Tag Archives: FIN

PR Newswire

LAIX Inc. Announces Changes in Board and Committee Composition

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SHANGHAI, Sept. 19, 2020 — LAIX Inc. ("LAIX" or the "Company") (NYSE: LAIX), an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning, today announced that Mr. Christopher Ludwig Eisgruber, one of the Company’s independent directors, will cease to serve on the Company’s board of directors and its committees upon the expiration of his current term ending on September 30, 2020. Upon the effectiveness of Mr. Eisgruber’s departure, Ms. Min (Jenny) Zhang will be appointed as a member of the compensation committee and the chairperson of the nominating and corporate governance committee of the board of directors of the Company, replacing Mr. Christopher Ludwig Eisgruber. In addition, Dr. Li-Lan Cheng was re-elected to serve another two-year term as an independent director of the Company, effective September 30, 2020.

About LAIX Inc.

LAIX Inc. ("LAIX" or the "Company") is an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning. Its proprietary AI teacher utilizes cutting-edge deep learning and adaptive learning technologies, big data, well-established education pedagogies and the mobile internet. LAIX believes its innovative approach fundamentally transforms learning. LAIX provides its products and services on demand via its mobile apps, primarily its flagship "English Liulishuo" mobile app launched in 2013. On the Company’s platform, AI technologies are seamlessly integrated with diverse learning content incorporating well-established language learning pedagogies, gamified features and strong social elements to deliver an engaging, adaptive learning experience. LAIX provides a variety of courses inspired by a broad range of topics and culture themes to make English learning more interesting and is committed to offering a fun, interactive learning environment to motivate and engage its users.

For investor and media inquiries, please contact:

LAIX Inc.
Harry He
Investor Relations
Email: ir@laix.com

The Piacente Group Investor Relations
Brandi Piacente
Tel: +1-212-481-2050
Email: liulishuo@tpg-ir.com

Emilie Wu
Tel: +86-21-6039-8363
Email: liulishuo@tpg-ir.com

Related Links :

http://www.liulishuo.com

PR Newswire

The Third UNESCO Creative Cities Beijing Summit Highlights Creativity and Innovation

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BEIJING, Sept. 19, 2020 — The Third UNESCO Creative Cities Beijing Summit is held in Beijing from September 17-18, 2020. With the theme of "Creativity empowers cities, technology creates the future", the summit is co-hosted by the United Nations Educational, Scientific and Cultural Organization (UNESCO), Ministry of Education of the People’s Republic of China, People’s Government of Beijing Municipality, National Commission of the People’s Republic of China for UNESCO.

"Beijing, as the City of Design of UNESCO Creative Cities Network (UCCN), has set a good example of integrating the thousands of years of history and cutting-edge technology," the Director-General of UNESCO, Audrey Azoulay, remarked in her opening speech.

"The city serves as a special space for unity, cooperation, and innovation. The development of the city will determine the vision of our future society," added Audrey Azoulay.

During the summit, the e-publication of "UNESCO Creative Cities’ Response to the COVID-19" was globally launched. It collates best practices from member cities of UCCN around the world, leveraging the power of culture and creativity in response to COVID-19. The publication is now available in Chinese, English, French, and the Spanish version to be launched soon.

This summit includes a main forum and three panels. Entitled "Creativity and Innovation: A path to the cities of tomorrow," the main forum highlights on the digital economy and the importance of creativity and innovation as the driving force to build a more sustainable and resilient city in the future. Furthermore, the three panels emphasize three different topics on Creative Cities, Science, Technology and Creativity, as well as Inter-city Collaboration.

For more information on the summit, please visit here.

About UNESCO Creative Cities Network (UCCN)

The UCCN was created in 2004 to promote cooperation with and among cities that have identified creativity as a strategic factor for sustainable urban development. The 246 cities which currently make up this network work together towards a common objective: placing creativity and cultural industries at the heart of their development plans at the local level and cooperating actively at the international level.

PR Newswire

NetEase Announces ADS Ratio Change

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HANGZHOU, China, Sept. 18, 2020 — NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase” or the “Company”), one of China’s leading internet and online game services providers, today announced that it will change the ratio of its American depositary shares (“ADSs”), representing ordinary shares, from the current one (1) ADS for every twenty-five (25) ordinary shares to one (1) ADS for every five (5) ordinary shares.

From the perspective of an ADS holder, the ADS ratio change has the same effect as a five-for-one ADS split, and NetEase ADS holders at the close of business, New York time, on September 30, 2020 will be entitled to receive four additional ADSs for every ADS held, effective October 1, 2020 at the close of business. There will be no change to NetEase’s ordinary shares, and no action by ADS holders is required to effect the ratio change. In addition, existing ADSs will continue to be valid and will not have to be exchanged for new ADSs. 

The effect of the ratio change on the ADS trading price on the NASDAQ Global Select Market is expected to take place on October 2, 2020.

The register held by the Bank of New York Mellon, the depositary, will close for issuances and cancellations of ADSs on the close of business, New York time, on September 29, 2020 and is expected to reopen on October 6, 2020.

About NetEase, Inc.

As a leading internet technology company based in China, NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase”) is dedicated to providing premium online services centered around innovative and diverse content, community, communication and commerce. NetEase develops and operates some of China’s most popular mobile and PC games. In more recent years, NetEase has expanded into international markets including Japan and North America. In addition to its self-developed game content, NetEase partners with other leading game developers, such as Blizzard Entertainment and Mojang AB (a Microsoft subsidiary), to operate globally renowned games in China. NetEase’s other innovative service offerings include the intelligent learning services of its majority-controlled subsidiary, Youdao (NYSE: DAO); music streaming through its leading NetEase Cloud Music business; and its private label e-commerce platform, Yanxuan. For more information, please visit: http://ir.netease.com/.

Forward Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbour” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “aim,” “anticipates,” “future,” “intends,” “plans,” “believes,” “may,” “estimates,” “potential,” “continue,” “ongoing,” “goal,” “targets,” “guidance,” “commits” and similar statements. Among other things, statements that are not historical facts, including statements about future growth, the Company’s current and future position in the markets in which it operates, business plans and projections, the completion of transactions and the strategic goals of transactions, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information contained in this announcement is as of the date of this announcement and are based on assumptions believed to be reasonable as of this date. You should not rely upon these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Enquiries:
Margaret Shi
NetEase, Inc.
ir@service.netease.com
Tel: (+86) 571-8985-3378
Twitter: https://twitter.com/NetEase_Global

Brandi Piacente
The Piacente Group
netease@thepiacentegroup.com  

Media Enquiries:
Li Ruohan
NetEase, Inc.
globalpr@service.netease.com
Tel: (+86) 571-8985-2668
Twitter: https://twitter.com/NetEase_Global

Alby Wan
Hill+Knowlton Strategies Asia
Alby.Wan@hkstrategies.com

Related Links :

http://ir.netease.com

PR Newswire

OKEx Is First Exchange to Offer a Full Suite of Trading Products for Uniswap’s UNI

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VALLETTA, Malta, Sept. 18, 2020 — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has announced the listing of UNI, the governance token of popular DeFi protocol Uniswap. Not only has OKEx added support for spot trading of UNI, but it is also providing its users with the most comprehensive range of trading products for this hot DeFi token, including margin, swap trading, coin-margined perpetual swap and Savings, making OKEx the first exchange to offer UNI derivatives. 

Deposits of UNI went live at 2:00 am UTC on Sept. 17, and withdrawals were available beginning at 8:30 am UTC on Sept. 17. UNI spot trading against USDT began at 2:30 am UTC on Sept. 17, while trading pairs against ETH and BTC were made available at 3:30 am UTC on Sept. 17. 

The coin-margined perpetual swap for UNI was listed at 11:00 am UTC on Sept. 17, 2020. In order to avoid unreasonable charges when the new contract launches and the premium is unstable, the upper limit of the funding rate before 8:00 am UTC on Sept. 18 has been reduced to 0.03%.

To celebrate the listing of UNI, and being the first exchange in the world to offer UNI derivatives, OKEx will offer zero transaction fees in UNIUSD perpetual trading, for both the taker and maker. 

"We are very pleased to be one of the earliest exchanges to list UNI, and the first to provide a complete set of trading tools including margin, swaps and savings for it. As one of the largest decentralized exchanges today, Uniswap has made outstanding contributions to the current development of DeFi, which we very much appreciate," commented OKEx CEO Jay Hao, adding: 

"We continue to collaborate with participants in the DeFi space to grow this industry together. CEX or DEX, CeFi or DeFi is not a simple single-choice question. The goal of blockchain and DeFi has never been to replace CeFi, but to use its own characteristics of trustlessness, low friction and low costs to make up for the deficiencies of the existing financial system."

As a decentralized exchange in the form of two smart contracts hosted on the Ethereum blockchain, as well as a public, open-source front-end client, to a certain extent, Uniswap has marked the starting point of a recent DeFi trend. Uniswap is a 100% on-chain market maker allowing the swapping of ERC-20 tokens, as well as ETH to ERC-20 and vice-versa. Today, Uniswap is not just a DEX, but a platform where emerging DeFi projects can often earn their initial reputation.

Yet, DeFi is not without its limitations, and the advantages of top CEXs in terms of efficiency and operational capabilities also attract a large number of DeFi tokens. In addition, the customer service system established by investing a lot of manpower and material resources have made great contributions to industry popularity, user education and onboarding.

In a nutshell, CeFi and DeFi complement each other. The best way to push the blockchain and crypto industry forward is to combine these two powers and play to both their respective advantages.

About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

Photo – https://photos.prnasia.com/prnh/20200526/2813046-1-LOGO?lang=0

Related Links :

http://www.okex.com/

PR Newswire

E-Business Expo China opens in Hangzhou

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The 7th International E-Business Expo, the Zhejiang International Digital Trade Fair and the 11th Zhejiang Business Service Fair held concurrently

HANGZHOU, China, Sept. 18, 2020 — On September 18, 2020, the 7th International E-Business Expo, the Zhejiang International Digital Trade Fair and the 11th Zhejiang Business Service Fair opened at the Hangzhou International Expo Center. Co-organized by the Hangzhou Municipal People’s Government and the Department of Commerce of Zhejiang Province, the "New Era of E-Business"-themed expo is taking the lead in the global digitalization of trade in response to the new economic landscape.

Relying on the fundamental principles of observing trends, looking for services and selecting products, the expo has adopted the "1+8+N" framework, with the "1" referring to an exhibition with a focus on these three basic principles, which has been a factor in deciding the configuration of the seven exhibition areas: new trade, new consumption, digital services, regional e-businesses, rural e-businesses, imported goods and domestic goods. "8" refers to eight forums, divided into one main forum and seven sub-forums. The "N" stands for a number of precisely-targeted, high-end events including small-scale matchmaking conferences, salons and closed-door roundtables.

Hu Wei of the Hangzhou Municipal People’s Government said that the expo is focused on the current hot topics including discussions on the in-depth integration of digital trade and new e-businesses. With the aim of creating a leading global e-business expo, the event tapped into Hangzhou’s advantageous industrial resources and fully demonstrated new breakthroughs in terms of novel concepts for e-business and the digital economy.

Department of Commerce of Zhejiang Province director-general Sheng Qiuping said, with the deep application of modern information technologies worldwide and the rapid growth of the digital economy, internet-based digital trade is thriving as well as accelerating the optimization and integration of innovation, industry and value chains worldwide. It is becoming an important way in which trade is conducted in the digital era. Zhejiang province has been at the forefront of the acceleration of the development of new e-business formats while strengthening its position as a center for innovation and entrepreneurship for digital service trade by creating a number of global leaders in the sector. The province is taking a multi-faceted approach to changing its development model, optimizing its economic structure as well as accelerating the full digitalization of both its trade and industrial sectors.

PR Newswire

Equiteq supports VISEO on its APAC expansion with the acquisition of Cludo, a Salesforce leader in the Australian market

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SINGAPORE, Sept. 18, 2020 — Equiteq is pleased to announce it has supported VISEO, a global technology company specializing in digital transformation services, in its acquisition of Cludo, a leading Australian Salesforce Platinum Partner.

Joining forces enhances the ability of both companies to deploy larger-scale digital projects across Australia and the APAC region, as the addition of Cludo’s digital transformation expertise will complement VISEO’s comprehensive range of digital services offerings.

"This is a natural union. Like VISEO, we are committed to our customers and our people, and culturally and operationally we are strongly aligned. This merger is great news for our people and will benefit our customers and the Salesforce ecosystem by allowing us to combine with a global leader, accelerate innovation and drive even greater customer success," explains Ian Goodwin, Co-Founder and CEO of Cludo.

"VISEO Australia is delighted to welcome the Cludo team into our organisation. We share a similar company culture and vision, and our potential synergies are aligned with our strategy to become a top-3 Salesforce player in ANZ in the next 3 years," says Pierre-Francois VIEAU, Managing Director of VISEO Australia.

"We are very pleased and honoured to welcome Cludo as part of the VISEO family. This move reflects our ambition for Australia. It will consolidate our partnership with Salesforce and accelerate our Cloud First Strategy," adds Olivier Dhonte, VP APAC and Chairman of the VISEO Group.

Charles Woodall, SVP Alliances & Channels, Salesforce APAC said, "Cludo is a fast-growing member of Salesforce’s ecosystem, driving substantial digital transformation projects for our joint customers. We welcome its acquisition by VISEO, which will support Salesforce’s digital transformation capabilities in Australia and across the region."

Regarding Equiteq’s role in the transaction, Olivier also remarked, "Their comprehensive support ranges from initial market assessment and research, initial contacts and negotiations, down to the completion of the deal. Their deep understanding of the Salesforce market, together with the right combination of local and regional support, have been instrumental in the success of this project. "

Jean-Louis Michelet, MD Equiteq Asia-Pacific, and Alex Monck, MD ANZ, commented: "We are proud that our Australian team has made it possible for Equiteq to contribute once again to VISEO’s growth journey."

Related Links :

https://www.equiteq.com/home

PR Newswire

SIGN CHINA 2020 Opens Today, Both Virtual & Physical

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SHANGHAI, Sept. 17, 2020 — SIGN CHINA 2020 Shanghai Show, organised by Informa Markets Trust, kicks off its first ever SIGN CHINA | Live online webcast today with its physical show at Shanghai New International Expo Centre, 17 –19 September 2020 to allow domestic and overseas buyers conduct their sourcing with reliable suppliers online and onsite.

Onsite SIGN CHINA 2020 Shanghai Show
Onsite SIGN CHINA 2020 Shanghai Show

For 2020, SIGN CHINA bring together 2000 leading brands to present extensive range of product from signage & lightbox/ indoor & outdoor digital print equipment and ink/ digital textile printing equipment & materials/ indoor & outdoor digital print materials/ laser engraving & cutting equipment and components/ display & retail solutions/ acrylic & advertising panel. And all exhibitors will showcase their product onsite and launch live webcast online.

Exhibits of SIGN CHINA 2020 Shanghai Show
Exhibits of SIGN CHINA 2020 Shanghai Show

Since its establishment in 2003, SIGN CHINA has been devoted to attracting good quality and leading enterprises from the sign industry for its professional buyers. SIGN CHINA Live will be no different in terms of either product diversity or immersive sourcing experience.

SIGN CHINA | Live is easy to navigate. It is an excellent platform for buyers to dive into the live interaction with suppliers via chat or video call, to schedule meetings with exhibitors and post specific purchase enquires.

User interface of SIGN CHINA - Live
User interface of SIGN CHINA – Live

Although the platform will service clients all year round, but the most attractive part, the Live Webcasts will only be streaming same as the physical show dates, from 17 to 19 September. Join now https://bit.ly/33sc43K for golden opportunities to connect with big names from traditional & digital signage industry.

About SIGN CHINA:

Established in 2003, SIGN CHINA has been devoting itself to build a one-stop platform for the sign community, where global sign users, manufacturers and professionals can find the combination of laser engraver, traditional and digital signage, light box, advertising panel, POP, indoor & outdoor wide format printer and printing supplies, inkjet printer, advertising display, LED display, LED illuminant, OLED and digital signage all in one place. (For more, visit: www.SignChinaShow.com)

About the Organiser:

Informa Markets Trust, a joint venture of Informa Markets. Informa Markets is a leading B2B information services group and the largest B2B event organizer in the world. It has over 11,000 staff and provides business service to over 40 countries for more than 50 different industries. Over 500 leading exhibitions across the globe are organised by Informa Markets.

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PR Newswire

Hong Kong Blockchain Week 2020 Goes Virtual to Feature International Leaders of Finance and Tech

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With support from the Hong Kong community, industry leaders from across the world will converge at the largest virtual event for business, regulators, and technology.

HONG KONG, Sept. 17, 2020 — The 2nd Annual Hong Kong Blockchain Week 2020 hosted by The NexChange Group will be held between the 17th and 19th of November 2020. The core event of the week is the Block O2O Virtual Global Summit which is set for November 18th. The conference is set to be an ideal platform to look back at what 2020 has brought to the industry development, and to carry out prolific discussions about the range of applications blockchain technology can offer across different industries. Hong Kong and the Greater Bay Area have become a testing ground for a Digital Currency / Electronic Payment project by the People’s Bank of China, and the conference speakers will dive into detail on this unprecedented initiative.

NexChange is delighted to present Hong Kong Blockchain Week taking place on 17-19 Nov 2020. The premier blockchain industry event. The anchor event for the Week – Block O2O Virtual Global Summit will be hosted online on 18 Nov. This premier blockchain industry online event brings together governments, industry leaders, academics and innovators, and aid collaboration on both regional and international level.
NexChange is delighted to present Hong Kong Blockchain Week taking place on 17-19 Nov 2020. The premier blockchain industry event. The anchor event for the Week – Block O2O Virtual Global Summit will be hosted online on 18 Nov. This premier blockchain industry online event brings together governments, industry leaders, academics and innovators, and aid collaboration on both regional and international level.

The Blockchain Week will showcase a vibrant range of events, including an official Virtual Welcome Event on November 17th for VIPs and Speakers; a DeFi Day on November 19th presenting a series of online meetings and webinars about blockchain for Decentralized Finance; and a spectacular online ceremony of the world’s first international TADS Awards 2020 on November 18th.

Samson Lee, founder and CEO, Coinstreet Partners: "TADS AWARDS celebrates the Tokenized Assets and Digital Securities industries by recognizing and honouring significant contributions and distinguished achievements worldwide. TADS aims to nurture the growth of these industries by establishing best practices and setting measuring standards."

During Hong Kong Blockchain Week attendees will delve into the various content aspects:

  • CBDCs: Use Cases around the World
  • DeFi
  • Asset Tokenization
  • Mining Industry in 2020
  • Digital Economy
  • Regulation in Asia, the US and Europe
  • Solutions for enterprise
  • Social impact of blockchain-based projects

Speakers featured on the event agenda throughout the week:

David Chung, Under Secretary for Innovation and Technology, Hong Kong
Brian Behlendorf, Executive Director, Hyperledger and Linux Foundation
Henri Arslanian, FinTech and Crypto Leader for Asia, PwC
Alex Mashinsky, Founder and CEO, Celsius Network
Alicia García-Herrero, Chief Economist for APAC, Natixis
Miko Matsumura, General Partner, Gumi Ventures
David Johnston, Managing Partner, Yeoman’s Capital
Mai Fujimoto, Miss Bitcoin & CEO, Kizuna Co
Dr Ben Goertzel, Founder and CEO, SingularityNET

Juwan Lee, Chairman of NexChange: "Hong Kong Blockchain Week bridges many industries that are being transformed by blockchain technology and the opportunities it has brought. We expect to bring together those who decide the future of these industries today: investors, governments, media, and entrepreneurs from around the world."

About NexChange: NexChange Group is a venture innovation and media platform specializing in Blockchain, FinTech, HealthTech, AI, and Smart Cities.

For more information on the speakers, agenda, side events and partnerships, please visit https://www.hkblockchainweek.net/ or contact: info@nexchange.com

"PR Newswire is the ‘Official Press Release Distribution Partner" of Block O2O Virtual Global Summit 2020 and Official Hong Kong Blockchain Week 2020"

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PR Newswire

ReTo Eco-Solutions Signs Cooperation Agreement to Build Large Scale Industrial Park and Elderly Wellness Town in Yangbi County

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BEIJING, Sept. 16, 2020 — ReTo Eco-Solutions, Inc. (the "Company," "we" or "ReTo") (NASDAQ: RETO), a one-stop, total technology solutions provider for the healthy improvement of ecological environments, today announced that it signed a cooperation agreement with the People’s Government of Yangbi Yi Autonomous County.  Under the agreement, in Yangbi County the Company will be responsible for the planning, design and construction of an industrial park and elderly wellness town, which development is promoted by the government.

The large scale project covers 125 hectares, with 58 hectares designated for an ecologically-friendly industrial park and 67 hectares designated for an elderly wellness town providing healthcare, and serving as a destination for travel and vacations.  The geological survey for the project site is already underway, with preliminary work expected to take about four months, allowing for construction to commence in the first quarter of 2021.

Yangbi County is fast becoming an alternative eco-tourism center given its proximity to the historic, but over developed Dali City. Yangbi County is an hour’s drive from the Dali Airport and is close to Cangshan, another famous Chinese tourist attraction.  The natural environment and rich natural resources provide beneficial conditions for the development and operation of an elderly wellness town.  The area also benefits from active government support and attractive financial incentive programs designed to encourage development, eco-tourism and environmental protections.

Mr. Li Hengfang, ReTo’s Chairman and Chief Executive Officer, commented, "We greatly appreciate and value the confidence, support and partnership of the Yangbi government.  This important agreement further extends our relationship, as it builds on the previous projects we have signed in Yangbi County, for solid waste treatment, and ecological restoration, among others.  Our model of ecological restoration and industrial integration is unique and we believe offers compelling long-term benefits to the communities we operate in.  Our sustainable projects are scalable by design and help our partners achieve a better balance of social capital and environmental protection polices to the benefit of the broader society."

About ReTo Eco-Solutions, Inc. (NASDAQ: RETO)

Founded in 1999, ReTo (NASDAQ: RETO) is a leader in ecological innovation, with sustainable environmental priorities and seeks to empower communities through its proprietary technologies, systems and solutions, which have been used to bring clean water and fertile soil to villages and cities worldwide. The Company is founded on its strategy of Technology Improves Ecology and is a full spectrum provider of products and services, ranging from the production of environmentally-friendly construction materials, environmental protection equipment and manufacturing equipment used to produce environmentally-friendly construction materials, to project consulting, design and installation for the health and improvement of ecological environments,  such as ecological soil restoration, through solid waste treatment.  For more information, please visit: http://en.retoeco.com

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Specifically, the Company’s statements regarding: 1) its ability to assist in environmental protection; and 2) its ability to complete the construction of the industrial park and elderly wellness town are forward-looking statements.  Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of construction and ecological solutions in China and internationally; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and internationally and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

 

Related Links :

http://en.retoeco.com

PR Newswire

Innovative Use of FICO Decision Management Technology Sees World’s Biggest Bank Win Prestigious Award

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China’s ICBC collects credit risk technology implementation award from Asian Banker in 2020

BEIJING, Sept. 15, 2020 —

Highlights:

  • ICBC Credit Card Centre has been recognized for its credit risk technology implementation with a prestigious award from The Asian Banker in 2020.
  • Responsive, high-speed iteration of decision management strategies was key to gaining an edge over competitors.
  • As of the end of June 2020, ICBC has issued more than 160 million credit cards.

Industrial and Commercial Bank of China (ICBC), the world’s biggest bank and issuer of credit cards, has seen its innovative and extensive use of FICO decision management technology recognized with the Credit Risk Technology Implementation of the Year Award from The Asian Banker.

For more information:
https://www.fico.com/en/products/fico-blaze-advisor-decision-rules-management-system

The award from Asian Banker is one of the most prestigious in the financial services industry for Asia-Pacific and acknowledges the bank’s industry leadership in the field of risk control.

"ICBC Credit Card has achieved some remarkable results using decision management technology in its business and we are thrilled they have been recognized in this way," said Sandy Wang, managing director of FICO China. "The team at Industrial and Commercial Bank of China has been focused on providing world-class customer-centric solutions for its credit card customers and they continue to be one of our most innovative and advanced clients in terms of their approach to analytics."

As of the end of June 2020, ICBC has issued more than 160 million credit cards and served more than 100 million customers, maintaining its position as the world’s largest credit card issuing bank with the largest number of customers. The bank has over 8 million corporate customers and 650 million consumer customers worldwide.

One of ICBC’s stated aims is to build "China’s No. 1 Credit Card Brand". After launching FICO® Blaze Advisor® decision rules management system, the bank successfully applied the technology to multiple decision-making areas of the credit card center and established a comprehensive intelligent risk control system.

To deliver on the demand for agile deployment of decision management across the business, ICBC Credit Card Center worked closely with FICO’s experts to establish a team to manage the rapid handling of production problems. ICBC also adjusted the development process and innovated a set of efficient working models to promote rapid strategy development as they saw responsive, high-speed iteration and continuous learning as key to gaining an edge on the competition.

"We are very honored to work with ICBC Credit Card and to have played a part in helping them to win this award," concluded Wang. "Decision management is both art and science and the team at ICBC has managed to combine both skills when deploying this technology. FICO’s decision management platform is being widely adopted in the finance industry, especially as banks look to the current and future digital transformation of their business."

About ICBC
Industrial and Commercial Bank of China was established on 1 January 1984. On 28 October 2005, the Bank was wholly restructured to a joint-stock limited company. On 27 October 2006, the Bank was successfully listed on both Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Through its continuous endeavours and stable development, the Bank has developed into the leading bank in the world, possessing an excellent customer base, a diversified business structure, strong innovation capabilities and market competitiveness. The Bank regards service as the very foundation to seek further development and adheres to creating value through services while providing a comprehensive range of financial products and services to 8,098 thousand corporate customers and 650 million personal customers.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time. 

Learn more at www.fico.com.

Join the conversation on Twitter at @FICOnews_APAC.

FICO and Blaze Advisor are registered trademarks of Fair Isaac Corporation in the US and other countries.

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Related Links :

http://www.fico.com