Aitai Tech (爱钛科技) has been named China’s most influential fintech brand for 2018 at the 7th China Caijing Summit held in Beijing on 23 July.
This year’s 7th China Caijing Summit (七届中国财经峰会) focused in particular upon the hot-button topics of consumer upgrades, artificial intelligence, fintech developments and blockchain technology.
While in attendance at the summit Aitai CEO Rong Yu (容宇) said that improving the efficiency of the financial sector lay at the core of fintech innovations.
“On the one hand is cost reductions, and on the other hand is improvements to the efficiency of client acquisition,” said Rong. “Overall, what [fintech] achieves is the process of reducing costs and raising value.”
According to a report from the China News Service Aitai Tech is a subsidiary of Shanghai Aitai Shangwu Zixun Co., Ltd. (上海爱钛商务咨询有限公司), and was established in January 2018 to provide “one-stop fintech services” to small and medium-sized banks and other financial institution clients in China.
The company says it has created a “one-stop” fintech-based operations services plan that encompasses small and medium-sized enterprise lending and consumer loans, as well as client acquisition and risk control.
Aitai has already entered strategic cooperative agreements with four newly established Chinese banks and two insurance companies.
CEO Rong Yu has previously held senior management positions with Standard Chartered, the Shanghai banking regulator and Baidu Finance, while the company’s chief big data risk advisor Dr. Li Chunlei holds a PhD in physics from the University of Pittsburgh in the United States.