Peak's Cubeler Lending Hub to Facilitate Hua Xia Bank Financing of Vehicle Purchases
Montreal, Quebec--(Newsfile Corp. - September 3, 2019) - Peak Positioning Technologies Inc. (CSE: PKK) ("Peak" or the "Company") today announced that automobile dealer Xi'an Fenghui Automobile Service Company ("FASC") will use the Company's Cubeler commercial lending platform to help qualify its clients for financing from Hua Xia Bank (http://www.hxb.com.cn/en/).
FASC is a prominent automobile dealer in Xian, the capital of Shaanxi Province. FASC began purchasing credit analysis reports produced by Cubeler from the Company's Asia Synergy Data Solutions ("ASDS") subsidiary in the second quarter of 2019. After successfully using the reports to determine whether or not to extend credit to certain clients, FASC and ASDS created a financing program using Cubeler's credit analysis capabilities to help qualify clients for credit from FASC's bank partners. Hua Xia Bank, which began doing business with the Company's Asia Synergy Credit Solutions ("ASCS") subsidiary earlier this year, is the first bank to subscribe to the program.
"We are very excited about this new program and its potential impact on our operations going forward," commented FASC CEO, Mr. Lin Li. "The response from our banking partners has been very positive with regards to the efficiency at which we are now able to help them make credit decisions. We look forward to continuing our work with ASDS to include additional banking partners to the program in the near future," concluded Mr. Li.
Under the terms of the program, ASDS will receive a service fee for every client file analyzed regardless of whether or not the analysis leads to credit being extended to the client by Hua Xia Bank. The link created by the program between Hua Xia Bank and ASDS allows the Peak Group to continue to build on its relationship with China's 14th largest bank.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is an IT portfolio management company whose mission is to assemble, finance and manage a portfolio of promising companies and assets in some of the fastest-growing tech sectors in China, including fintech, e-commerce and cloud-computing. Peak provides a bridge for North American investors who wish to participate in the continued digitization of China's industrial sectors through the latest advancements in technology. For more information: http://www.peakpositioning.com
For more information, please contact:
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 231
Johnson Joseph, President and CEO
514-340-7775 ext.: 501
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Forward-Looking Statements / Information:
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