Benzinga | Jun 16, 2021 06:05AM EDT

Lufax Subsidiary Ping An Puhui Launches AI-Powered Smart Loan Solution

Lufax Holding Ltd ("Lufax" or the "Company") (NYSE:LU), a leading technology-empowered personal financial services platform in China, today announced that its retail credit facilitation platform subsidiary, Ping An Puhui ("Puhui"), has launched a smart loan solution powered by artificial intelligence (AI). Named "Xingyun", it leverages AI to simplify the loan application process, reducing the average time spent in a loan application process for small and micro customers by 44%, to improve their access to financing.