FinVolution's Philippine Subsidiary Cooperates with SeaBank Philippines, Propelling Regional Growth

News provided by

Mar 28, 2024, 05:30 ET

SHANGHAI, March 28, 2024 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced that its Philippines financial application, Juanhand, has entered into a strategic cooperation agreement with SeaBank Philippines Bank ("SeaBank"), an innovative bank dedicated to bettering the lives of individuals and businesses in the region with financial services through technology. Under the terms of the agreement, SeaBank will provide Juanhand with a funding facility of approximately 300 million pesos, broadening Juanhand users' access to financial services.

This agreement expands FinVolution's international service offerings and advances the Company's mission of connecting underserved borrowers with financial institutions. It also marks a milestone as one of the first cross-institution loan facilitation channel financing structures in the Philippines.

Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution Group, commented, "FinVolution is proud to support the Philippines' economic growth through technology and financial inclusion. Driven by our Local Focus, Global Outlook strategy, Juanhand's partnership with SeaBank will empower underserved customers throughout the country with faster, simpler and more convenient banking services.

"With FinVolution's commitment to financial inclusion firmly in mind, we will continue to invent and deploy creative technologies, expanding our customer base and elevating user experience while improving efficiency across our operations. We are confident that as we forge new partnerships and deliver enhanced financial solutions to more customers, we will replicate our success in China and Indonesia in the Philippines and other international markets, propelling the fintech industry's rapid growth in Southeast Asia and beyond," concluded Mr. Li.

About FinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition in China and the international markets connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platform, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2023, the Company had over 180.2 million cumulative registered users across China, Indonesia and the Philippines.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan, IRC
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: [email protected]

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

SOURCE FinVolution Group