BEIJING, June 2, 2016 /PRNewswire/ -- PINTEC Group today announced the launch of its intelligent financial services technology platform, further extending the boundaries of innovation in China's rapidly growing financial technology industry.
PINTEC drives new financial product opportunities by expanding access to financial services for consumers, mitigating risk by decreasing human interference, and breaking down historical financial market barriers. PINTEC is leveling the playing field for consumers by creating innovative financial services solutions for the digital economy.
PINTEC's wholly owned subsidiaries include Dumiao, Yidian Fund, Jimubox and 76hui. In addition, the Group will soon launch a Robo-Investment Advisory product. PINTEC Founder Dong Jun, formerly the CEO of industry leading marketplace lending platform Jimubox, will be CEO of PINTEC Group.
"China's financial services market has experienced substantial change over the past four years since our core team got together to start the business," said Dong. "Since initially launching 76hui, offering outsourced credit information and loan underwriting services, we have rapidly reacted to market opportunities and embraced financial innovations. Jimubox emerged as a market leader in connecting borrowers and individual investors, and we subsequently launched Dumiao, a digital consumer lending technology, and Yidian Fund, an online mutual fund distribution platform. We have blazed our own trail by seamlessly integrating big data and financial transactions.
"PINTEC's wholly owned subsidiaries will focus on innovative financial services solutions that utilize digital technology to address consumer pain points in the traditional financial sector."
PINTEC and its wholly owned business units have always prioritized regulatory compliance and licensing while developing technology-driven strategies.
76hui utilizes a commercial credit-reporting license issued by the People's Bank of China to provide big-data-based credit information services to financial institutions. Dumiao's proprietary data engine leverages big data to mitigate fraud and provide real-time automated credit decisions at the consumer point-of-sale. Yidian Fund utilizes a license from the China Securities Regulatory Commission for the online distribution of mutual funds to provide technology driven customized fund products. Jimubox was the first marketplace lending platform in China to partner with a Chinese bank on a custodian bank funds flow system, which is now the centerpiece requirement of new online lending regulations.
Under the leadership of PINTEC, each wholly owned subsidiary will operate as an independent business with a separate management team. Effective immediately, Zhou Jing has been appointed CEO of Dumiao, Hu Wei has been appointed CEO of Yidian Fund, Trent Xie has been appointed CEO of Jimubox, and Zheng Yudong will serve as CEO of the Group's new Robo-Investment Advisory business.
The Group gets its name from the PINs on computer circuit boards. "Just as PINs on a CPU are the connectors that power the computers that drive our digital economy, the PINTEC name reveals our determination to be a connector between technology and finance," Dong said.