LexinFintech Wins World-wide Finance Award for Excellent Economic Innovator

SHENZHEN, China, July 19, 2021 /PRNewswire/ — LexinFintech Holdings Ltd. (“Lexin” or the “Enterprise”) (NASDAQ: LX), a primary online use and purchaser finance system for new generation people in China, has been named as the only Chinese winner in the Global Finance Magazine’s 2021 Innovators Awards. The Company gained for Exceptional Fiscal Innovators-Fintechs – in the Asia Pacific location, for its technological improvements in the economic solutions marketplace.

Lexin deployed ground breaking technologies such as synthetic intelligence and big info in the course of each move of its transaction processes, like consumer acquisition, chance management, fund matching, and functions, to boost operational effectiveness.

For danger management, Lexin proven AI capabilities in forecasting users’ existence cycle delinquencies to cut down pitfalls and to increase performance in loan issuance, transaction processing, and anti-fraud, etc. Its automated attribution characteristic substantially enhances the effectiveness of risk management by diagnosing the results in of pitfalls in authentic-time, sparing analysts the time and energy for details collation.

Lexin’s asset excellent continues to enhance many thanks to its technological improvements. Lexin’s 90 day+ delinquency price was at 1.84% as of March 31, 2021, and the initial payment default rate (30 working day+) has been under 1% for 8 months as of March 31, 2021, effectively resolving the pandemic-connected hazards although sustaining a substantial level of functionality. To date as of the conclude of the second quarter, Lexin’s coincident 1+ times past thanks is at 4.92%, as in contrast to past year’s 8.08% for the very same period of time, representing a 40% lower. Its most current recovery costs for negative money owed has attained an all-time substantial, increasing by 30% as in contrast to the exact time period very last calendar year.

Apart from its have danger management intent, Lexin is also leveraging its around seven decades of solid world-wide-web merchandise working experience, operating abilities, and monetary systems to enable economic institutions tackle worries these kinds of as site visitors acquisition, establishing new working styles, and increasing effectiveness in hazard administration. Lexin’s threat profiling and technique optimizing products and services can properly determine the quality part of denied personal loan applicants and enable fiscal institutions strengthen mortgage-issuance costs by 20-30 p.c when protecting secure asset high-quality.

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The Innovators Awards are meant to shine a spotlight on companies that routinely identify new paths and style new resources in finance, and all choices were made by the editorial board of World Finance with the input of reporters who are professionals on the functions currently being served by these innovators, according to Global Finance.

About LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. is a main on the net intake and finance platform for new era customers and customers in China. The Company presents a in depth vary of usage, economical and business services like money technologies providers, “get now pay out afterwards” (“BNPL”) expert services, and membership gains by means of its ecommerce platform Fenqile, BNPL product or service Maiya, and membership system Le Card. The Corporation works with economic establishments and makes both equally on the internet and offline to supply a extensive usage ecosystem catering to the demands of younger specialists in China. Lexin utilizes sophisticated technologies these as huge information, cloud computing and artificial intelligence in the course of the Firm’s services and functions, which involve hazard administration, mortgage facilitation, and the close to-instantaneous matching of users’ funding requests with delivers from the Company’s quite a few funding associates, and other consumption and economic solutions.

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