PINTEC Partners with China UMS to Enable Efficient Financing for Small and Micro-sized Enterprises
BEIJING, March 15, 2019
BEIJING, March 15, 2019 /PRNewswire/ -- Pintec Technology Holdings Ltd. ("PINTEC"; NASDAQ: PT), a leading independent technology platform enabling financial services in China, today announced a partnership with China UnionPay Merchant Services Co., Ltd. ("China UMS") to develop customized and efficient digital lending solutions to serve small and micro-sized enterprises.
Based on its mature digital lending technologies for small and micro-sized enterprises and deep understanding of micro-lending business, PINTEC will cooperate with the China UMS' inclusive finance service platform "UMS Richer" to provide merchants on the platform with convenient and efficient financing services. PINTEC will apply its big data and artificial intelligence technologies to realize real-time credit decisioning and bring the entire lending process online, including application, assessment, approval and signing contracts.
The partnership is based on PINTEC's "SaaS+" ("SaaS Plus") service platform. With this platform, PINTEC can not only help its licensed financial organizations develop digital retail banking systems, but also provide value-added services including customer acquisition, data analysis, credit assessment, modeling tools and joint operation.
Based on advanced AI and big data technologies, PINTEC has developed digital lending solutions for small and micro-sized enterprises in various ecosystems, such as payment ecosystem, e-commerce platform, and taxation ecosystem, accumulating rich experience in evaluating these enterprises and business owners.
About China UMS
Established in December 2002, China UMS is held by China UnionPay and specialized in the construction of bankcard acceptance market and provision of integrated payment services. By the end of January 2019, China UMS had set up branch offices in all of China's provincial-level administrative regions (except Taiwan), and operated a market network which covers 337 cities at the prefecture-level and above with a 100% market coverage. With 8.28 million contracted merchants, 9.24 million POS terminals, 32,000 ATMs and 714,000 self-service terminals covering groceries and supermarkets, catering, air travel, tax finance, e-commerce and logistics and medical services, China UMS has become the largest bankcard acquiring and professional service supplier in China.
"UMS Richer" inclusive finance service platform is a one-stop open finance service platform by China UMS connecting financial service providers and users. Products include wealth management products such as current wealth management, regular wealth management, Internet gold, and securities account opening, financing products such as POS loan, joint credit card, consumer loan, financial leasing and auto finance, and life service products such as credit card application and payment, invoice by code scanning, car insurance and digital wallet.
PINTEC is a leading independent technology platform enabling financial services in China. With its mission to "Power the Future of Finance", PINTEC aims to advance financial services by providing customizable and modular fintech solutions to its financial and business partners. In fields such as online travel, e-commerce, telecommunications, online education, SaaS Platforms, financial technology, internet search, and online classifieds and listings, PINTEC enables financial services for institutional partners with point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions. PINTEC's services include: consulting services, SaaS technology services and other value-added services. PINTEC has cooperated with a number of business partners and financial partners, including without limitation Xiaomi, Qunar, Ctrip, China Telecom BestPay, Vip.com, shouqianba.com, Minsheng Securities, Orient Securities, Yunnan Trust, Guoyuan Securities, China National Investment & Guaranty Corporation, Fullerton Financial Holdings. PINTEC has launched two joint ventures to serve the Southeast Asian market: Avatec.ai (S) Pte. Ltd, formed in 2018 to offer credit assessment services and solutions, while PIVOT Fintech Pte. Ltd ("PIVOT"), formed in 2017 to provide robo-advisory services. On October 25, 2018, PINTEC was officially listed on the Nasdaq Global Market with American depositary shares trading under the symbol "PT".
For more information, please visit www.pintec.com
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