BANGKOK, Dec. 3, 2018 /PRNewswire/ -- 9F Inc. expedites its international business expansion into new territories as year-end fast approaches. On the afternoon of November 27, 9F International and Thailand's renowned listed financial company G Capital signed an official strategic cooperation memorandum in Bangkok. The two companies are to establish a consumer finance joint venture company, to which 9F International affords its advanced technology and FinTech solutions while G Capital manages local market operations to break into the market of inclusive finance in Thailand.
According to the memorandum, the joint venture company is to exploit the 9F's Fintech with 12 years of trial and error to deploy inclusive finance with cutting-edge technologies and solutions and combine it with G Capital's coverage of customers and channels accumulated for over a decade. The company pursues betterment of existing personal credit customer service for higher customer appeal. Online lending products are expected to be launched by April 2019 according to plan to provide 24/7 online consumer finance service to its Thai customers in line with the festivity of Songkran.
The joint venture company marks four major breakthroughs of overseas expansion of Chinese Fintech companies in Thailand. It is the first company characterized by comprehensive Fintech empowerment, the first to target at inclusive finance, the first to partner with a listed company in Thailand, and the first to employ joint venture as a means of business expansion.
As a well-known listed financial company in Thailand, G Capital has been prudent about its choice of partners overseas. At the signing ceremony, Mr. Spain, G Capital Managing Director, said without mincing his words that 9F International was chosen out of a myriad of Fintech companies from developed countries such as the UK and the US because of shared goals and values, one being to provide more inclusive financial services to the general public. Having stood the test of time for 12 years, 9F's stability and advanced nature have been widely recognized by the market thanks to its financial technology and industry experience.
JIN Zengxiao, vice president of 9F Inc. and CEO of 9F Onecard, said that G Capital is chosen as the partner in Thailand for its insight into the financial market in Thailand and research of online business models. Together with G Capital, 9F Inc. is to irrigate its advanced technologies and solutions to foster a healthy and sustainable development of inclusive finance in Thailand.
9F Inc., a pioneer of the Fintech industry founded in 2006, has abided by its creed of making finance simpler to promote inclusive finance in China. The company has persevered on tapping science and technology to empower inclusive finance and provide users with simple, efficient, choice and convenient financial services. It has cultivated a comprehensive layout of core businesses including consumer staging, smart wealth management and big data evaluation based on the development of Mobile Internet, Big Data technology and ecological chain, complementing traditional financial institutions with its own strengths to realize inclusive finance.
With over 68 million registered users, 9F Inc. made the official launch of "9F Technology" as a brand in 2018. The Inc.'s perennial accumulation of data and technology has laid a solid foundation for further advancement of digital finance, scenario-based ecological construction and technological innovation, providing for technology output overseas to facilitate development of local Fintech companies.
CEO of 9F International LIN Yanjun said: "Fintech companies bring more convenient financial services to the public and improve service efficiency. The same applies to areas where traditional finance is underdeveloped." Using Fintech as the bridge, the Inc. proactively exports state-of-the-art technologies overseas to provide convenient and efficient financial services for local customers. In Silicon Valley, Hong Kong and Southeast Asia, a "three-in-one" overseas financial service system has been established by 9F International. Bitpay and Wyre are technology companies have been invested in Silicon Valley. 9F Wealth and 9F Securities are the foothold establishment in Hong Kong. A headquarter has been set up in Singapore. Co-invested with SBI Inc. in Investree, an Indonesian financial company. Cooperation with G Capital this time is yet another instance of the 9F's technology output.
LIN Yanjun holds that real technological strength is essential for Chinese Fintech companies to truly "make it overseas". Innovation helps improve efficiency, reduce costs, and facilitate global cooperation, which in turns facilitates adaptation to foreign environments. After 12 years of steady development and technology accumulation, 9F is more capable of grasping customers' needs and effectuating Fintech empowerment overseas than ever.
China and Thailand are close neighbors, and the relations between the two countries have seen healthy and persistent development since it was first formally established in 1975. The Belt & Road Initiative is to bring more opportunities to the pragmatic cooperation between China and Thailand as well as more benefits to the people. 9F aspires to use Fintech as a bridge of friendship between the two countries to disseminate and implement inclusive finance.
