Technology is Transforming Chinas Consumer Finance Market, Lexin Tells LendIt Fintech USA
Summary
While Chinas consumer finance market remains significantly underpenetrated, such innovations in financial technology, and the expanding use of installment payments, are making credit a way of life, Liu told LendIt Fintech.To tap this opportunity, and meet the consumer finance needs of this underserved segment, Lexin launched its Fenqile platform in 2013, part of an efficiency revolution in China driven by financial technology.Lexin captures this sweet spot of the China online consumer finance market by leveraging the tremendous opportunity in loans to educated young adults, who represent balance between risk and return, Liu said.The expansion of consumer finance in China is being driven by technology: Artificial Intelligence, Big Data, Cloud Computing, and Blockchain, Liu told LendIt Fintech.Lexin is a Silver sponsor of LendIt Fintech USA 2018, the worlds leading event in financial services innovation, which is being held at Moscone West in San Francisco from April 9 to 11.