BEIJING (dpa-AFX) - Yiren Digital Ltd. (YRD) has partnered with Indonesian firms klikUMKM and Artha Digital Investama, part of AG Network, to establish a strategic joint venture.
Combining Yiren Digital's AI-driven financial technology with AG Network's local expertise, the venture aims to enhance digital financial services and promote financial inclusion in Indonesia.
Yiren Digital will integrate its proprietary AI capabilities, including risk management, automated customer service, and data-driven marketing, to streamline operations. AG Network's regulatory expertise and market presence will facilitate swift approval and expansion.
The JV is set to launch in the second half of 2025, with plans for further digital collaboration across AG Network's business sectors. CEO Ning Tang emphasized the partnership's role in advancing financial innovation and inclusion in Indonesia's growing economy.
Thursday, YRD closed at $7.38, up 10.64%, and remains unchanged in after-hours trading on the NYSE.
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