Chinese fintech company join hands with UOB in exploring Southeast Asian market

Source: Xinhua| 2018-04-16 13:36:41|Editor: Liangyu
Video PlayerClose

SINGAPORE, April 16 (Xinhua) -- Pintec Technology Holdings Limited (PINTEC), a Chinese fintech company, and Singapore's United Overseas Bank (UOB) announced on Monday the establishment of their joint venture, which will launch its next-generation digital credit assessment solution in Southeast Asia.

The new company, named as Avatec.ai (S) Pte Ltd., aims to help banks and finance companies to be more efficient and more accurate when assessing credit quality of potential customers, including those who are new to credit, according to a press release from the two parent companies.

It said that the new company's credit assessment tool harnesses the power of artificial intelligence, machine learning and anti-fraud algorithms to determine an applicant's credit quality within seconds.

Dennis Tan, chief executive officer designate of Avatec, said the company's solution is not only useful to financial institutions, but also enable companies in sectors such as e-commerce, telecom, retail and travel to offer financial products such as point-of-sale financing, and personal and business loans quickly and efficiently.

Wei Wei, founder and CEO of PINTEC, said the partnership with UOB will help the Chinese fintech company to expand further into Southeast Asia, where a growing demand for fintech solutions arises as companies explore using technology to capture growth opportunities in the digital economy.

"Our collaboration with UOB, a leading bank in the region, will assist us with the expansion of our fintech solutions into Southeast Asia," he said, adding that the business expansion in the region is in line with the China-proposed Belt and Road Initiative.

UOB owns the majority stake of 60 percent in Avatec, and plans to invest up to 12 million Singapore dollars (about 9.14 million US dollars) in the joint venture over the next two years.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001371148061
国产无码在线观看免费在线,37pao国产成视频,日韩一区二区视频在线,国产国产人免费人成免费视频麻豆
日本一区喷水精品视频 | 亚洲欧美中文幕乱码在线 | 亚洲国产日韩欧美综合a | 亚洲精品视频在线看 | 中国国产激情一区 | 一久道免费高清日本视频 |