Zheng Yudong, CEO for Wealth Management Business at PINTEC

Chinese technology platform, Pintech Technology Holdings, has announced its cooperation with Bank of Nanjing, in developing a new-generation digital wealth management solution for the bank.

According to the supplier, the new solution is based on PINTEC’s upgraded 2.0 version, wherein it has introduced variable products into the solution, including bank financing products and cash financial products.

“PINTEC was a pioneer in China to develop digital wealth management solutions and explore innovations and best practices,” said Zheng Yudong, CEO for wealth management business at PINTEC. “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. At the same time, it can help banks bring their familiar financing products to the portfolio to conduct asset allocation in a more scientific way.

PINTEC has previously partnered with many Chinese financial institutions on digital wealth management solutions, including Zhejiang Rural Credit Cooperatives, E-Capital Transfer, Minsheng Securities, Bank of Zhengzhou etc. offering digital wealth management technology services throughout Southeast Asia.

Established in 1996, Bank of Nanjing is a joint-stock commercial bank. With registered capital of RMB6.059 billion, Bank of Nanjing operates 17 branches and 161 retail outlets with nearly 8,000 employees.

by Megha Bhattacharya
Market Analyst at IBS Intelligence