BEIJING, Nov. 12, 2018 /PRNewswire/ -- Hexindai Inc.
(NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer
lending marketplace in China,
announced that its custodian bank Jiangxi Bank (01916.HK) has
passed its compliance evaluation by the National Internet Finance
Association of China (NIFA).
As required by government regulations on the peer-to-peer
lending (P2P) industry, all online P2P lending platforms in
China must have a custodian bank
to manage funds from borrowers and lenders to ensure fund safety
and avoid the misappropriation of funds. This is a prerequisite for
online P2P lending platforms to file for registration.
Jiangxi Bank has been Hexindai's custodian bank since
January 2017, when the company
successfully integrated its asset custody system with Jiangxi
Bank.
Based on standards set by regulators for the P2P lending fund
depository business and systems, the National Internet Finance
Association of China (NIFA)
started to evaluate related banks for their fund depository
business process and technology systems since the end of 2017.
Using both on-site inspections and off-site reviews, NIFA has been
evaluating the compliance and integrity of related banks over the
past year.
Jiangxi Bank is the only provincial city commercial bank in
Jiangxi Province, and was listed
on the Stock Exchange of Hong Kong
in June this year. In 2017, it was ranked by The Banker as 329th
among the "Top 1000 World Banks" in terms of tier-one capital as of
December 31, 2016, and 22nd among all
city commercial banks in China in
terms of total assets as of December 31,
2016. (1)
(1) According to
Jiangxi Bank's official website:
http://www.jx-bank.com/nccbank/zh_CN/aboutUs/gywx/6245.html.
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About Hexindai Inc.
Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company") is a
fast-growing consumer lending marketplace based in Beijing, China facilitating loans to meet the
increasing consumption demand of the emerging middle class in
China. Hexindai provides borrowers
with convenient and ready access to credit through its online
marketplace. The Company offers borrowers a wide range of products
designed based on customer segmentation data and tailored to the
specific needs of the emerging middle class in China by matching them with investors seeking
various types of investment products with appropriate risk levels
and risk-adjusted returns. Hexindai's strong online and offline
user acquisition capabilities combined with an online platform with
extensive offline networks, an advanced risk management system, and
strong strategic cooperative relationships with a custodian bank
and an insurance company to safeguard investments, allows the
Company to generate higher customer satisfaction, reliance, and
realize faster growth in China.
For investor inquiries, please contact:
Hexindai
Ms. Daisy Wang
Tel: +86-10-5380-6196
Email: ir@hexindai.com
ICR Inc.
Edmond Lococo,
Tel: +86 10 6583-7510
Email: Edmond.Lococo@icrinc.com
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SOURCE Hexindai Inc.