Dubai, U.A.E – WeLab, a leading Asian tech enabler for financial services has been awarded “Consumer Finance Product of the Year”, and “Digital Lending Product of the Year” at The Asian Banker’s International Excellence in Retail Financial Services Awards Ceremony in Dubai on March 21st 2019. This is the second consecutive year where WeLab has been recognized in this program, and is the only fintech company representing Hong Kong. Last year, WeLab brought home “The Best Business Model” and “The Best Data Analytics Initiative, Application or Programme”.
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The International Excellence in Retail Financial Services program is one of the most rigorous, prestigious and transparent annual award programs for consumer financial services in the world. Covering all of the Asia Pacific, the Middle East and West Africa, the program was instituted in 2001 to recognize the pursuit of excellence amongst retail financial institutions. The program evaluates more than 300 banks and non-bank retail financial services players in more than 42 countries, via a thorough audit-based approach.
“We are proud as a home-grown Hong Kong fintech company to be recognized by The Asian Banker in its International Excellence in Retail Financial Services Awards for the second consecutive year,” said Simon Loong, Founder and CEO of WeLab. “Considering that the majority of the award recipients of this program are leading established traditional banks, this highlights the increasing convergence between traditional banks and fintech companies being assessed on a level playing field. Combining the best of traditional banking and technology, we have deployed innovative solutions to deliver superior customer experiences using technology enabled financial products and services, concurrently solving for financial inclusion.”
WeLab has a successful track record in executing and operating in Hong Kong and China markets, scaling to over 35 million registered users. In 2018, they expanded into Indonesia to broaden their reach to both individual and enterprise customers with their technology enabled financial services.
About WeLab
Founded in 2013 in Hong Kong, WeLab is reinventing traditional financial services by creating seamless mobile lending experiences. With its proprietary risk management technology, WeLab effectively analyses unstructured mobile big data within seconds to make credit decisions for individual borrowers. WeLab operates a diversified business with WeLend in Hong Kong, multiple B2C, B2B, mobile phone leasing brands in Mainland China and a fintech joint venture AWDA in Indonesia. The company also partners with traditional financial institutions which utilize WeLab’s technology to offer FinTech-enabled solutions to their customers.
WeLab was named in a KPMG-sponsored report as one of the top 100 FinTech companies in the world – #7 in China and #23 globally – and was ranked by Deloitte as the #1 fastest growing tech company by revenue in Hong Kong and #4 in China. WeLab’s investors include Malaysian sovereign wealth fund Khazanah Nasional Berhad, CK Hutchison’s TOM Group, International Finance Corporation (a member of the World Bank Group), Alibaba Entrepreneurs Fund, China Construction Bank (International), Sequoia Capital and ING Bank.
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