Lufax
Lufax, full name Shanghai Lujiazui International Financial Asset Exchange Co., Ltd., is a Shanghai-based online Internet finance marketplace. It was founded in 2011 and is a subsidiary of the China Ping An Group.
The company was formed in September 2011 and initially offered just P2P lending. It is China's second-largest peer-to-peer lender. The company is claimed to be gradually expanding their operation, becoming a much bigger platform that collaborates with funds, insurance companies, and financial license holders. The company makes money by connecting borrowers and investors and charging a 4% charge on each loan. Since its inception, the company has arranged over 200,000 peer-to-peer loans worth a total of $2.5 billion. By 2015, Ping An Insurance (Group) Co. controlled 43% of the company. On the surface, Lufax appears to be a member of the Ping An Group and has positive contacts with the Chinese leadership.
Lufax operates software as part of its business operations. As a fintech company, Lufax heavily relies on technology and software to provide its online financial services to customers. This includes developing and utilizing software for functions such as risk management, fraud detection, credit scoring, data analysis, and digital platforms for customers to access and use its services. Additionally, Lufax has invested in artificial intelligence and other cutting-edge technologies to further enhance its software capabilities and improve its financial services offerings.
Founded: 2011
Headquarter: Shanghai, China
Website: https://lufaxholding.com
