CLPS Incorporation announces the development of a new generation of loan management system to facilitate the digital transformation of banks

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HONG KONG, July 7, 2022 /PRNewswire/ — CLPS Incorporation (the “Company” or “CLPS”) (Nasdaq: CLPS), today announced the development of a next-generation loan management system (the “Loan Management System”) ), a product aimed at small and medium-sized banking institutions. CLPS plans to launch the loan management system in hong kong and South East Asia region in 2023.

Digital transformation weighs heavily on traditional banks hong kong. In scenarios that are difficult for traditional banks to cover, virtual banks use their data and technological advantages to win more customers. In response, traditional banks have increased their investments in using innovative technologies to keep up with the trend of online banking, especially as people have begun to adjust to the “new normal” brought by the pandemic. Such a strategy involves the adoption of new product designs and the gradual transformation of the legacy system without affecting the operation as a whole, in order to meet future system updates and developments.

In preliminary market research conducted by CLPS, it determined the eminent demand for a loan management system among its banking customers in hong kong and South East Asia. With this promising result, CLPS has optimized its loan management system by integrating its mature products with innovative technologies such as blockchain, robotic process automation (RPA), optical character recognition (OCR) and facial recognition. . The goal of optimization is to achieve a more complete and streamlined loan process flow, including in mortgage application, credit check and direct debit, among others, ensuring the privacy and security of transmission of information while effectively reducing processing time. As a result, customers can apply for a loan easily anytime and anywhere, which reduces the operating costs of banking institutions and enjoys a wider range of new business opportunities.

In today’s market, bank loan management systems that adopt fintech-based technology are mainly designed for consumer personal loans and P2P loans. This situation led CLPS to develop a new system capable of supporting complex scenarios such as mortgages, thereby broadening the scope of the product and filling the gap in the market.

To shorten the product launch cycle, the new system also consists of a parametric configuration that will allow banks to customize the design according to their respective credit rules and target customers. Moreover, the secure and efficient integration interface allows it to be freely assembled and disassembled as functional components. Additionally, it can be seamlessly integrated with a bank’s existing core banking system and other existing systems to adapt to rapidly changing business needs.

Mr. Jackson YuenProduct Manager of CLPS’ Loan Management System, said, “From a high-level design perspective, we are leveraging our expertise in innovative technologies and our fintech achievements to optimize our new product, creating a new generation of loan management system that will reduce costs and increase efficiency for banks.”

“The digital products and services offered by traditional banks need to be improved by hong kongbecause it actively promotes technological innovation in the banking industry,” said Mr. Raymond Lin, CEO of CLPS. “We hope to make this an entry point to invest more in product development and help our customers build distinctive businesses to stay competitive in the future of digital transformation.”

About CLPS Embedding

Based at hong kong, CLPS Incorporation (the “Company”) (Nasdaq: CLPS) is a global provider of information technology (“IT”) consulting services and solutions focused on the banking, insurance and financial services. The company serves as an IT solutions provider to a growing network of customers in the global financial services industry, including major financial institutions in the United States, Europe, Australia, South East Asia and Hong Kong SAR, and their computer centers based in the PRC. The Company has 19 delivery and/or research and development centers to serve different customers in various geographies. Continent China centers are located in Shanghai, beijing, Dalian, Tianjinbading, Xi’an, Chengdu, Canton, Shenzhen, Hangzhouand Hainan. The remaining eight World Centers are located in the Hong Kong SAR, UNITED STATES, Japan, Singapore, Malaysia, Australia, Indiaand The Philippines. For more information about the Company, please see: https://ir.clpsglobal.com/or follow CLPS on Facebook, instagram, LinkedInand Twitter.

Forward-looking statements

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as than amended. Forward-looking statements include statements regarding the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, could cause the Company’s actual results and performance to differ materially from these forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary statement, including, without limitation, risks and uncertainties relating to the Company’s expectations regarding the growth, performance and results of future operations of the Company, the Company’s ability to capitalize on various business, mergers and acquisitions, technological and other opportunities and initiatives, as well as the risks and uncertainties described in the Company’s latest reports and filings with the SEC . These reports are available upon request from the Company or the Securities and Exchange Commission, including through the SEC’s website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any forward-looking statements after the date hereof or after the respective dates on which such statements are otherwise made.

Contact:

Constitution of the CLPS
Rhon Galicha
Investor Relations Office
Phone: +86-182-2192-5378
E-mail: [email protected]

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