Dunxin Financial Holdings Limited , a leading licensed microfinance lender serving individuals and small and medium enterprises (SMEs) in Hubei Province, China, announced today that it plans to release its first mobile application “HiTon” in May 2019. “HiTon”, through DXF’s self-developed supply chain finance cloud platform, enables sellers to access credit for the sale of goods to buyer through logistics companies.
The Company has spent more than one and a half years on exploring the business opportunity in this market and six months on the research and development of the cloud-based platform. “HiTon” is designed to help sellers receive payment on the same date of shipment by offering short-term credit support that greatly improves capital efficiency by shortening the accounts receivable period, which traditionally lasts for 7-15 days. By cooperating with Dunxin, the logistics company will be positioned to change from a pure-play logistics company into a comprehensive service provider by offering logistic, financial, and settlement services. The mobile app will be launched in May of this year.
Dunxin’s Supply Chain Finance Cloud Platform is a technology-driven platform enabled by the big data analytics, cloud computing, AI, and mobile internet technologies. The platform is also built with a sophisticated risk management system, which includes automated customer selection, fraud detection, and credit scoring and assessment.
Mr. Qizhi “Ricky” Wei, Chairman and Chief Executive Officer of Dunxin, commented that, “The release of the new mobile app and the launch of our Supply Chain Finance Cloud Platform will showcase that the Company has transformed from its traditional lending business into the O2O supply chain financial business that will serve as a new engine to drive future growth. Going forward, the Company will make continuous efforts to develop a variety of supply chain financial products, helping meet the increasing demand from both individuals and SMEs by offering more customized services, and expanding our network presence in the regional market.”