Credit China FinTech Holdings Limited, a leading integrated fintech service provider in China, has revealed its plans to speed up the expansion of fintech business overseas.
The company has announced that it will establish Southeast Asia headquarter in Singapore by the end of the first quarter of 2017. Credit China FinTech said that it aims to bring its operating experiences in China and deploy them to other developing economies across Southeast Asia and South Asia.
“We have been approached by many FinTech companies and opportunities in Southeast Asia over the past twelve months. After careful deliberation at board meetings, we felt that setting up a regional headquarter in Singapore will effectively help us accelerate and conclude the working arrangement with these business opportunities”, Phang Yew Kiat, vice-chairman and chief executive officer of Credit China FinTech, said.
With extensive operating experiences and experiences accumulated in the past 3 years, the board decided to accelerate the pace of fintech growth outside China. The company said that the relatively low urbanization rate in Southeast Asia and South Asia despite enormous population (approximately 2.36 billion) facilitates the demand for the fintech services and gives room for the growth of the fintech market.
With operations established in 2003, Credit China FinTech Holdings Limited is a leading fintech company listed on the Stock Exchange of Hong Kong. It mainly engages in business including: P2P investment platforms – Financial Workshop, First P2P; P2P asset origination platforms – Diyifangdai, supply chain Joint - ventures; and online third-party payment platform – UCF Pay. It has successfully established a fully-integrated Fintech ecosystem, providing one-stop efficient intelligent financial lifestyle services for SMEs and middle-class consumers via mobile internet.
