51 Credit Card Enters Comprehensive Strategic Cooperation with CITIC aiBank, Releases “T+” Plan


Chinese credit card company 51 Credit Card (51信用卡) is teaming up with Baidu-backed direct lender CITIC aiBank (百信银行) to cooperate on fintech strategies.

51 Credit Card and CITIC aiBank executed a strategic cooperative agreement on 8 May with the themes of “ecosystem strength” and “open symbiosis.”

The two companies will reportedly focus on smart risk control and big data applications, as well as engage in cooperation in areas including consumer finance, credit payments, escrow operations and fintech.

Under the agreement the two parties will seek to provide customers with “comprehensive, personalised, secure and convenient comprehensive financial services, create a model for the integration of finance and technology, and expedite innovations in the areas of digital financial products and services.”

“This comprehensive strategic cooperation with CITIC aiBank launches a new field of online banking cooperation for 51 Credit Card,” said 51 Credit Card CEO Sun Haitao (孙海涛).

“CITIC aiBank is a state-level innovation trial, and the classic representative of open banking and smart banking in China, and is a leader in technology and scenarios.

“We hope that we will be able to combine the advantages of both parties and jointly drive the high-quality development of finance.”

“CITIC aiBank and 51 Credit Card’s execution of a strategic cooperative agreement will fully use the respective advantages of both parties,” said Li Rudong (李如东), chief of CITIC aiBank.

“”It will use consumer finance as its entry point, rely upon fintech, explore the implementation of opening banking and a new consumer ecosystem, achieve the maximisation of customer value, and make financial services smarter, more inclusive, and more understanding of consumers.”

51 Credit Card says it had made major strides in the areas of big data mining, smart risk control, anti-fraud measures and targeted sales.

In 2018 51 Credit Card independently developed and launched its “full lifecycle sales solution plan” Feima (费马) (Fee Horse) and its risk-control big data AI solution plan Guangzhui (光锥) (Light Cone).

51 Credit Card also used the signing of the cooperative agreement to officially launch its “T+” plan (referring to “technology,” “target” and together”), which will see the expansion of the number of cooperating banks and its cooperative scope to encompass online banks.

51 Credit Card already engages in cooperation with 24 banks, and just recently entered a strategic cooperative agreement with Zhongyuan Bank, the largest municipal commercial bank in Henan province.