CreditEase Wins Major Awards at LendIt Fintech USA 2018

San Francisco, April 17, 2018 -- CreditEase, a leading Fintech conglomerate based in Beijing, China, announced today that its listed subsidiary Yirendai (NYSE: YRD) and its investment business unit, CreditEase Fintech Investment Fund (“CEFIF”) attended the LendIt Fintech USA 2018 conference held from April 9 to 11 in San Francisco. Senior executives from both companies delivered keynote speeches at the conference. LendIt Fintech conference is recognized as one of the largest global Fintech industry events that gathers industry leaders to explore the latest trends of financial technology in multiple areas including wealth management services, financial innovations, digital-enabled banking, blockchain and marketplace lending.

As the exclusive “Global Leader” partner of LendIt Fintech USA 2018, Yirendai was awarded “Top Consumer Lending Platform” and was the only Chinese enterprise to receive a LendIt Fintech industry award, which demonstrates high recognition of its outstanding contributions to the innovation of the financial services industry. In addition, Ms. Yihan Fang, CEO of Yirendai was nominated for “Executive of the Year” and CEFIF was nominated for “Top Fintech Equity Investor”. Both nominations are strong recognition of the great achievements CreditEase has made in both wealth management and Fintech investment fields.

Ms. Yihan Fang commented, “We are honored to receive this award. We believe that Fintech will become the spotlight of the financial services sector in 2018. Both China and the U.S. have become the undisputed powerhouses for Fintech development. We expect to see more collaboration and learning take place among companies from these two nations. By leveraging the LendIt platform, we hope to share our experience in Fintech innovation and sustainable development with industry stakeholders and promote further advancement of the global Fintech industry.”

Together with Ms. Yihan Fang, Mr. Yuan Yao, Vice President of Yirendai, Ms. Anju Patwardhan, Managing Director of CEFIF, and Mr. Zheng Cui, Partner of CEFIF attended several panel discussions to discuss new opportunities in the Fintech sector as well as CreditEase’s capabilities in financial technology, investment and internationalization.

In her keynote speech titled “China’s New Wealth Gets Wise”, Ms. Yihan Fang pointed out that, “As of the end of 2016, private wealth totaled RMB 65 trillion in China, making the country the second largest private wealth market next to the U.S. In our view, China’s wealth management market will continue to evolve along with economic transformation. As individual investors continue to become more sophisticated in their approach to wealth management, we have seen a gradual shift from offline wealth management to online, from bank savings or fixed income products to more diversified wealth management products such as funds and VC/PE types of alternative investment products.”

Ms. Fang also commented that the convergence of technology and finance is reshaping the financial services and wealth management sectors. Platforms to stand out are the ones providing online wealth management solutions and services based on customers’ contextual and individualized needs.

Ms. Fang added, Yiren Wealth, the online wealth management platform under Yirendai, provides professional and smart online wealth management services to middle-class and high-net-worth individuals. Based on multi-dimensional analysis of customer demand and AI technology, the online wealth manager Yiri can provide customers with personalized and unique asset allocation solutions. Ms. Fang also shared her views on the changing demand from Chinese investors, “we expect to see more investors embrace more diversified investment solutions through professional organizations like CreditEase and Yirendai.”

At the panel discussion named “Wealth Management in the Age of Millennials”, Mr. Yuan Yao introduced more details of Yiren Wealth, and its ability to leverage big data and cloud computing technologies to provide Chinese millennial investors with customized planning for asset allocations.

At the panel of “Myths and Realities in AutoTech, WealthTech and SME Scoring” moderated by Ms. Anju Patwardhan, she shared with the audience CreditEase’s views on future Fintech opportunities and prospects. “We are honored to be nominated ‘Top Fintech Equity Investor’ by LendIt which is a good proof of our capability in Fintech investment. Finance is driven by technology. In addition, AI and big data technology can be adopted in various financial services fields, and play very important roles in risk management and financial innovation.”

Mr. Zheng Cui attended the panel discussion of “China's Top Fintech Companies and How They Lead Innovation” and summarized CreditEase Fintech Investment Fund’s 35 investments since its inception, ranging from credit-tech, wealth management, InsurTech, mobile payment and enterprise financial services.

About CreditEase:

CreditEase is a Beijing-based leading FinTech conglomerate in China, specializing in inclusive finance and wealth management, in addition to payment technology, marketplace lending, crowdfunding, robo-advisory, insurance technology and blockchain products and services. CreditEase actively engages with global FinTech innovators through business incubation, commercial co-operation, and investment. Better tech, better finance, better world.

About Yirendai:

Yirendai Ltd. (NYSE: YRD) is a leading fintech company in China connecting investors and individual borrowers. The Company provides an effective solution to address largely underserved investor and individual borrower demand in China through an online platform that automates key aspects of its operations to efficiently match borrowers with investors and execute loan transactions. Yirendai deploys a proprietary risk management system, which enables the Company to effectively assess the creditworthiness of borrowers, appropriately price the risks associated with borrowers, and offer quality loan investment opportunities to investors. Yirendai's online marketplace provides borrowers with quick and convenient access to consumer credit at competitive prices and investors with easy and quick access to an alternative asset class with attractive returns.

About CreditEase Fintech Investment Fund:

Founded in February 2016, CreditEase FinTech Investment Fund is a venture fund investing in growth-stage FinTech companies in China and the global markets. CreditEase FinTech Investment Fund has an equivalent of $1 billion in total committed capital. The fund has formed strategic partnerships with global leading venture capital investors to discover opportunities in five sub-segments within the domain of FinTech: Lending, Payment, Personal Finance/Wealth management, Enterprise Solutions, and Insurance.