On the evening of August 25, the “Asian Banker” “2022 China Future Financial Summit” and award ceremony, known as the “Oscar” award in the financial industry, was held in Beijing. China’s leading new consumer digital technology service provider Lexin (NASDAQ: LX) was awarded the “2022 Best Digital Loan Service in China” and “2022 Best Digital Business Model” in the international category by The Asian Banker for its outstanding underlying capabilities and innovative business ecology. This is the fourth consecutive year that Lexin has won the “Asian Banker” award. This year, it has made a breakthrough again, becoming the only fintech company that has won both domestic and international “Asian Banker” awards at the same time.
picture:Lexin wins two awards from The Asian Banker
It is reported that Lexin is the only fintech company to be listed in the “Asian Banker” 2022 International Awards, and Lexin’s innovative digital business model has once again won international recognition. Regarding Lexin winning the “Best Digital Business Model of 2022″ award, “The Asian Banker” said: “Lexin’s distinctive scenarios and customer base have opened up a business ecosystem that integrates business, capabilities and advantages, forming a mutually empowering business ecosystem. Circular enhancement effect. Over the years, Lexin has continuously transformed the four underlying capabilities—user operation capability, risk control capability, capital capability, data and technical capability into the driving force for sustainable development.”
Lexin has continued to develop steadily over the years, and has formed its own unique advantages in customer groups and scenarios. As of the second quarter of 2022, Lexin had 178 million highly sticky young users, of which the post-90s generation accounted for more than 70%. Most of them were new professionals, small town youth and new citizens. Compared with the previous generation, they were more independent and They are more fighting spirit, more optimistic about the future, and have strong spending power and willingness to spend. They are gradually becoming the main force of consumption. At present, Lexin has built a number of competitive products such as the installment brand Fenqile, the digital full-scenario installment consumer product Lehua Card, and the LBS-based life and shopping platform of the main consumer group Mai Acridine, to achieve full coverage of online and offline consumption scenarios.
Relying on the unique scenarios and advantages of customer groups, Lexin has opened up a business ecosystem that can be enhanced in cycles: instalments such as Le E-commerce, Buy acridine, etc., allow Lexin to obtain high-quality customers; high-quality customers, continue to give Lexin The scale and profit of the main business of consumer finance increased; the scale and profit of the main business continued to grow, allowing Lexin to accumulate rich data, thereby improving its model and technical capabilities; the improvement of technical capabilities helped Lexin to further export its capabilities to banks and merchants; The sharing of technological capabilities between banks and merchants enables them to attract more funds and access to scenarios; the scenarios are rich and attract more high-quality customer groups, opening a new cycle and forming Lexin’s unique business ecosystem.
Not only is Lexin’s business ecology and business model recognized by The Asian Banker, but the award of “China’s Best Digital Loan Service in 2022” also shows the recognition of the data and technical strength behind Lexin. In this regard, “The Asian Banker” said: “Lexin focuses on a core business of consumer finance, builds two growth poles of financial data science and technology retail, and builds new consumption services for financial institutions, brand merchants, small and micro enterprises and new citizens. Ecosystem, the loan has exceeded 210 billion yuan in 2021. At the same time, Lexin’s financial digital business, by providing a number of technological and digital services to financial institutions, helps institutions accelerate digital upgrades and enhance their core credit capabilities.”
The breakthrough of data and technical strength is inseparable from Lexin’s continuous industry-leading R&D investment over the years. In 2021, Lexin’s R&D investment will reach 550 million yuan, while the R&D investment in the first half of this year has exceeded 300 million yuan. This year, Lexin has also integrated and upgraded the technical capabilities accumulated over the years into a smart business engine. This is a system based on big data and machine intelligent decision-making, covering the entire process of customer acquisition, credit granting, transaction, and post-loan. . It is both the brain and the hands of an enterprise. It provides a complete set of analysis and decision-making tools to help businesses achieve agile operations, rapid iteration, and greatly improve the efficiency of decision-making, management, and business operations.
The continuous improvement of technical capabilities has driven the continuous improvement of Lexin’s refined operation capabilities. With the help of Lexin’s smart business engine, Lexin classifies customer groups based on years of accumulated user data and external data sources, and conducts multiple batches of quantitative experiments and iterations. The business effect has been significantly improved: the per capita contribution of high-quality customers has increased by more than 60%. %, the ARPU value increased by more than 20%. The Lexin Smart Business Engine has also built a new model and feature dimension by comprehensively strengthening the coverage and application of the People’s Bank of China’s credit reporting model. The ability to identify high-quality customers has been improved by more than 25%, and at the same time, it has helped businesses achieve the same goals and save more than 50% marketing costs.
Thanks to the improvement of underlying capabilities such as data and technology and the full implementation of refined operations, Lexin’s business development achieved remarkable results in the second quarter of this year, achieving revenue of 2.4 billion yuan, up 40.9% month-on-month; profit (Non-GAAP EBIT) 260 million yuan , an increase of 63.5% month-on-month.
Since the beginning of this year, Lexin’s technical capabilities have been repeatedly recognized by authorities. In June, Lexin was selected as the “First Batch of Data Security Industry Achievements in 2022 – Top Ten Typical Application Cases” by China Software Evaluation Center; in the first quarter of this year, Lexin won two awards in the 2021 (first) Super CSO annual selection, Among them: Counterfeit APP industry chain blocking governance won the “Annual Project Award”, “Lejian” APP privacy security management and control platform won the “Annual Innovation Award”; Fenqile APP won the mobile phone issued by China Cybersecurity Review Technology and Certification Center (CCRC). Internet application (APP) security authentication certificate.
picture:“Asian Banker” award ceremony
It is understood that the award winners with Lexin this time also include well-known financial institutions such as Bank of China, Industrial and Commercial Bank of China, China Merchants Bank, and Lufax. The “Asian Banker” award is an annual award issued by the American “Global Finance” magazine and the “Banker” magazine under the British Financial Times, and is called the “three laurels” of the global financial industry selection. In 2019 and 2020, Lexin won the “Best Credit Technology Award” and “Best AI Innovation Lab” award in the Asian Banker China respectively; Best Digital Business Model” award.Return to Sohu, see more
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