China Rapid Finance Joins NIFA as a Founding Member – Business Wire (press release)

7 months ago Comments Off on China Rapid Finance Joins NIFA as a Founding Member – Business Wire (press release)

SHANGHAI–(BUSINESS WIRE)–China Rapid Finance (“CRF” or the “Company”), a leading online consumer
lending marketplace, became a sponsor and founding member of the
National Internet Finance Association of China (NIFA), which was
officially inaugurated in Shanghai March 25 to facilitate the healthy
development of China’s internet finance industry.

The association was founded with the approval of China’s State Council,
and was led by the People’s Bank of China, together with the China
Banking Regulatory Commission, China Securities Regulatory Commission,
China Insurance Regulatory Commission and other relevant regulators. The
association has accepted 437 members from among 2,000 applicants.

Joining NIFA as a founding member is a great recognition for CRF, while
bringing more responsibilities to the Company. As one of the
association’s founders, CRF has been actively participating in drafting
rules and regulations for industry self-discipline. The Company expects
the official release of such rules and regulations will have a positive
effect on industry development.

“NIFA will function as a bridge for the interaction between the Internet
finance industry and the government’s supervising organizations,” said
Dr. Zane Wang, CEO of China Rapid Finance. “We hope the self-discipline
rules and regulations for information disclosure, which NIFA has been
working on since its preparatory stage, will be published soon. The
healthy development of the Internet finance industry needs these rules
and regulations for standardized and self-disciplined information

CRF will continue to grow as a leading consumer lending marketplace,
with a focus on strict risk management and business innovation, while
working together with other NIFA members to drive the development of
Internet finance industry in China, Dr. Wang said.

About China Rapid Finance

Started from 2001, China Rapid Finance is the leading online consumer
lending marketplace serving China’s emerging middle class. China Rapid
Finance is a recognized innovator with the most advanced borrower
acquisition system and a proprietary Big Data analytics technology
platform that features an end-to-end automated credit decisioning
system. The Company has a proven track record in credit risk management
and transparency, and has facilitated more than 4,700,000 loans, as of
Dec. 31, 2015.

China Rapid Finance Joins NIFA as a Founding Member – Business Wire (press release)}