WeLab’s mission is to innovate traditional credit services in order to better serve consumers with a cheaper, faster and more hassle-free way of borrowing money.

WeLab’s lending platforms are powered by WeDefend, the company’s proprietary risk management technology, which combines machine learning, big data technologies, and unstructured data to deliver a streamlined risk management and customer experience.

The company acts as a platform for users to apply for credit using their mobile phones.

WeLab is also working in cooperation with many financial services institutions, including banks and consumer finance companies, to help improve access to financial services for young people.