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CredEx Finance Technology Uses Cloudera to Expand and Innovate for the Future

Press Release from Cloudera Inc

BEIJING, July 19, 2017 /PRNewswire/ -- Cloudera, Inc. (NYSE: CLDR), the leading provider of the modern platform for machine learning and advanced analytics, announced that CredEx Finance Technology (CredEx), a leading financial services company in China, has implemented Cloudera EnterpriseData Hub to manage and support its increasing big data needs and business expansion.

Cloudera, Inc. (PRNewsfoto/Cloudera, Inc.)

CredEx, with over five million registered users in more than 70 cities throughout China, draws on the mobile internet, big data based risk control and an anytime access to borrowing or repayment unique product design. With the newly integrated intelligent analysis platform powered by Cloudera, CredEx's latest version of its mobile app can efficiently manage diversified, unstructured user data to meet the challenges of massive data and high-speed subscriber growth. This modern architecture allows CredEx to flexibly support its business expansion and continue to innovate and lead the global financial technology industry.

In 2016, CredEx spent eight months expanding their services from Shenzhen to the rest of China, allowing more people to experience the convenience of their online loan services. "We were excited to reduce the application processing time from five minutes down to three by cutting four major processing areas and over 20 operating steps. As a result, we experienced rapid business growth, but realized our current system was not scalable," said Chen Dingwei, chief technology officer at CredEx. "We knew we had to simplify the process and enhance the user experience while complying with big data credit risk audits. And, we needed system integration with a variety of resources to operate smoothly and rapidly. This became our list of key requirements for our team."

Cloudera's accumulated customer successes and use cases within financial technology, as well as experience across a wide variety of industries with its global partner ecosystem, supported CredEx's business requirements.

"Cloudera clearly offers the most thorough and highest quality open source platform," continued Dingwei. "Cloudera's performance score was twice as good as its nearest competitor. It addressed the demand of system matching in the testing phase unlike other data processing platforms that could only wait until an upgrade was completed. Cloudera systems' support for standard interfaces allowed our CredEx technical team to save time while familiarizing themselves with the system."

"We are confident that we can get timely, convenient and secure service using Cloudera's machine learning and advanced analytics platform. From data capture and storage to process and analysis, we are prepared to embrace new technologies in the future, such as biometrics, artificial intelligence and more," concluded Dingwei. "We firmly believe that Cloudera can provide a powerful experience and the most professional service now and for the long term."

The advanced analytics and machine learning platform, based on industry-leading product Cloudera Enterprise Data Hub, is a modern data-in-motion solution which provides a single product with many applications to turn data into business value while maintaining security.

"The financial technology industry is ever-changing and the only way to seize market opportunities is to respond quickly. The CredEx app is a leader in its field for this reason," said Ling Qi, general manager of Greater China and vice president at Cloudera. "In our cooperation with CredEx, our mature and proven advanced analytics solutions and services resolved difficult technical issues for CredEx. This made it possible for CredEx to focus on its core business and pursue higher business objectives today, while scaling for the future."

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About Cloudera
Cloudera delivers the modern platform for machine learning and advanced analytics built on the latest open source technologies. The world's leading organizations trust Cloudera to help solve their most challenging business problems by efficiently capturing, storing, processing and analyzing vast amounts of data. Learn more at cloudera.com.

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