FinVolution Group’s Subsidiary Receive Approval to Connect to The People’s Bank of China Credit Reference Center

FinVolution Group (formerly known as “PPDAI,” or the “Company”) (NYSE: FINV), a leading fintech platform in China, today announced the People’s Bank of China (PBOC) has approved the Company’s online micro-lending subsidiary to be connected to the PBOC Credit Reference Center, which will allow the subsidiary to access and update borrowers’ credit records to the Credit Reference Center.

Mr. Feng Zhang, Co-Chief Executive Officer of the Company commented, “We are excited to align ourselves with the PBOC Credit Reference Center, which will enhance our risk assessment capabilities and also contribute to the strengthening of the country’s credit infrastructure. Together with the access to Baihang Credit and the National Internet Finance Association’s credit information system, and with our advanced technology capabilities, we are well equipped to effectively manage credit risk and capture the opportunities in China’s consumer finance sector.”

SOURCE FinVolution Group