DIANRONG ANNOUNCES NEXT TECHNOLOGY AGREEMENT OUTSIDE MAINLAND CHINA

May 28, 2017 IMG_7695

New strategic alliance with Asia-Pacific banker Maggie Ng to develop global fintech investment marketplace
Dianrong today announced a new technology agreement with Maggie Ng, a leading consumer banking executive in Asia Pacific, to launch the first global fintech marketplace connecting Asian investors with high-quality, low-volatility and largely untapped asset classes, including U.S. consumer lending. The new strategic alliance combines Dianrong’s advanced technology with Ms. Ng’s extensive consumer-lending experience.

Ms. Ng and Dianrong engineers are currently completing beta testing for the new fintech platform that will provide Asian investors with an integrated solution to access U.S. marketplace lending assets. The platform will utilize multiple U.S. marketplace lenders and a single onboarding and know-your-customer process. It will also offer advanced risk modeling capabilities, added credit enhancement and structuring features, and blockchain solutions to safeguard data integrity. Investors will also have access to real-time performance monitoring, U.S. tax-exemption filing capabilities and a secondary market for liquidity.

The new fintech marketplace leverages Dianrong’s award-winning Tuantuanzhuan (TTZ) technology, which has the ability to allocate investor capital across hundreds of thousands of loan assets in real time.

“Consumer lending, especially in the U.S., offers consistent performance with lower risk profile over time. However, the infrastructure to connect Asian investors with this attractive asset class has been lacking to date,” said Soul Htite, Founder and CEO of Dianrong.

“Maggie approached Dianrong for help to build a fintech solution for Asian investors, to finally access this seemingly hidden asset class and put consumer lending to work for more Asian portfolios. We are thrilled she has selected Dianrong as her technology partner,” Mr. Htite added.

“I have wanted to help bridge the gap between Asian investors and U.S. consumer lending assets for a long time, but making that connection remains difficult and expensive within traditional banking channels. Fintech removes much of that friction and significantly reduces the overall cost and complexity. With Dianrong’s advanced technology, we can make these solutions available now,” said Ms. Ng.

“Dianrong is the perfect choice to help provide Asian investors with simple, affordable access to US consumer lending assets. And their underlying technology will ensure unmatched speed-to-market, ongoing efficiency and outstanding reliability,” she added.

Ms. Ng has almost 20 years of financial services and consumer lending experience. She most recently served as the Head of Asia and EMEA Lending at Citibank N.A. Previously, she headed Citibank Hong Kong’s credit cards and unsecured lending businesses. Ms. Ng also served on the Board of Directors for Citibank HK. Prior to Citibank, Ms. Ng held senior positions at Ernst & Young (Australia) and Broken Hill Proprietary (HK) Ltd.

Ms. Ng holds an MBA from the California State University and a Bachelor of Science in Accounting and Information Technology from the University of New South Wales.
A commercial launch of the platform, to be based in Hong Kong, is expected by the end of the second quarter of 2017, pending final regulatory approvals.