LexinFintech wins Global Finance Award for Outstanding Financial Innovator
NASDAQ-listed LexinFintech, a leading online consumption and consumer finance platform for new generation consumers in China, has been named as the only Chinese winner in the Global Finance Magazine’s 2021 Innovators Awards. The Company won for Outstanding Financial Innovators-Fintechs – in the Asia Pacific region, for its technological innovations in the financial services industry.
Lexin deployed innovative technologies such as artificial intelligence and big data throughout every step of its transaction processes, including customer acquisition, risk management, fund matching, and operations, to enhance operational efficiency.
For risk management, Lexin established AI capabilities in forecasting users’ life cycle delinquencies to reduce risks and to improve efficiency in loan issuance, transaction processing, and anti-fraud, etc. Its automatic attribution feature significantly enhances the efficiency of risk management by diagnosing the causes of risks in real-time, sparing analysts the time and effort for data collation.
Lexin’s asset quality continues to improve thanks to its technological innovations.
Aside from its own risk management purpose, Lexin is also leveraging its over seven years of solid internet product experience, operating capabilities, and financial technologies to help financial institutions tackle challenges such as traffic acquisition, developing new operating models, and improving efficiency in risk management. Lexin’s risk profiling and strategy optimizing services can effectively identify the quality portion of denied loan applicants and help financial institutions improve loan-issuance rates by 20-30 percent while maintaining stable asset quality.
The Innovators Awards are intended to shine a spotlight on organizations that regularly identify new paths and design new tools in finance, and all selections were made by the editorial board of Global Finance with the input of reporters who are experts on the functions being served by these innovators, according to Global Finance.