BEIJING, Nov. 06, 2017 (GLOBE NEWSWIRE) -- JD Finance, a leading fintech company in China, today announced the launch of JD Financial Cloud. The new platform uniquely combines advanced technology and big data to offer “Fintech as a Service,” a new approach that will help financial institutions solve problems and reduce costs while boosting their productivity and competitiveness.

Leveraging three core advantages of JD Finance – its troves of big data from trillions of transactions, its extensive technology experience, and its deep understanding of myriad financial scenarios throughout the supply chain in both urban and rural areas in China – JD Financial Cloud provides financial services organizations with data-driven insights to inform and enhance precision marketing and risk management, among other capabilities.

Where precision marketing is concerned, JD Finance’s “Jingdong Laike,” analyzes a massive base of user tags based on online shopping and mobile usage patterns as well as payment history and credit risk to offer insights that can boost response rates by 25 percent while reducing customer acquisition costs by 20 percent.  

Furthermore, leveraging AI and big data to recognize and analyze patterns in JD Finance’s comprehensive dataset that includes 30,000+ risk control variables, 300m+ user credit evaluations, 500+ models and 5,000 risk strategies can help institutions better evaluate credit risk.

“JD Financial Cloud gives financial institutions unprecedented access to user and financial insights from a full range of activities that goes well beyond the data they’d be able to accumulate by relying only on their own platforms and users,” said Cao Peng, Vice President of JD Finance and general manager of technology and research.  “It goes a step further in equipping them with the tools to analyze this data, enabling increased precision to provide personalized solutions that are more suited to individual users and can mitigate risk for the institutions. JD Finance has already partnered with over 400 banks, 100 funds and 60 insurance companies and we look forward to continuing to improve our technology to serve our existing partners and build new partnerships.”

The announcement was made at JD Finance’s JD Discovery (JDD) event, which attracted global leaders from the technology industry, the financial industry, academia, and investors to discuss critical issues facing the financial services industry and how to apply technological solutions to address these problems.

JDD also served as a launch point for JD Finance’s inaugural JDD Global Data Challenge, a call for rising stars in AI worldwide to collaborate on innovative, technology-driven solutions to real-world problems. The competition kicks off today and runs through December 21, beginning with online qualification rounds and culminating in an offline final round challenge in the United States. Winners are eligible to win cash awards as well as priority investment opportunities from JD Finance or its affiliates.

About JD Finance

Established in late 2013, JD Finance is one of China’s leading fintech companies. The company has 10 major business lines: supply chain finance, consumer finance, crowdfunding, wealth management, payments, insurance, securities, rural finance, financial technology and an international business line. As of June 30, 2017, JD Finance has served more than 8,000,000 corporate clients and 360 million individual consumers. JD Finance leverages its big data and industry-leading technology to provide comprehensive and modularized services to various financial institutions and help the industry to increase revenues, improve efficiency and reduce costs. In June 2017, JD Finance spun off from JD.com to become an independent entity.

Contact

Yishan Lu

JD Finance

luyishan@jd.com

+86 010 8918 5860