Artificial Intelligence
LexinFintech Wins The Asian Banker Award for Best AI and Innovation Lab in China
SHENZHEN, China, Aug. 29, 2020 (GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin”) (NASDAQ: LX), a leading online consumption and consumer finance platform for educated young professionals in China, has been awarded the Best AI and Innovation Lab Award in China by The Asian Banker, whose awards are seen as an undisputed benchmark measuring the performance of the best banks and fintech companies in Asia.
“Lexin’s AI Lab significantly enhanced the company’s operating efficiency and increased its profitability by providing automated artificial intelligence services throughout every step of its transaction processes. Both of its research and development (R&D) expense and R&D personnel as a percentage of total employee headcount have been maintained at levels that lead the industry,” The Asian Banker commented.
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Lexin’s R&D expenses in 2019 reached RMB416 million, a 30% increase as compared to a year earlier and accounted for 18% of the company’s total operating expenses, representing one of the highest percentages in the industry. One out of three employees at Lexin works for the company’s R&D and risk management teams.
Lexin’s continued commitment to technological innovations has notably enhanced the company’s technological competitiveness. Lexin’s AI operation system, “Lingxi,” can solve 97% of its customer enquiries without the need for any manual intervention, significantly improving its user experience the efficiency of customer service.
Lexin’s proprietary risk management system, “Hawkeye,” can automatically process 99.8% of new customers’ loan applications with more than 4,700 decision rules and over 15,900 data variables, making it possible for Lexin’s customers to complete a credit application on the company’s APP within minutes, and avoiding the need to submit significant amounts of paperwork.
Lexin’s fund matching system, “Wormhole,” can then match the approved loan requests with more than 100 institutional funding partners in real time with a success rate of 95%, allowing the company to handle nearly a million transactions a day.
AI innovations and advancements have enabled accelerated growth for Lexin’s consumption ecosystem, which includes installment e-commerce platform Fenqile, membership consumption platform Le Card, and Lehua Card, a product enabling Lexin’s customers to use their credit lines in numerous online and offline consumption scenarios.
Lexin also provides financial institutions with fintech services and retail merchants with consumer finance tools and customer management services. With these tools and services, the company combines consumer finance, membership services, and fintech services into a single ecosystem.
As part of its loan facilitation business, Lexin’s revenue from profit sharing credit business, which does not require the company to take on any financial risk and has no leverage limit thus allowing a fintech platform to fully unleash its loan originations capacity, surged by 171% to $394 million and is expected to account for 50% of the company’s business volume by the end of the year.
This is the second time Lexin has won an Asian Banker Award. The company was also awarded the Best Lending Technology Initiative, Application or Program in China in 2019.
The Asian Banker awards are generally viewed by executives as one of the most rigorous, prestigious and transparent financial awards in Asia. Lexin was one of nearly 400 applicants that The Asian Banker’s research team spent over 3 months reviewing and investigating before making the final decision. Previous winners of the award include world-renowned financial institutions such as Citigroup, Ant Financial and ICBC.
About LexinFintech Holdings Ltd.
LexinFintech is a leading online consumption and consumer finance platform for educated young professionals in China. It provides a range of services including financial technology services, membership benefits, and a point redemption system through Fenqile ecommerce platform and Le Card membership platform. The company works with financial institutions and both online and offline brands and retailers to provide a comprehensive consumption ecosystem catering to the needs of young professionals in China. It utilizes advanced technologies such as big data, cloud computing and artificial intelligence throughout its services and operations to better serve its customers.
For more information, please visit http://ir.lexin.com.
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For media inquiries, please contact:
Limin Chen
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: [email protected]
SOURCE LexinFintech Holdings Ltd.
Related Links
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Artificial Intelligence
Digital China’s Guo Wei Shares ‘China’s Sample’ of Global Digital Innovation with London Business School
LONDON, May 22, 2024 /PRNewswire/ — On May 21st, at the invitation of London Business School (LBS), Guo Wei, Chairman of Digital China, participated in the esteemed “Managing the Digital Organization” lecture, engaging with a cohort of prospective business leaders. Focusing on the trending topics of ‘Artificial Intelligence’ and ‘Digital Transformation’, he imparted the digital philosophy and practices of Chinese enterprises amidst the digital civilization era.
Digital China, a prominent player in China’s digital economy, has harnessed over two decades of deep involvement in the nation’s information industry to embrace the power of digitization. This has culminated in what Guo Wei refers to as ‘China’s Vibrant Blueprint for Digital Transformation’, carving a distinctive path of digital metamorphosis. Notably, Digital China’s transformation narrative has been incorporated into LBS’s esteemed case library, underscoring its significance as a teaching instrument.
In his lecture, Guo Wei emphasized that the digital economy now constitutes the backbone of supply, with digital technology emerging as the paramount catalyst for economic expansion. The hastening pace of global digitization propels us into an epoch of digital civilization. For multinational corporations, digital strategies have escalated to the status of corporate strategy, and the amassing of data assets constitutes the pivotal lever for business innovation. Amidst this evolution, AI-fueled digital-cloud integration signifies a disruptive technological innovation, poised to invigorate the global landscape. Digital China feels honored to reprise its role in elite international business school case repositories, thereby contributing insights to academia. This recognition signifies that Chinese enterprises’ digital and AI acumen resonates globally, exemplifying world-class practices.
Professor Julian Birkinshaw, Vice Dean and Professor of Strategy and Entrepreneurship at LBS, remarked, “As a global institution, we constantly seek out exemplary cases worldwide. Digital China was chosen not solely due to its prominence in China but also its sophisticated implementation of digital technologies, demonstrating adaptability and offering invaluable insights to our students about the contemporary business milieu. The story of Digital China encapsulates Mr. Guo Wei’s philosophy – digitization transcends being a mere process; it embodies the existential rationale for companies. This philosophy underpins our decision to feature Digital China in our case studies.”
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Artificial Intelligence
Saviynt Appoints James Ross as RVP-ANZ to Strategically Accelerate Growth in the Australia and New Zealand Region
LOS ANGELES, May 22, 2024 /PRNewswire/ — Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced the appointment of James Ross as RVP-ANZ as the company has seen rapid growth in the Australia and New Zealand (ANZ) region, with double digit growth year over year.
Saviynt has solidified its position as a key player in the cloud identity security landscape with its Identity Cloud. The company’s continued focus on innovation and client satisfaction has contributed significantly to building a safer Australia with prominent customers across the energy and utilities, finance, retail, energy, and transport and logistics sectors.
“James’ appointment as the Regional Vice President (RVP) for ANZ marks a strategic move to accelerate growth and solidify market presence in the region,” said Dan Mountstephen, SVP APAC at Saviynt. “With a proven track record of dynamic leadership at Collibra, ForgeRock, and CA Technologies, James brings a wealth of experience and expertise to the role. His visionary approach and collaborative spirit are poised to inspire and mobilize teams toward ambitious targets.”
Saviynt has consistently expanded its client base and deepened its relationships with existing customers through customized solutions and unparalleled support, cementing its reputation as a trusted partner in the region’s cybersecurity ecosystem. As RVP ANZ, Ross is set to foster key partnerships and implement agile strategies to propel the company towards new heights of success in the dynamic ANZ market.
“Joining Saviynt excites me because it’s an opportunity to help more organizations simplify their identity ecosystem in order to drive efficiencies and improved security posture. I am committed to leveraging Saviynt’s cutting-edge solutions to continue to broaden our partnerships in the region to improve our accessibility for customers, strengthen our regional delivery, whilst continuing to provide a great customer experience,” said Ross.
To learn more about Saviynt, please visit our website.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt’s cutting-edge solutions have been recognized as industry leaders. For more information, please visit www.saviynt.com.
Press Contact
Jacklyn [email protected]
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Artificial Intelligence
Appdome Sweeps Cybersecurity Excellence Awards
Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.
“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense: The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance: Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met. Mobile Application Security: With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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View original content:https://www.prnewswire.co.uk/news-releases/appdome-sweeps-cybersecurity-excellence-awards-302151786.html
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