Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Monday it has formed a partnership with Best Wonder Co., Ltd., a SaaS platform for business E-tax and digital invoice services, to develop digital lending solutions to support small and micro-sized enterprises.
According to PINTEC, the collaboration will use business E-tax and related invoice data to develop digital lending solutions that draw from PINTEC’s credit assessment technologies based on artificial intelligence and big data, and Best Wonder’s experience in taxation services. The company noted:
“This solution will enable commercial banks, non-banking financial companies, and supply chain financial institutions, to provide credit services to small and micro-sized enterprises with digital decision engine and strengthened risk management through the whole process of lending services.”
While sharing more details about the partnership, William Wei, founder and CEO of PINTEC, stated:
“The key challenge of lending services for small and micro-sized enterprises lies in effective and efficient risk management. The partnership will combine our advantages in risk management technologies with Best Wonder’s massive amounts of E-tax and digital invoice data to develop an efficient digital lending solution to effectively support the growth of small and micro-sized enterprises. This solution will provide financial institutions with data-driven decision engine, a digital early warning system, risk assessment modeling, and other value-added services.”
Chen Jie, CEO of Best Wonder, went on to addL
“Digitalization of invoices is an irreversible trend in China. The partnership with PINTEC will leverage our enormous E-tax and invoice data to empower financial institutions to better serve small and micro-sized enterprises in China.”