Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Monday it has acquired Australian credit risk solution provider, InfraRisk. PINTEC reported the acquisition represents a new milestone in its international expansion.
“With InfraRisk as a wholly-owned unit, PINTEC will further enhance its capability to serve financial institutions through its “SaaS Plus” model, and explore new market opportunities in developed countries.”
According to PINTEC, InfraRisk has more than 10 years of experience in providing services for financial institutions in Australia, New Zealand, the United Kingdom, Ireland, Spain, Asia, and the Middle East. The company has been providing long-term services, primarily commercial and retail origination systems, to multiple banks and financial institutions including the big four banks in Australia and Toyota Finance.
Speaking about the acquisition, William Wei, Founder and CEO of PINTEC, stated:
“With rich experience in providing products and services for financial institutions and a well-established reputation and brand, InfraRisk will become a strong support for PINTEC’s overseas business expansion. In the future, PINTEC and InfraRisk will jointly develop new products and explore new markets to serve more financial institutions.”
Nicholas Davies, Founder and CEO of InfraRisk, went on to add:
“PINTEC has world-leading digital lending technologies, best risk management practice and mature product operation experience, which is complementary to InfraRisk’s leading credit risk management system. With the support from PINTEC, InfraRisk will leverage artificial intelligence and big data technologies to upgrade our products and services, and drive future growth by providing financial institutions with comprehensive fintech solutions.”