LexinFintech announces RMB1B cooperation with partners over next three years
LexinFintech announced that it expects to invest RMB1B in cooperation with its partners over the next three years, to better serve its customers and to expand the use of credit services. Jay Wenjie Xiao, Lexin's chairman and CEO, made the announcement in Sanya on April 18 at the Lexin Partner Conference, which is held annually to bring together the company's partners to exchange ideas, and to explore opportunities for cooperation. Nearly 300 staff from Lexin's partner organizations in different sectors attended the conference this year. As part of its efforts to connect financial partners to Lexin's educated young adult cohort, Lexin plans to launch a new feature called "Lejie" on the Fenqile platform, through which users will be able to borrow cash from a list of financial institutions. Lexin also plans to issue more co-branded credit cards to its users and to support installment repayments to credit cards. Meanwhile, the company will provide access to installment financing to users on other e-commerce platforms and popular internet applications to make credit service more accessible by increasing use cases.