CHONGQING, CHINA / ACCESSWIRE / November 6, 2020 / The list of entities winning the Global SME Finance Awards was unveiled on the Global SME Finance Forum on Oct 28th, 2020. This is a globally prestigious event jointly initiated by the World Bank Group and the G20. For its extraordinary technical innovation abilities and profound contribution to the field of digital financial inclusion, SimpleCredit was awarded the Platinum Prize for Product Innovation.
A Common future with financial inclusion
Financing difficulties and high financing cost are known barriers for small and micro businesses globally. Credit constrains holding back rural areas from getting rid of poverty also remain a world-wide conundrum. However, effective measures to facilitate their access to financing with lower cost are yet to be found.
As a rising fintech star, SimpleCredit has always been keen on innovations that can improve financial services and financial inclusion. It has built several strong business lines including supply chain finance and agricultural finance, developed over 10 different products, and reached strategic cooperation with over 100 leading companies covering fields.
Recently, SimpleCredit has entered a cooperative relation with the International Finance Corporation (IFC), a member of the World Bank Group (WBG). IFC will provide support for its digital agricultural financial consulting project financing agricultural or agriculture-related small and micro businesses.
Innovation guarantees a sustainable development for fintech companies
In digital economy, competition in the financial industry focuses more on products and services. Financing services alone can no longer keep up with the increasingly diversified market demand. Establishing a data-driven innovation mechanism for agricultural financial products and services to reduce transaction costs, and make inclusive finance affordable has become the mission of SimpleCredit.
SimpleCredit also has launched a Prosperity Plan fueled by cutting-edge fintech. The innovative financial service is 100% online and free of collaterals. Plus, the loans are available almost instantly. Client will never have to go through complicated procedures and provide considerable collaterals and wait for a long time for the loans to be approved.
In order to tailor products to the varied demands, SimpleCredit has developed three differentiated financial products to support the feed industry, planting industry and farming industry, namely, agricultural loan, agricultural machinery loan and pig breeding loan.
Chuanguo Wang Ph.D., CEO of SimpleCredit, pointed out, "being recognized by the World Bank Group and the G20 makes us even more confident in what we are doing."
Media contact
Company: SimpleCredit Micro-Lending Company Limited
Contact: Media team
E-mail: [email protected]
Website: https://xyd.cn/
Telephone: +86 152-1324-9077
SOURCE: SimpleCredit Micro-Lending Company Limited