LexinFintech Expands Product and Partner Network to Further Capture China's Consumption Market Opportunities

SHENZHEN,China,April 19,2019 --LexinFintech Holdings Ltd. ("Lexin") (NASDAQ: LX),a leading consumer financeplatform for educated young adults in China,unveiled widening product and partner network at its Lexin Partner Conference 2019,as part of its efforts to further capture the huge potential of China's consumption market.

Lexin announced the launch of Le Card,an APP that offers young people lifestyle benefits and privileges,ranging from KFC coupons to 20%-off movie tickets. It will also increase the types of services available on Fenqile,its e-commerce-driven platform,as young people are consuming more services,such as flight tickets and training services,than ever before.

This comes as China's 149 million Generation Z,referred to those born in 1995 and after,has become increasingly the driving force behind the country's consumption market,accounting for a quarter of overall e-commerce users in China,according to market research company iResearch.

Lexin CEO Jay Wenjie Xiao speaks at Lexin Partner Conference 2019 in Shenzhen,China on April 18,2019.

"Lexin started as a consumer finance platform,but we are looking forward to going beyond that. We will continue to focus on our customer cohort,the educated young adults,and cater to their consumption needs by offering even more relevant services," said Mr. Jay Wenjie Xiao,Lexin's CEO.

The rising Generation Z,who are young and generally born to better-off families than any of the older generations,is significantly different from previous generations. They are typically better educated and more optimistic about the future. They also have stronger consumption needs and care more about the quality and distinctiveness of what they purchase.

Generation Z form the backbone of the consumer finance market,which has been growing as consumption becomes the engine of China's GDP growth,taking up 76.2% of the growth in 2018.

Strengthening Lexin's advantages in funding

To tap the consumption needs of the new generation requires the joint efforts of financial institutions and fintech players,according to Mr. Xiao.

At the Lexin Partner Conference,the company announced partnerships with 19 financial institutions,including some of the largest ones in China,such as Industrial and Commercial Bank of China,PICC Group,China Minsheng Bank,and Shanghai Pudong Development Bank.

Lexin announced partnerships with 19 financial institutions.

The financial institutions will largely act as funding sources for Lexin,while Lexin will leverage its technological capabilities in customer acquisition,operations,risk management,and fund matching to jointly serve the educated young adult market.

Lexin utilizes big data,cloud computing and artificial intelligence to streamline the traditional process of loan applications and make it possible to manage the risks of young customers who usually don't have any credit history.

Its proprietary risk management Hawkeye,with more than 1,000 decision rules and over 7,500 data variables,is able to assess the creditworthiness of its customers within seconds. More than 98% of loan applications can be handled automatically.

Lexin will also establish a new team this year to provide fintech solutions to its financial partners,said Mr. Xiao.

As of the end of 2018,Lexin has cooperated with more than 100 financial institutions,and institutional funding contributed close to 70% of Lexin's new loan origination volume in the fourth quarter of 2018.

The increasing network of partners has resulted in a significant increase in Lexin's loan facilitation business. Its loan facilitation and servicing fees increased by 448% from RMB379 million in 2017 to RMB2.1 billion in 2018.

About LexinFintech Holdings Ltd.

LexinFintech Holdings Ltd. is a leading online consumer finance platform for educated young adults in China. As one of China's leading financial technology companies,Lexin integrates its e-commerce-driven installment finance platform,Fenqile,with advanced risk management technologies,the Company's Dingsheng asset distribution technology platform,and the Company's Juzi Licai online investment platform for individual investors,to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data,cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company's more than 30 funding partners,which include commercial banks,consumer finance companies,and other licensed financial institutions.

For more information,please visit http://ir.lexin.com.

To follow us on Twitter,please go to: https://twitter.com/LexinFintech.

For media inquiries,please contact:

Limin Chen

Tel: +86 (755) 3637-8888 ext. 6993

E-mail: liminchen@lexin.com

View original content to download multimedia:/news-releases/lexinfintech-expands-product-and-partner-network-to-further-capture-chinas-consumption-market-opportunities-300835103.html