Yiren Digital Ltd. American Depositary Shares (YRD)
5.6800
-0.1600 (-2.74%)
Yirendai Ltd is a prominent fintech company based in China that specializes in online consumer finance solutions
It operates a platform that connects borrowers seeking personal loans with investors looking to fund those loans, effectively facilitating peer-to-peer lending. By leveraging technology and data analysis, Yirendai aims to streamline the loan application process, making it more accessible and efficient for consumers. The company also focuses on providing various financial services, including credit assessment and risk management, thereby promoting financial inclusion and improving the borrowing experience for its users.
NEW YORK, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Deutsche Bank today announced the lineup for its Depositary Receipts Virtual Investor Conference (“dbVIC”) on Tuesday, September 24 and Wednesday, September 25, featuring live webcast presentations from international companies with American Depositary Receipt (ADR) programs in the US.
Key Takeaways: Small revolving loans, which Yiren only started offering in 2020, were a big driver of its 13% revenue growth in the second quarter The focus on such products is part of the fintech’s efforts to balance risk management and profitability enhancement in China’s difficult economic environment
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One of the main reasons why this stock went from a high in 2016 ($53.50) to penny levels was the mess in peer-to-peer lending in China. The rise of P2P lending firms in China initially led to a number of problems and fraudulent activities.
