BEIJING, Jan. 23, 2018 /PRNewswire/ -- Yirendai Ltd.
(NYSE: YRD) ("Yirendai" or the "Company"), a leading fintech
company in China, announced today that it has connected to the
Internet Finance Industry Credit Information Sharing Platform ("the
Platform") established by the National Internet Finance Association
of China ("NIFA"). The Platform
was established to serve as an industry wide credit data sharing
database in aims of reducing credit risk, improving the credit
environment and promoting the healthy development of the internet
finance industry. Currently, all leading online lending platforms
are required to upload their operating credit data to the
Platform's database and members can only make manual inquiries on
the Platform through its webpage. Yirendai has been selected by
NIFA to participate in a pilot project to enable automatic queries
and the Company expects to launch an automated query function in
its system shortly.
"As a leader in China's fintech
industry, Yirendai is committed to creating a sustainable
foundation for the industry," commented Ms. Yihan Fang, CEO of Yirendai. "We believe that
the establishment of the Platform is critical for the healthy
development of the industry and the Company will closely work with
NIFA in promoting the integration and sharing of internet finance
credit information."
NIFA is a national self-regulatory organization in the field of
internet finance and is initiated by the People's Bank of
China in collaboration with
relevant ministries and commissions including the China Banking
Regulatory Commission, the China Securities Regulatory Commission
and the China Insurance Regulatory Commission. The aim of NIFA is
to perform self-regulation of the internet finance sector, to serve
members and safeguard their legitimate rights and interests, to
maintain fair competition of the internet finance sector and to
promote its healthy and orderly development. Yirendai was elected
as a Council member of NIFA and CreditEase, Yirendai's parent
company, was elected as a Standing Council member of NIFA.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Such statements are based upon
management's current expectations and current market and operating
conditions, and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond Yirendai's control.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. Potential risks and
uncertainties include, but are not limited to, uncertainties as to
Yirendai's ability to attract and retain borrowers and investors on
its marketplace, its ability to introduce new loan products and
platform enhancements, its ability to compete effectively, PRC
regulations and policies relating to the peer-to-peer lending
service industry in China, general
economic conditions in China, and
Yirendai's ability to meet the standards necessary to maintain
listing of its ADSs on the NYSE or other stock exchange, including
its ability to cure any non-compliance with the NYSE's continued
listing criteria. Further information regarding these and other
risks, uncertainties or factors is included in Yirendai's filings
with the U.S. Securities and Exchange Commission. All information
provided in this press release is as of the date of this press
release, and Yirendai does not undertake any obligation to update
any forward-looking statement as a result of new information,
future events or otherwise, except as required under applicable
law.
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.
For more information, please visit ir.yirendai.com.
For investor and media inquiries, please
contact:
Yirendai
Hui (Matthew)
Li
Director of Investor Relations
Email: ir@yirendai.com
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SOURCE Yirendai Ltd.