Lufax

Lufax, full name is Shanghai Lujiazui International Financial Asset Exchange Corporation. It is an Internet-based online financial market-based in Lujiazui, Shanghai. Founded in 2005, it is an affiliate of China Ping An Group and started with P2P lending as a sole service. It is the second-largest peer-to-peer lending company in China. Now, the company is said to be slowly branching out its business, becoming a much broader platform that operates alongside funds, insurers and financial license holders. The platform makes money by matching borrowers with investors, charging a fee of 4% on each loan. By 2015, Ping An Insurance Company (Group) owned 43% of the company's shares. On the surface, Lufax is part of the Ping An Group and maintains good relations with the Chinese government.

Lufax's mission is to make retail lending and money management easier, more efficient, and more reliable. To be fair, the company has done a lot. For example, Lufax became the first company in the financial market to introduce a blockchain solution to verify the identity of customers and control transactions between creditors and debtors. The company's business can be divided into two parts, retail lending and money management. The marketing strategy that underlies the business model is based on three whales: KYP (Know Your Product), KYB (Know Your Business), KYC (Know Your Customer). In addition, Lufax works with customers, not only online but also offline. This is a serious advantage in competing with other companies that operate only on the Internet and suffer from low application conversion from large investors. When clients invest large sums of money, they crave direct contact with their managers and companies.

Founded: 2005

Headquarter: Shanghai, China

Website: https://lufaxholding.com