WeBank Co Ltd (“WeBank”) was established by renowned companies, including Tencent, Baiyeyuan Investments and Liye Group, and officially launched on December 16, 2014, in turn becoming both the first privately-owned bank and the first digital-only bank in China. To date, the Bank has launched a personal micro-loan product (“Weilidai”), the WeBank mobile app (savings account and personal wealth management), a car micro-loan product (“Weichedai”),and a consumer discount product (“Weizhongyouzhe”), among many other products.
WeBank was built with technology at its core, and with technology as a key driver behind the bank’s development. As such, WeBank is committed to promoting innovative technologies. Since its formal launch, WeBank has already completed the construction of a comprehensive banking platform with self-owned intellectual properties, capable of handling high-volume, high-frequency transactions and has applied for more than 150 patents across a variety of technology areas. WeBank is also the very first commercial bank to be recognized as a National High-tech Enterprise by the Ministry of Science and Technology of China. WeBank strongly embraces the oft-stated ‘ABCD’ technologies (A.I., Blockchain, Cloud Computing, Big Data) as its strategic focuses and is an active leader in their related researches and applications in the financial sector.
WeBank has established many industry partnerships, through adopting an open and collaborative approach to connect with other financial and technology companies. This includes building a loan syndication platform, packaging technologies as white-labeled products, and many other examples of enabling our partnering banks and institutions through new online financial services models. In these innovative models, strategic resources can be leveraged among partners; each party can focus on its core strengths and competencies; and the jointly-provided services can cover a much broader market.