FinVolution's Philippine Subsidiary Cooperates with Union Bank of the Philippines, Accelerating Financial Inclusion
SHANGHAI, April 24, 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 UnionBank of the Philippines (UnionBank), a digital bank dedicated to embracing technological innovations to empower its customers. Under the terms of the agreement, UnionBank will provide Juanhand with a funding facility of approximately 45 million pesos, accelerating financial inclusion for Juanhand users.
This agreement further strengthens FinVolution's service offerings in the Philippines and advances the Company's mission of connecting underserved borrowers with financial institutions, while also serving as an opportunity to explore deeper future cooperation.
Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution Group, commented, "We are honored to be UnionBank's first fintech partner to be granted a credit facility. Guided by our effective Local Focus, Global Outlook strategy and commitment to improving financial services through technology, we will continue to innovate, educate, enhance user experience, and expand our customer base in all markets we operate while improving efficiency across all our operations. We are confident that new partnerships like this, will empower FinVolution to replicate our success in China and Indonesia throughout the Philippines and other international markets, bringing our diverse financial solutions to more customers and driving the rapid growth of the fintech industry 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: ir@xinye.com
Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
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SOURCE FinVolution Group
