Shanghai, a global financial center and transport hub, has emerged as one of China’s fintech powerhouses in recent years, and the city’s tech scene is expected to further grow in new technology areas such as virtual reality, biometrics, big data-based risk management, blockchain and AI. These will be supported by increased government support, improved regulatory environment and implementation of Free Trade Zone policies.
As fintech thrives in Shanghai, the following are 12 fintech companies from the city you should know:
Founded in 2012, Dianrong operates an online intermediary lending services platform, which helps individuals and companies obtain funding through the Internet. Dianrong leverages on its tech capabilities to reduce the costs of marketing, operations, services and post-loan management, which enables it to provide loan products with lower interest rates.
Dianrong is one of 48 managing directors of the National Internet Finance Association of China (NIFA), which was established in 2016. The company has raised US$509 million in disclosed funding so far.
Shanghai Lujiazui International Financial Asset Exchange (Lufax) is an online financial management platform. The company aims to develop a solid risk management system that provides financial asset trading information and consultation services for financial institutions, corporates and investors.
Since its inception in 2012, the flagship product Lu.com has developed into an integrated financial platform that provides services related to fixed and floating income products. This includes insurance, online lending, publicly/privately offered funds and cash management products. Lufax is said to be worth US$18.5 billion, according to CB Insights.
Founded in 2016, Onchain is one of China’s leading blockchain technology companies. Onchain leads several blockchain projects and provides customized blockchain solutions for financial institutions and other corporates.
Onchain has successfully cooperated with a number of core financial institutions, banks and brokerage companies, and in 2017, the company released the Ontology Network, a next generation blockchain network for distributed trust.
Founded in 2016, Riskstorm is an AI-based business information analysis and risk control system that encompasses business, litigation, taxation, administrative penalties, investment and financing, changes in senior management and news events.
Riskstorm’s clientele includes a number of Fortune 500 companies, financial companies, conglomerates and government agencies, which use the information for corporate due diligence, risk control, compliance audits, judicial enquiries, industry research and to screen for business and investment opportunities.
Founded in 2006, ChinaPnR is an integrated financial services group in China that focuses on providing payments, financial management, consumer finance and other financial services to small and micro enterprises and individual investors.
ChinaPnR offers customized solutions in areas such as aviation, funds, online loans, private equity, logistics, health and education. It is an executive director of the China Payment and Settlement Association and director of the NIFA.
Founded in 2013, Juxinli is a fintech services platform powered by big data technologies. It helps financial institutions collect, integrate and analyze information obtained from the Internet from data sources that include social networks, e-commerce websites, mobile carriers, public reserve funds, online banking, utilities, airline websites, and others.
Juxinli’s products include Mifeng, Miguan, Xiaomifen and Joint Modelling, which help to assess the fraud and credit risks of potential borrowers.
Founded in 2015, iPayLinks aims to facilitate cross-border payments by providing one-stop online solutions such as international credit cards and localized payments. iPayLinks focuses on technology development and product innovation to provide cross-border payment solutions to its domestic and foreign customers.
Established in Shanghai, iPayLinks has branches in New York, London, Hong Kong and Kuala Lumpur.
Founded in 2015, Ice Kredit uses AI technology to provide third-party big data risk management services for financial institutions. Ice Kcredit strives to improve the efficiency and revenue-generating capabilities of financial institutions. In addition, it aims to better meet the credit needs of SMEs and those in the long tail.
Ice Kredit cooperates with a number of traditional financial institutions and Internet financing platforms in China. The company is headquartered in Shanghai and has branches in Nanjing, Shenzhen, Beijing, Changzhou, Chengdu and Los Angeles.
Founded in 2009, ChinaScope applies big data technologies and methodologies to financial applications. Its main focus is to help clients generate insights from complex data in order to facilitate fast-decision making.
ChinaScope is built upon a powerful big data engine that pools information from markets and industries around the globe. Its core data engine powers a variety of products and services that span across indexes, quantitative analysis, data feeds, and mobile apps.
ChinaScope’s clientele includes world’s top financial institutions and approximately 800,000 retail investors.
Founded in 2009, RiskRaider is an enterprise credit reference agency that provides big data risk control services. The company specializes in data mining, semantic analysis, machine learning and quantitative modelling for enterprise risk, rating and warning.
RiskRaider provides comprehensive solutions for client credit investigation, anti-fraud, transmission risk and systemic risk prevention, post-transaction dynamic risk monitoring and intelligent warning.
Suan Hua Zheng Xin
Founded in 2014, Suan Hua Zheng Xin is a retail credit risk management services provider. The company consists of a group of personal credit, risk management and data analytics experts with experience in anti-fraud, non-banking credits, conventional credit ratings and credit ratings via big data analytics.
Suan Hua Zheng Xin has also established a credit risk prevention alliance, which provides comprehensive risk management solutions throughout a credit lifecycle via the use of multi-dimensional data mining.
Founded in 2013, DataYes offers a financial service platform that helps retail investors access financial information. The company’s intelligent investment management platform caters to professional and retail investors alike. Through the use of innovative technologies and investment philosophies, the company aims to become a world-class financial services platform.
DataYes is headquartered in Shanghai and has branches in Beijing, Nanjing, Shenzhen and the Silicon Valley.
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