BEIJING, December 18, 2018 - Pintec Technology Holdings Ltd. ("PINTEC"; NASDAQ: PT), a leading independent technology platform enabling financial services in China, today signed a strategic cooperation agreement with China National Investment & Guaranty Corporation (“I&G”), a leading enterprise in China’s guarantee industry. The two sides will jointly develop the next generation digital lending technologies and nurture a dynamic credit financing ecosystem for small and micro-sized enterprises in China.
Financial technology has transformed the traditional financial services and posed a new challenge to traditional financial institutions. The converging of technology and financial services has become a global trend. The strategic partnership between PINTEC and I&G aims to develop a credit financing ecosystem for small and micro-sized enterprises, which will better drive inclusive finance and support the real economy in China.
“I&G has long observed the trend driven by financial technology, and has been embracing the changes and leveraging fintech to develop our businesses,” said Li Feng, vice president of I&G, at the press conference. “We will leverage I&G’s brand and business advantages in guarantee and credit enhancement, and cooperate closely with PINTEC to develop technologies and provide efficient and effective financial services for small and micro-sized enterprises, helping create a favorable credit financing environment for the real economy.”
I&G is one of the largest guarantee institutions in China in terms of business scale, product offerings and client resources. The company has launched a number of fintech platforms and products in recent years, including Zhejiang Internet Financial Assets Exchange, Guotou (Ningxia) Internet Microfinance Co., Ltd, and lending services, such as Lingzhikuaidai and www.igfax.com.
“PINTEC values I&G’s rich experience and insights from the financial industry,” said William Wei, founder and CEO of PINTEC. “Combining our respective advantages, we will work together to develop the next generation digital lending solutions. PINTEC will continue to invest in R&D and develop innovative solutions to enable financial institutions to better serve small and micro-sized enterprises and individuals while realizing our corporate mission of ‘Power the future of finance’.”
Based on big data and artificial intelligence technologies, PINTEC has developed multiple end-to-end fintech solutions in digital lending and intelligent wealth management, providing advisory services, SaaS technologies, and value-add services that include traffic enhancement, data mining, risk management, and joint-operations services to our business and financial partners in China and abroad. The company has launched two joint ventures in Singapore, Avatec and Pivot, to provide fintech services in the Southeast Asian markets.
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