Hexindai Inc. (NASDAQ: HX) (“Hexindai” or the “Company”), a fast-growing consumer lending marketplace in China, announced today that it has connected its systems and begun sharing credit data with Baihang Zhengxin (“Baihang Credit”).

Hexindai will make regular transfers of credit data to Baihang Credit which integrate and process the data collected to provide individual credit data. On the other hand, Hexindai will leverage the data generated from Baihang Credit to more accurately assess a borrower’s creditworthiness and potentially reduce the cost of risk management. In addition, borrowers will be encouraged to maintain healthy credit records due to the increasing cost of default brought by more integrated individual credit record.

“Baihang Credit’s platform will greatly enhance our credit services and strengthen compliance,” commented Mr. Xinming Zhou, Chief Executive Officer of Hexindai, “I believe being one of the institutions to share credit data with Baihang Credit is recognition of our leading position in the industry, diversified customer base, high-quality data, transparent operations, and regulatory compliance. We look forward to working with Baihang Credit and other partner companies to support the healthy development of the industry.”

Source: PR Newswire