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SHENZHEN, China, Aug. 29, 2020 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin”) (NASDAQ: LX), a number one on-line consumption and shopper finance platform for educated younger professionals in China, has been awarded the Greatest AI and Innovation Lab Award in China by The Asian Banker, whose awards are seen as an undisputed benchmark measuring the efficiency of the perfect banks and fintech firms in Asia.
“Lexin’s AI Lab significantly enhanced the company’s operating efficiency and increased its profitability by providing automated artificial intelligence services throughout every step of its transaction processes. Both of its research and development (R&D) expense and R&D personnel as a percentage of total employee headcount have been maintained at levels that lead the industry,” The Asian Banker commented.
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Lexin’s R&D bills in 2019 reached RMB416 million, a 30% improve as in comparison with a 12 months earlier and accounted for 18% of the corporate’s whole working bills, representing one of many highest percentages within the business. One out of three workers at Lexin works for the corporate’s R&D and threat administration groups.
Lexin’s continued dedication to technological improvements has notably enhanced the corporate’s technological competitiveness. Lexin’s AI operation system, “Lingxi,” can remedy 97% of its buyer enquiries with out the necessity for any handbook intervention, considerably enhancing its person expertise the effectivity of customer support.
Lexin’s proprietary threat administration system, “Hawkeye,” can routinely course of 99.8% of latest prospects’ loan purposes with greater than 4,700 determination guidelines and over 15,900 information variables, making it attainable for Lexin’s prospects to finish a credit score software on the corporate’s APP inside minutes, and avoiding the necessity to submit important quantities of paperwork.
Lexin’s fund matching system, “Wormhole,” can then match the authorised loan requests with greater than 100 institutional funding companions in actual time with a hit price of 95%, permitting the corporate to deal with practically 1,000,000 transactions a day.
AI improvements and developments have enabled accelerated development for Lexin’s consumption ecosystem, which incorporates installment e-commerce platform Fenqile, membership consumption platform Le Card, and Lehua Card, a product enabling Lexin’s prospects to make use of their credit score strains in quite a few on-line and offline consumption situations.
Lexin additionally offers monetary establishments with fintech providers and retail retailers with shopper finance instruments and buyer administration providers. With these instruments and providers, the corporate combines shopper finance, membership providers, and fintech providers right into a single ecosystem.
As a part of its loan facilitation enterprise, Lexin’s income from revenue sharing credit score enterprise, which doesn’t require the corporate to tackle any monetary threat and has no leverage restrict thus permitting a fintech platform to completely unleash its loan originations capability, surged by 171% to $394 million and is predicted to account for 50% of the corporate’s enterprise quantity by the top of the 12 months.
That is the second time Lexin has received an Asian Banker Award. The corporate was additionally awarded the Greatest Lending Know-how Initiative, Software or Program in China in 2019.
The Asian Banker awards are typically seen by executives as one of the crucial rigorous, prestigious and clear monetary awards in Asia. Lexin was considered one of practically 400 candidates that The Asian Banker’s analysis group spent over three months reviewing and investigating earlier than making the ultimate determination. Earlier winners of the award embody world-renowned monetary establishments resembling Citigroup, Ant Monetary and ICBC.
About LexinFintech Holdings Ltd.
LexinFintech is a number one on-line consumption and shopper finance platform for educated younger professionals in China. It offers a spread of providers together with monetary expertise providers, membership advantages, and some extent redemption system by Fenqile ecommerce platform and Le Card membership platform. The corporate works with monetary establishments and each on-line and offline manufacturers and retailers to supply a complete consumption ecosystem catering to the wants of younger professionals in China. It makes use of superior applied sciences resembling large information, cloud computing and synthetic intelligence all through its providers and operations to raised serve its prospects.
For extra data, please go to http://ir.lexin.com.To comply with us on Twitter, please go to: https://twitter.com/LexinFintech.
For media inquiries, please contact: Limin Chen Tel: +86 (755) 3637-8888 ext. 6993 E-mail: liminchen@lexin.comSOURCE LexinFintech Holdings Ltd.
Associated Linkshttp://ir.lexin.com
Supply: LexinFintech Holdings Ltd.
