Ping An Consumer Finance has partnered with IKEA and FamilyMart to appeal to young Chinese consumers. Ping An Consumer Finance is China’s first fintech consumer company.
The company will offer special services to help young people achieve financial independence by providing loans for young customers who want to buy products from IKEA and Family Mart. The two brands will also give customers a discount if they use Ping An to make purchases.
More and more young people in China are applying for loans due to financial pressures of keeping up with their desired quality of life.
This collaboration is in line with the “finance + technology” and “finance + ecosystem” strategy of the company’s owner, the financial conglomerate Ping An. Unlike traditional consumer finance companies, Ping An Consumer Finance is built on the Group’s expertise in artificial intelligence (AI), blockchain and cloud computing. Its core technology system underpins the entire consumer finance business, including targeted customer acquisition, product innovation, credit review, risk management, post-lending management and customer service.