FinVolution Subsidiary AdaKami Cooperates with PT Bank Seabank Indonesia to propel growth in Indonesia

SHANGHAI, July 27, 2023 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced that its Indonesian financial application, AdaKami, has entered into a strategic cooperation agreement with PT Bank Seabank Indonesia ("SeaBank"), a digital bank dedicated to bettering the lives of consumers and small businesses in the region with technology. Under the terms of the agreement, SeaBank will provide AdaKami with a funding facility of approximately 300 billion Rupiah (US$20.0 million) to enhance AdaKami's integrated API services for direct transactions, expanding FinVolution's international service offerings and advancing the Company's mission of connecting underserved borrowers with financial institutions.

Building upon FinVolution's cutting-edge technologies and extensive experience in the region, AdaKami's various partnerships with leading Indonesian banks have flourished, boosting the platform's service efficiency and user connectivity while also promoting financial inclusion in the region. AdaKami's latest strategic collaboration with SeaBank will enable customers to seamlessly conduct real-time funding transactions through API, supplying individuals and small businesses with direct access to fintech solutions that contribute to Indonesian economic development.

Mr. Tiezheng Li, President and Chief Executive Officer of FinVolution Group, commented, "Driven by our Local Focus, Global Outlook strategy, FinVolution is proud to support Indonesia's economic growth through technology. AdaKami's partnership with SeaBank will empower underserved customers throughout the country with faster, simpler and more direct banking services. With FinVolution's commitment to financial inclusion firmly in mind, we will continue to invent and deploy creative technologies, expanding our customer base and elevating user experience while improving efficiency across our operations. We are confident that as we forge new partnerships and deliver enhanced financial solutions to more customers, we will replicate our domestic success in international markets, propelling the rapid growth of the fintech industry in Southeast Asia and beyond."

About FinVolution Group

FinVolution Group is a leading fintech platform in China and internationally connecting underserved 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, 2023, the Company had over 164.5 million cumulative registered users.

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Safe Harbor Statement

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For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan, IRC
Tel: +86 (21) 8030 3200 Ext. 8601

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677

In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050

SOURCE FinVolution Group