The Shanghai Pudong Development Bank (SPD Bank) has launched a suite of new fintech plans that it claims provide “full lifecycle service” to small and micro-enterprises in the tech sector.
SPD Bank used the occasion of the 12th Shanghai Financial Services Fair (第十二届上海金融服务实体经济洽谈会) at the end of June to promote its concept of “full lifecycle fintech service (科技金融全程服务) that will cater to the financial needs of small and micro tech-enterprises from founding through to development and maturation.
SPD’s full lifecycle fintech service is comprised of two main components – the “E Enterprise Bank (e企行) and the “Fintech Services Platform” (科技金融服务平台).
The E Enterprise Bank provides a free cloud service platform for the daily operations of small and micro-enteprises, including account management, payment and settlement and wealth management, as well as online accounting and tax payments, online progress storage and order management and online financing.
SPD claims that the Fintech Services Platform is the first integrated platform in the fintech sector, pooling the resources and information of multiple parties to raise financing and investment efficiency in tech sector.
Tech enterprises can use the platform to make their financing needs known at the press of the button, before “unique algorithms performs smart matching of enterprise financing needs and platform investors, helping enterprises to enjoy targeted project matching.
“Investment organisations and listed companies can use the platform’s filtering function to achieve high-efficiency, targeted selection of high-quality projects.”
SPD Bank said that while supporting the growth of tech enterprises in response to state policy, it is also expanding the inclusiveness of its fintech services.
For nearly the past two years one of SPD’s key fintech products has been the “Tech Maker Loan” (科技创客贷), which provides early-stage tech companies which funds of up to 2 million yuan based upon an innovative points scoring model.
The bank has since launched a range of other products which seek to cover the financing needs of tech enterprises at all stages of growth, including the “Tech Contract Implementation Loan” (科技履约贷), which provides funds of up to 10 million yuan, and the “Small Giant Enterprise Loan” (小巨人（培育）企业信用贷), which provides funds of up to 30 million yuan.