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PPDAI Group up after signing data-sharing pact with Baihang credit platform

Published 07/16/2018, 10:19 AM
© Reuters.  PPDAI Group up after signing data-sharing pact with Baihang credit platform
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  • PPDAI Group (NYSE:PPDF) says it's one of the first 15 online lenders and consumer finance companies to sign up to connect to Baihang Zhengxin, China's first unified credit-reporting platform comprising the online lending sector and backed by China's central bank.
  • PPDF gains 3.7% in morning trading.
  • PPDAI will transmit credit information and data generated on PPDAI's platform to Baihang Credit's platform on a timely basis, while Baihang Credit will integrate and process the data and information collected from all its partners and provide individual credit information back to PPDAI and other partner companies.
  • Source: Press Release
  • Now read: Oaktree Management Turns Around A 'Bad Actor' In The High-Yield BDC Sector


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