CHINA
PSBC Consumer Finance was established
Those impressive startup numbers have already put
in 2015 as the consumer lending subsidiary of Postal
PSBC into the fifth position in consumer lending in China.
Savings Bank of China (PSBC), which is one of the largest
With TCS BaNCS providing key support for PSBC’s
commercial banks in China. PSBC Consumer Finance ongoing business growth, PSBC is on the path to
provides a full range of consumer lending products, becoming one of the top consumer lenders in China,
offered solely through digital channels with a Direct according to Mr. Yu Hongyong, President of PSBC.
Banking business model.
In November 2018, PSBC executives met with a
The subsidiary went live in November 2015 following
delegation from TCS Financial Solutions headed by Mr.
a six-month implementation of TCS BaNCS for Core Venkateshwaran Srinivasan. The executive leaders from
Banking. both PSBC and TCS expressed their clear intention for
In May 2016, just eight months after the launch, PSBC further cooperation beyond the current solution, and TCS
Consumer Finance reached a loan balance of more than looks forward to supporting PSBC’s journey to become a
one billion RMB, serving more than 100,000 customers. leader in the consumer lending segment.
l
PSBC Consumer Finance
l Consumer lending subsidiary of Postal
Savings Bank of China (PSBC)
l Launched in 2015
l 8 Months After Launch: 1 billion RMB loan
balance, serving 100,000 customers
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