FinVolutionNYSE: FINV

SHANGHAI , July 2, 2024 /PRNewswire/ -- Deepfake technology, an artificial intelligence tool capable of generating convincingly fake audio and video, is increasingly being used to perpetrate financial crimes worldwide, raising serious concerns about sophisticated fraud. In a notable incident reported by CNN earlier this year, a finance worker was tricked into transferring $25 million during a video call with an individual posing as the company's chief financial officer (CFO), who was actually a deepfake.

SHANGHAI , June 24, 2024 /PRNewswire/ -- FinVolution Group, a leading fintech company, has been awarded the "Best Consumer Lending Technology Implementation in China" alongside CITIC Consumer Finance at the Asian Banker China Awards 2024. This award acknowledges FinVolution's dedication to providing innovative technology to financial institution partners.

SHANGHAI , June 20, 2024 /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform, today announced that its Philippines financial subsidiaries Wefund Lending Corporation and Lightning Financing Company entered into a loan facilitation agreement totaling 2.75 billion Peso (US$47.5 million) with Maya Bank, a pioneering digital bank dedicated to empowering the experience of its consumers and enterprise clients, and improve credit accessibility for the unbanked and underserved communities in the Philippines. JuanHand, an online lending platform with around 6 million registered users under Wefund Lending Corporation emerged as the preferred online platform for tech-empowered cash lending and other financial solutions among Filipinos.

FinVolution Group (NYSE: FINV) will hold its Q1 2024 Earnings Conference Call on May 15, 2024 at 8:30 PM ET. The call will feature Jimmy Tan, Tiezheng Li, and Jiayuan Xu. Participants include Yada Li, Thomas Chong, Alex Ye, and Hannah Han. Thank you for joining us today.

In the first quarter of 2024, FinVolution Group reported a total transaction volume of RMB48.3 billion, with China transaction volume reaching RMB46.1 billion (a 10.3% increase year-over-year) and international transaction volume reaching RMB2.21 billion (a 40.8% increase year-over-year). International revenues for the quarter also rose to RMB594.8 million, up 32.9% year-over-year and accounting for 18.8% of total net revenues. As of March 31, 2024, FinVolution had a total of 158.7 million registered users, marking an 8.3% increase from the previous year.

FinVolution Group (FINV) Q4 2023 Earnings Call Transcript

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FinVolution Group's earnings fell in fiscal 2022, but the company is expected to return to growth in fiscal 2023. The company's earnings yield and return on capital point to a strong investment case. The technicals of FINV stock have not been responding, but improvements in operations and international markets could lead to significant gains.

FinVolution is a leading online consumer finance company in China, facing competition from other fintech companies and banks. The company has not seen as fast of a loan-facilitated volume growth as its competitors in recent years. Despite challenges, FinVolution has opportunities for growth in the underserved Chinese market and through international expansion.