FinVolution Unveils Upgraded ESG Strategy Centered on Technology, Compassion, and Ecology

FinVolution, a leading fintech service provider, released its 2022 Environmental, Social, and Governance (ESG) report, putting "technology, compassion, and ecology" at the heart of its upgraded ESG strategy.

Under the new strategy, FinVolution looks to unlock steady economic benefits and societal value while championing long-term sustainable development. This marks the fifth consecutive year of the company's ESG disclosure.

Optimizing Customer Service with Technology

Leveraging its digital technology advantages, FinVolution has established an omnichannel feedback system, allowing users to seek assistance via a 400 hotline, online customer service, or its online platforms.

Throughout 2022, the company facilitated nearly 3 million service sessions, logging a 100% complaint resolution rate and a 93% customer satisfaction rate.

In 2022, FinVolution demonstrated robust performance in consumer protection and fraud prevention. Its full-process, multi-dimensional anti-fraud risk control system thwarted over 20,000 fraud attempts, safeguarding users from nearly 500 million RMB in potential losses. Some 20 million suspected fraudsters were exposed.

Such robust security measures helped to beef up consumer rights protection. FinVolution prioritizes information security and has established a three-tier governance structure composed of the board of directors, chief technology officer, and network security leading group.

FinVolution also adopts rigorous standards throughout the lifecycle of information management. They enable information collection only with user consent and within necessary scope, authorize only employees to access user data, and encrypt data.

The company has obtained ISO27001 information security management system certification at home and abroad, as well as ISO9001 quality management system certification.

Advancing Inclusive Finance

In line with its long-standing ethos of social responsibility and belief in the positive impact of technology, FinVolution has continuously supported inclusive finance initiatives aimed at boosting the real economy. In 2022, it facilitated 175.4 billion RMB in loans and conducted close to 30 million inclusive finance transactions.

By granting 43.4 billion RMB in credit to more than 900,000 SMEs, FinVolution has played a pivotal role in bolstering SME resilience and promoting economic vitality.

As part of the '100-million-RMB interest-free loan for public welfare' initiative, FinVolution supplied more than 120 million RMB, free of interest, to 11,000 SMEs, signifying its commitment to fostering rural revitalization.

In a quest to reinvigorate rural areas and spur common prosperity, FinVolution continues to invest bigger sums in public welfare. Throughout 2022, it helped to democratize digital education and promote agricultural products in impoverished areas of China, addressing practical issues like local education and economic growth.

Embracing Environmental Sustainability

With a focus on nature's adaptability to climate change, FinVolution forged strategic partnerships to preserve biodiversity and enhance ecological resilience. It joined hands with the Fujian Birding Association, using AI-powered recognition technology to help protect the Chinese crested tern, an endangered species. 

Moreover, tree-planting and afforestation efforts exemplify FinVolution's commitment to environmental conservation. It teamed up with the Fuzhou Charity Federation in Fujian Province to plant saplings to make the city greener. Its Indonesian unit planted 500 mangrove trees together with local communities in northern Jakarta, providing a habitat for marine life.