CreditEase Addresses Top FinTech Trends at LendIt USA 2017 Conference in New York

NEW YORK, March 6, 2017 /PRNewswire/ -- CreditEase, China's leading fintech company announced today that its subsidiary company, Yirendai (NYSE:YRD), an leading online digital consumer financial service platform, together with CreditEase Fintech Investment Fund and CreditEase Offshore Private Credit Fund ("OPCF") delivered a series of keynote speeches at the 2017 LendIt USA conference in New York from March 6 to 7.  LendIt annual conferences are recognized as one of the largest global fintech industry events dedicated to connecting the global fintech and lending communities

Keynote speakers from CreditEase include Yihan Fang, Chief Executive Officer of Yirendai; Yang Cao, Chief Operating Officer and Chief Technology Officer of Yirendai; Anju Patwardhan, Senior Partner of CreditEase Fintech Investment Fund and member of Investment Committee; and Mikael Nabati, Chief Investment Officer of CreditEase Offshore Private Credit Fund.  

Ning Tang, Founder and CEO of CreditEase stated, "We are excited to take the global stage and showcase the stars of our CreditEase eco-system. CreditEase is the market leader in wealth management and inclusive finance in China and globally. As China is increasingly embracing financial technologies that rejuvenate economic growth and improve financial health, we are well positioned to continue to address the underserved needs of fast-growing, mass affluent and high-net worth investors. We are also expanding our various investment funds to meet demands of our wealth management clients and enable them to take advantage of global investment opportunities while ensuring balanced asset allocation."

On the main stage, Yirendai executives delivered a keynote speech named From Big to Strong: China FinTech Entering a New Era. Yihan Fang and Yang Cao of Yirendai shared with the audience the latest fintech industry trends in China, regulatory environment of online marketplace lending in China, and industry's current challenges. In addition, Yirendai announced the launch of Yirendai Enabling Platform ("YEP"), a technology platform that enables partner companies to utilize Yirendai's data acquisition, anti-fraud technology, as well as customer acquisition capabilities, to help optimize industry's efficiency and enhance customer experience.

Yihan Fang of Yirendai commented, "Marketplace lending in China has been growing quite rapidly over the past few years.  However, the lack of credit awareness among consumers, insufficient bureau data and weak credit infrastructure, coupled with an increase of organized fraud, have led to high costs of customer acquisition, anti-fraud operation, and risk management. In the past four years, Yirendai has heavily invested in its technology and built advanced digital capabilities for data collection, anti-fraud intelligence, and online customer acquisition. Today we are sharing these capabilities with our partner companies through YEP which enable them to better serve their customers and manage risks more effectively. With more partners using YEP, together we can better fight organized fraud, lower the costs, and eventually give consumers a much better experience."

Anju Patwardhan, Senior Partner of CreditEase Fintech Investment Fund and member of Investment Committee delivered a keynote speech on financial inclusion issues for the middle class and also discussed the latest trends in fintech globally. CreditEase Fintech Investment Fund, launched in December 2015, is a venture fund investing in growth-stage fintech companies globally. The Fund has an equivalent of USD 1 billion in total committed capital. The Fund has been ramping up its investments since middle of 2016 with overseas investments including Trumid, an electronic bond trading platform; Circle, a blockchain-based payment application; Tradeshift, a cloud-based buyer-supplier network and WeConvene, an online corporate access web platform. The Fund has also formed strategic partnerships with global leading venture capital investors in the United States and other countries to identify investment opportunities. The Fund has team members based in Hong Kong, San Francisco, London, Beijing and Melbourne. CreditEase Fund of Funds also helps its wealth management customers deploy billions of dollars each year through various Venture Capital firms, Private Equity firms and hedge funds globally.

In a fund management panel discussion, Mr. Mikael Nabati of CreditEase OPCF provided an overview of the fund's structure and investment strategies and discussed the fund's key differentiation and core competence in data analytics, distribution capabilities, and strategic partnerships with other fintech companies.

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About CreditEase

CreditEase is a leading FinTech company in China, specializing in small business and consumer lending as well as wealth management for high net worth and mass affluent investors. It is a Standing Committee member of China's Internet Finance Industry Association and Chairman of Beijing Marketplace Lending Association. Its majority owned subsidiary Yirendai (NYSE: YRD), an online consumer finance marketplace, is listed on the New York Stock Exchange.

About Yirendai

Yirendai (NYSE: YRD) is a leading online digital consumer financial service platform in China.  Established in 2012, the company has built proprietary technologies by intelligently using variety of data and machine learning techniques to power mobile loan app, credit decisions and underwriting, customer acquisition and services. Yirendai has provided more than $5B USD credit to consumers through its advanced online credit underwriting solution and helped close to 1 million individual investors to invest in high quality loans. Yirendai (NYSE: YRD) is the first publicly listed fintech company from China.

About CreditEase Fintech Investment Fund

Founded in December 2015, CreditEase Fintech Investment Fund is a venture fund investing in growth-stage fintech companies in China and the global markets. CreditEase Fintech Investment Fund has an equivalent of USD1 billion in total committed capital.  The fund has formed strategic partnerships with global leading venture capital investors to discover opportunities in five sub-segments within the domain of Fintech: Lending, Payment, Personal Finance/Wealth management, Enterprise Solutions and Insurance.

About CreditEase Offshore Private Credit Fund

Launched in late 2015, CreditEase Offshore Private Credit Fund ("OPCF") has total assets under management of US$ 80 million, and focuses on high quality private credits including consumer and SME loans across North America, Europe and Asia Pacific. Headquartered in Singapore, with team members based in the UK, Australia, Beijing, Hong Kong, and New York, OPCF is the first Chinese offshore fund to invest in loans issued by Western platforms. 

SOURCE CreditEase