FinVolution Group Receives APP Security and Information Security Certifications from China's CVERC
SHANGHAI, June 12, 2020 /PRNewswire/ -- FinVolution Group ("FinVolution", or the "Company") (NYSE: FINV), a leading fintech platform in China, today announced that its fintech application, PPDAI App, has received both the APP Security Certification and the APP Information Security Certification with level 3 rating, the highest rating level in security evaluation standard, from China National Computer Virus Emergency Response Center ("CVERC").
Safeguarding user information and protecting user privacy is paramount in FinVolution Group's operation since its inception. The Company has established a comprehensive administrative mechanism and standardized employee training system for stringent information security management. FinVolution has also been deploying innovative technologies to promote user data protection. For example, the Company launched a Smart Finance Institute in 2018 for research and development in the field of artificial intelligence that can be applied in various aspects of financial services. In addition, FinVolution is also a member of the National Information Security Standardization Technical Committee and Mobile Application (APP) Security Committee, maintaining up to date knowledge and compliant regarding the latest cyber-security regulatory requirements.
Mr. Feng Zhang, Chief Executive Officer of FinVolution Group, commented, "The receipt of the certifications from CVERC is a clear testament to our efforts and competency in safeguarding user information and protecting their privacy, and further solidify our competitive advantage in terms of regulatory compliance. We remain committed to the highest operational standard and continue to advance our technological capabilities in enhancing cyber security. Meanwhile, we will leverage our cooperation with institutional funding partners to provide secure and convenient services for our users."
CVERC is the official agency for anti-virus internet security and the designated testing body for the "Special Crackdown on the Illegal Collection and Misuse of Personal Information by Apps" initiative by China's Ministry of Public Security.
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 the Company'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 the Company's ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company's marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, 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 the Company'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 FinVolution 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 FinVolution Group
FinVolution Group is a leading fintech platform in China connecting underserved individual borrowers with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platform, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of March 31, 2020, the Company had over 108.3 million cumulative registered users.
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