China Lending Corporation (NASDAQ: CLDC), a non-bank financial corporation servicing micro, small and medium-sized enterprises in China, announced earlier this week it has entered into a five-year strategic partnership agreement with Rui Xin Insurance Technology (Ningbo) Co., Ltd, a fintech company providing comprehensive insurance solutions.
China Lending Corp reported that through the partnership, each party expects to jointly grow their businesses and help each other to expand their customer base by leveraging each other’s unique and complementary strength as well as resource in financial technology, the consumer finance market and the insurance industry.
“China Lending will work with Rui Xin to develop its own consumer financial platform. In collaboration with Rui Xin and its partners, the Company expects to provide value-added consumer financial services to insurance consumers of Rui Xin and its partners. Benefiting from the anticipated size of the business and the good credit record of insurance consumers, China Lending will improve its asset quality and maintain sustainable business growth through the partnership.”
China Lending noted that also through the partnership it and Rui Xin will also explore collaboration opportunities in areas such as insurance consumer acquisition, development of insurance products, expansion of insurance business, and customization of consumer financial solutions. Jingping Li, Co-Founder and CEO of China Lending, stated:
“Through our partnership with Rui Xin, we will develop a customer base for consumer financial services and serve customers with long-term financing needs. We will also benefit from assisting Rui Xin and its partners with the expansion of insurance business. Rui Xin and its partners’ capabilities and experience in applying advanced financial technologies will enhance our risk management capability and help us to achieve innovations of financial products to better satisfy diversified customer demands.”
Yanliang Zhuang, Vice President of Rui Xin, added:
“We are excited to collaborate with China Lending. We believe the partnership will create synergies for both parties in technological and commercial areas. Going forward, we will continue to promote the integration of our resources, explore potential business opportunities, and expand our customer bases to boost the business growth of both parties.”