SHANGHAI, Feb. 26,
2025 /PRNewswire/ -- FinVolution Group
("FinVolution," or the "Company") (NYSE: FINV), a leading fintech
platform, today announced that its Philippine financial
application, JuanHand, has entered into a credit facility agreement
with Security Bank Corporation (Security Bank), one of the Philippines' leading universal banks.
Under this agreement, JuanHand will become Security Bank's first
fintech lending partner, demonstrating JuanHand's growing regional
recognition following its partnerships with Maya Bank, Union Bank and SeaBank. The
partnership will enhance FinVolution's service offerings in
the Philippines and advance the
Company's mission of connecting underserved borrowers with
financial institutions.
JuanHand will leverage Security Bank's credit facility to
empower individuals, families, and businesses with quick and
accessible financial solutions. Under the terms of the agreement,
JuanHand users may apply for unsecured loans using only their basic
personal information and one valid ID, eliminating the
time-consuming process of gathering proof of income or billing
address. JuanHand utilizes FinVolution's proprietary AI-powered
screening technology to rapidly assess borrowers' creditworthiness,
enabling loan approval and disbursal of funds under 5 minutes.
Mr. Tiezheng Li, Vice Chairman
and Chief Executive Officer of FinVolution Group, commented, "We
are proud to share that we are the first platform to introduce the
loan facilitation model with local financial institutions in the
country. Our partnership with Security Bank will create a more
financially inclusive environment and increase credit accessibility
for underserved customers throughout the region. Guided by our
effective Local Excellence, Global Outlook strategy, FinVolution
remains committed to improving financial services and elevating
user experience for a growing customer base in the markets in which
we operate. By expanding our footprint and strengthening our local
relationships, we are well positioned to capture Southeast Asia's enormous opportunities."
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 September 30, 2024, the Company
had 199.2 million cumulative registered users across China, Indonesia and the
Philippines.
About Security Bank
Security Bank Corporation is one of the Philippines' leading universal banks
serving retail, commercial, corporate and institutional clients.
Established on June 18, 1951, it was
the first private and Filipino-controlled bank of the post-World
War II period. Security Bank was publicly-listed with the
Philippine Stock Exchange (PSE: SECB) in 1995. Security Bank's
major businesses include retail, commercial and corporate banking,
and financial markets. It offers a wide range of services including
financing, leasing, foreign exchange, stock brokerage, investment
banking and asset management through its subsidiaries (as of
December 31, 2017): SB Cards
Corporation, SB Capital Investment Corporation, SB Equities, Inc.,
SB Forex, Inc., SB Rental Corporation, and SBM Leasing, Inc., a
joint venture with Marubeni Corporation of Japan, and SB Finance Company, Inc. (formerly
Security Bank Savings).
For investor and media inquiries, please contact:
In China:
FinVolution Group
Head of Capital Markets
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
View original
content:https://www.prnewswire.com/news-releases/finvolutions-philippine-subsidiary-partners-with-security-bank-to-drive-financial-inclusion-302385661.html
SOURCE FinVolution Group
