Sichuan-based online lender XWBank (新网银行) says it’s stepping up its independent fintech research and development capabilities.
Mao Hang (毛航), head of XWBank’s information technology department, said to Cebnet.com.cn that the online lender’s IT-related investment has stood at around 10% of annual operating revenues on average since its founding just three years ago.
XWBank is striving to expand its roster of quality fintech personnel, who currently account for over 50% of the bank’s total staff.
As of the end of 2019 XWBank had filed for 139 patents in areas including artificial intelligence, big data and distributed ledger technology, of which 17 have been granted.
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