SHANGHAI, Oct. 29,
2024 /PRNewswire/ -- FinVolution Group
("FinVolution," or the "Company") (NYSE: FINV), a leading fintech
platform, today announced that its Indonesian financial
application, AdaKami, has entered into a strategic funding
agreement with PT Super Bank Indonesia, a leading digital-focused
bank in Indonesia.
Under the terms of the agreement, Superbank will provide AdaKami
with a funding facility of 500.0 billion
Rupiah (approximately US$32.0
million). This funding arrangement highlights AdaKami's
recognition by a leading local bank following its successful
transition to serving better-quality borrowers. With this
agreement, Superbank will become AdaKami's strong funding
partner in Indonesia, validating
Adakami's successful strategy of transition to better-quality
borrowers. Currently, AdaKami has established cooperation with
multiple lenders including Superbank, Seabank, Bank Jago, Bank
Permata, OCBC NISP among others.
Mr. Tiezheng Li, Vice Chairman
and Chief Executive Officer of FinVolution Group, commented, "We
are proud to collaborate with Superbank to serve our growing
customer base in Indonesia. With
our transition to better-quality borrowers, we continue to attract
reputable partners in the region, strengthening our reputation
while diversifying our funding sources and improving our funding
costs. By expanding our footprint and strengthening our local
relationships, we are steadily advancing our mission of promoting
financial inclusion while growing our business."
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
accumulated in-depth experience in the core areas of credit risk
assessment, fraud detection, big data and artificial
intelligence. The Company's platforms, empowered by proprietary
cutting-edge technologies, feature a highly automated loan
transaction process, which enables a superior user experience. As
of June 30, 2024, the Company had
over 191.3 million cumulative registered users across China, Indonesia and the
Philippines.
About PT Super Bank Indonesia
Superbank, formerly known as PT Bank Fama International, is a
bank with digital services in Indonesia with over 2 million customers as of
October 2024. Founded in Bandung in
1993, Superbank entered a new era of growth joining the Emtek Group
in 2021, followed by Grab and Singtel in early 2022, and KakaoBank
in 2023 as part of the consortium. With a mission to expand credit
access for retail customers and MSMEs, Superbank empowers its users
through innovative solutions and strong collaborations within one
of the largest ecosystems in the industry. Superbank's commitment
to security is evidenced by its ISO 27001 certification, ensuring
international standards in information security.
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