses in China.
“The approval of Aixin to access the CRC’s database by the PBOC is further recognition of its comprehensive regulatory compliance as well as the strength of its risk management capabilities,” commented Mr. Steven Sim, Chief Financial Officer of Pintec. “In response to the novel coronavirus COVID-19 outbreak in China, Aixin has implemented a series of initiatives to help its small and medium-sized enterprise customers overcome their current funding challenges in the marketplace. Going forward, we plan to continue expanding Aixin’s financing services, refining its product offerings, upgrading its technological capabilities, and exploring joint business development opportunities to accelerate Aixin’s growth trajectory. Moreover, we are confident that Aixin’s successful interface with the CRC’s database will heighten our risk control processes and contribute to enhancing the overall quality of our credit assets, both of which are mission-critical to driving to the sustainable growth of our company over the long term.”
Safe Harbor Statement
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About Pintec
Pintec is a leading independent technology platform enabling financial services in China. By connecting business and financial partners on its open platform, Pintec enables them to provide financial services to end users efficiently and effectively. The Company offers its partners a full suite of customized solutions, ranging from point-of-sale financing, personal installment loans and business installment loans, to wealth management and insurance products. Leveraging its scalable and reliable technology infrastructure, Pintec serves a wide range of industry verticals covering online travel, e-commerce, telecommunications, online education, SaaS platforms, financial technology, internet search, and online classifieds and listings, as well as various types of financial partners including banks, brokers, insurance companies, investment funds and trusts, consumer finance companies, peer-to-peer platforms and other similar institutions. For more information, please visit ir.Pintec.com.
Investor Relations Contact
Joyce Tang
Pintec Technology Holdings Ltd.
Phone: +1-646-308-1622
E-mail: ir@Pintec.com
Jack Wang
ICR Inc.
Phone: +1-646-308-1622
E-mail: Pintec@icrinc.com
Source: Pintec Technology Holdings Limited