BEIJING, Sept. 20, 2018 /PRNewswire/ -- China Internet
Nationwide Financial Services Inc. (NASDAQ: CIFS) ("CIFS" or the
"Company"), a financial advisory services provider and financial
technology company today announced that its wholly-owned
subsidiary, InTruth (Beijing) Information & Consulting Co.
Ltd. ("InTruth") signed several new agreements with
China-based financial
institutions, including:
- Golden Credit Rating International Co.,
Ltd. ("Golden
Credit"): InTruth will help Golden
Credit build up a credit rating system by using AI
technology. This system can help Golden
Credit to make its rating process much more
standardized, neutral and trackable, which will improve
Golden Credit's operation
efficiency.
- ICBC Credit Suisse Asset Management Co.,
Ltd. ("ICBC Asset"): InTruth will provide
ICBC Asset with an intelligent research
platform for fixed income and investment research
services. This product can help clients monitor their investment
portfolio.
InTruth uses A.I. technology, big data, cloud
computing, machine learning, natural language processing
etc., to design an intelligent investment research
platform, for these China-based financial institutions
such as banks, insurance and asset management firms, investment
funds/FOF and brokerage firms.
InTruth held its second
marketing conference - "Intelligent Research during
the A.I. Era" on September 12,
2018, in Shanghai. The
conference was attended by over 20 financial
institutions including: Lombarda China Fund
Management Co., Ltd., Bank of China Investment Management Co.,
Ltd., Essence Securities Co. Ltd., China International Fund
Management Co., Ltd. and China Pacific Insurance (Group) Co.,
Ltd., etc.
Ms. YuQing Wang, General manager
of Intruth of CIFS,
commented: "With the rapid development in financial
technology in China, we
expect the market size in this sector of intelligent
investment research to reach over RMB5
billion in the next 2-3 years. Fintech services can
significantly improve financial institutions' operational
efficiency by reducing overhead and improve processes. We
have made significant investments and have expanded our research
and development efforts since April 2018, when we launched
this service. While Intruth's products
are initially offered to some financial
institutions on a trial basis, we expect several of these
institutions to subscribe to our platform in the
months to come. We look forward to reporting our
progress."
About China Internet Nationwide Financial Services
Inc.
Incorporated in 2014, China Internet Nationwide Financial
Services Inc. (NASDAQ: CIFS) commenced its business by providing
financial advisory services to small and medium size companies
("SMEs"). The traditional business segments include commercial
payment advisory, intermediary bank loan advisory and international
corporate financing advisory services which help clients to meet
their commercial payment and investment needs. In late 2017,
the Company made a strategic decision to transition into a FinTech
company by providing clients with creative financial services,
FinTech products and industry solutions leveraging big data and AI,
aiming to help clients to reduce financing costs, lower financing
risks and improve operating efficiency. Currently its FinTech
business includes three segments: Supply Chain Financing, Big Data
Analysis & AI Reports, and Intelligent Investment Research. For
more information, please visit its website www.cifsp.com.
For more information contact:
Investor Relations
(China)
China Internet
Nationwide Financial Services, Inc.
ir@cifsp.com
+1 212
220-6998
|
Investor Relations
Service (US)
Lena Cati:
ir.us@cifsp.com
+1 212
836-9611
|
Forward Looking Statements
This news release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. All statements other than statements of historical fact
in this press release are forward-looking statements and involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties, Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
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SOURCE China Internet Nationwide Financial Services Inc.