China Internet Nationwide Financial Services expands fintech offerings to help clients cut financing costs, boost efficiency

China Internet Nationwide Financial Services Inc (NASDAQ:CIFS) is expanding its fintech offerings based on new technologies including Big Data and artificial intelligence, to help clients cut financing costs, mitigate risk and boost operating efficiency.

Beijing-based CIFS offers financial advisory services to small and medium companies in China, but it has its eyes trained on the Hong Kong market and, finally, the United States.

“Our US listing gives us transparency, which is helpful in attracting clients in China and in international markets. Our business is mainly in China, but we are poised to be a global player especially with our new fintech products and services,” said Samanda Shu, VP of Investor Relations at CIFS.

With customer acquisition costs high, and regulatory hurdles to overcome, financial services firms are faced with a choice whether to build their own capabilities or seek out fintech partners like CIFS to help drive innovation initiatives.

“We provide a range of traditional value-added financial services to small and medium-sized companies to meet their commercial payment needs but fintech is the future,” said Shu. “CIFS has moved onto the next phase of its expansion and expects its fintech products to become the catalyst for future growth.”

The company’s fintech products allow organizations to offer financial services which are delivered through a better experience using digital technologies to reduce costs, increase revenue and remove friction.

Shu said that along with fintech initiatives, CIFS is developing Big Data and AI technology to provide clients with industry-specific applications and analytics. 

In August, CIFS-controlled Sheng Ying Xin Management Consulting Co signed an agreement with Tsinghua University to establish a joint research center to develop key technologies to support bitcoin’s technology endoskeleton, blockchain.

“We are focused on emerging and new technologies and bought a Big Data company after listing in New York,” said Shu.

China Internet Nationwide Financial Services recently acquired Anytrust Science & Technology Co, a Big Data company focused on providing data infrastructure design, big data access and analytics to enterprises and government agencies.

CIFS stock traded at US$10.34 Tuesday.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Story by ProactiveInvestors