Haier Group and Shanghai Pudong Development Bank Launch Digital Transactions Credit Laboratory in Qingdao

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Consumer electronics giant Haier has teamed up with regional lender Shanghai Pudong Development Bank (SPD Bank) to launch a fintech laboratory in the Shandong province capital of Qingdao.

On 3 September a ceremony was held to unveil the official plaque for the “Haier – SPD Digital Transaction Credit Joint Laboratory” (海尔-浦发数字交易信用联合实验室) at Haier’s Qingdao offices.

Pan Weidong (潘卫东), head of SPD Bank, said that the joint laboratory was currently focused on implementing industry finance innovations, and would in future become serve to “expand digital credit.”

The Lab employs a “data-driven perspective to re-shape business models and risk control,” that will serve to reduce credit costs, provide solutions plans, and jointly create a B-end digital credit system.

SPD Bank first commenced its cooperative relationship with Haier Group in 2003, and has since engaged in in-depth collaboration in areas including wealth and asset management, supply chain financing and bond financing.

SPD Bank has worked with Haier’s COSMOPlat Industrial IoT platform on an online supply chain financing project – the “Haipu e-Loan” (海浦e贷), which recently oversaw its first loan and employs an Industrial IoT “transaction credit model.”

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