Pintec Technology Holdings has provided support to the Bank of Nanjing for the development of a new-generation digital wealth management solution.
Image: Pintec has helped Bank of Nanjing to develop new-generation digital wealth management solution. Photo: courtesy of Joykid / FreeDigitalPhotos.net.
Bank of Nanjing’s new solution has been developed using Pintec’s upgraded 2.0 version of digital wealth management solution.
Pintec’s 1.0 version enabled the company’s partners to develop robo-advisory solutions with multiple domestic and overseas mutual funds as underlying assets.
The firm has added variable products, including the bank financing products and cash financial products, in the upgraded 2.0 version.
The company is also evaluating options to include insurance products into the wealth management system, enabling it to advance the digital advisory services development to the 3.0 stage.
Pintec said that various Chinese mainstream financial organizations are exploring digital investment services and seeing it as a significant field for innovation in their digital transformation.
Pintec, a major fintech solutions platform, has collaborated with multiple Chinese financial institutions such as Zhejiang Rural Credit Cooperatives, E-Capital Transfer, Minsheng Securities, Bank of Zhengzhou, Guoyuan Securities, and Z-Bank on digital wealth management solutions.
In October 2017, Pintec established a joint venture in Singapore in partnership with FWD Group and PIVOT Fintech to provide digital wealth management technology services across Southeast Asia.
Pintec wealth management business CEO Zheng Yudong said: “Pintec was a pioneer in China to develop digital wealth management solutions and explore innovations and best practices.
“Pintec has introduced bank financing products as underlying assets to replace some monetary funds and bond funds in the 2.0 version, which can achieve the extension of products while ensuring risk-reward ratio.”
Founded in 1996, Bank of Nanjing is a joint-stock commercial bank that operates 17 branches and 161 retail outlets with around 8,000 employees.
Pintech is an independent technology platform that provides customizable and modular fintech solutions for its financial and business partners.
Pintec offers various financial services for institutional partners, including point-of-sale financing solutions, personal installment loan solutions, business installment loan solutions, wealth management solutions and insurance solutions.