PINTEC to enter into Strategic Business Co-operation with Fullerton Financial to jointly expand digital lending business in China

Author: PINTEC | 2018-12-26

BEIJING, DECEMBER 26, 2018 – Pintec Technology Holdings Limited (“PINTEC”, Nasdaq: PT), a leading independent technology platform enabling financial services in China, and Fullerton Credit (“FC”) have entered into a Memorandum of Understanding to jointly expand digital lending solutions to the China market. FC is a group of micro-credit companies wholly owned by Fullerton Financial Holdings Pte. Ltd. (“FFH”).

FC provides operating and consumer loans for individuals, micro businesses and SMEs, with total cumulative loans disbursed exceeding more than RMB15 billion to date. Established in 2008, FC has both online and offline lending presence in 31 locations in China, serving over 50,000 customers. FC has been consistently named one of the “Top 100 Competitive China Micro-credit Companies” by the China Microfinance Research Institute.

As part of this cooperation, PINTEC will develop digital lending solutions for FC for various online consumer scenarios, and provide technical support to connect FC with a wider range of small and micro-sized enterprises and individual customers.

FFH entered China's micro-credit market in 2008, and established four micro-credit companies under the brand FC by the end of 2017. Prior to this, FFH, as an early entrant in the China market, partnered with Bank of China to establish a joint venture, BOC Fullerton Community Bank, which today forms the largest network of community banks covering 22 provinces in China.

Mr. Gan Chee Yen, CEO of FFH, said that the strategic cooperation with PINTEC is a reflection and continuation of FFH’s strategy of leveraging technology and broadening of customer segments to serve the China market.

Mr. William Wei, founder and CEO of PINTEC, said that as a leading independent technology platform enabling financial service in China, PINTEC possesses advanced technologies, serves massive customers in numerous scenarios through online and offline business partners, and provides financial institutions with overall solutions including system development, scenario access, customer screening, and asset management. The cooperation with FFH and FC will help PINTEC further promote digital lending solutions among financial institution customers to realize the company's mission to “Power the Future of Finance.”

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