AP NEWS
Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

360 Finance Takes Leadership Role in Establishing Anti-Fraud Alliance for the China Fintech Industry

November 26, 2019 GMT

SHANGHAI, Nov. 26, 2019 /PRNewswire/ -- 360 Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”), a leading digital consumer finance platform, announced that it is taking a leadership role in establishing an anti-fraud alliance for fintech companies in China. 360 Finance and the National Internet Finance Association of China (NIFA) made the announcement at a co-sponsored conference on Internet Financial Fraud Risk Prevention and Consumer Rights Protection held in Beijing, China on November 25, 2019.

The conference was attended by senior leaders from the People’s Bank of China, China Securities Regulatory Commission, China Banking Regulatory Commission, China Insurance Regulatory Commission and other respected institutions, as well as senior representatives from some of China’s leading fintech companies.

Shuhai Wen, Vice President of 360 Finance, commented, “As a co-sponsor, we are pleased that we are playing an integral role in such an important conference for the industry. In October this year, there was explosive growth in internet financial fraud. In order to deal with this issue, 360 Finance, leveraging the wealth of experience accumulated by 360 Group over the years in the fields of security and big data, established an internet crime threat intelligence monitoring platform. The platform has been instrumental in helping regulatory authorities to crack down on cyber fraud. We have also developed a system that will help educate the public on preventing internet financial fraud and also issues reminders to user before purchasing financial products online.”

“Despite our achievements, it is difficult for just one fintech platform to end internet financial fraud. In China, internet fraud is not just an industry problem, but rather a social problem and so requires a more broad-based approach that gets everyone in the industry involved. China’s fintech companies should work together in combating this problem by joining the anti-fraud alliance. Through this alliance, fintech companies can share and integrate their data through 360 Finance’s internet crime threat intelligence monitoring platform so that everyone can efficiently track and reduce online financial fraud.”

About 360 Finance

360 Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”) is a leading digital consumer finance platform and the finance partner of the 360 Group. The Company provides tailored online consumer finance products to prime, underserved borrowers funded primarily by its funding partners. The Company’s proprietary technology platform enables a unique user experience supported by resolute risk management. When coupled with its partnership with 360 Group, the Company’s technology translates to a meaningful borrower acquisition, borrower retention and funding advantage, supporting the rapid growth and scaling of its business.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company’s goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China; the demand for and market acceptance of its marketplace’s products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law.

For more information, please contact:

360 Finance
Mr. Matthew Li
E-mail: ir@360jinrong.net

Christensen

In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com

View original content: http://www.prnewswire.com/news-releases/360-finance-takes-leadership-role-in-establishing-anti-fraud-alliance-for-the-china-fintech-industry-300965295.html

SOURCE 360 Finance, Inc.