Jianpu Completes Registration of its Financial Services Application with China's NIFA
Jianpu Technology, a leading independent open platform for the discovery and recommendation of financial products in China, has announced that it has completed its registration and the required information filing for its mobile application, Rong360, with the National Internet Finance Association of China (NIFA).
The NIFA are the national self-regulatory body for China's internet finance industry that is backed by the People's Bank of China (PBOC), Jianpu noted in a press release.
David Ye, Co-founder, Chairman and Chief Executive Officer, Jianpu, said: “In our almost nine years of operations, Rong360 | Jianpu Technology has long been cultivating a strong track-record when it comes to user privacy protection, data encryption and information safety, treating the security and protection of user data as a critical component and highest priority of our business. We are pleased that the Rong 360 App is included amongst the select accredited list for registration with NIFA. It demonstrates the recognition by government authorities of our secure and reliable operation and service. We will continue to work directly alongside NIFA as we promote intelligent financial services, advance financial inclusion, reduce the barrier and cost of financial services and finally, ensure and encourage consumer rights protection and education.”
“As mobile internet continues its expansion as an integral part of our daily lives, cybersecurity is more critical than ever. We will continue to embrace regulatory compliance and collaborate closely with regulators to promote the healthy and sustainable development of the digital finance service industry. With our proprietary technology capabilities and a strict user privacy protection mechanism in place, we remain dedicated to being everyone's financial partner, providing personalised and convenient financial services to our users while firmly safeguarding their personal information,” Ye continued.
PBOC has been tightening its oversight of financial mobile applications to reduce information-associated financial risks and protect user data privacy, reports Jianpu. In September 2019, it issued financial mobile application software security management specifications, and tasked NIFA to execute the mobile app registration process.
Financial institutions, such as banks, brokerage houses, fund managers, insurance companies, payment service providers, and other ecosystem participants including FinTech companies, are encouraged to submit application and self-inspection reports on their financial services apps. NIFA is responsible for the registration and filing process, and publishes the list of accredited mobile applications accordingly.
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