CITIC Bank enters P2P fund custody

P2P platform CreditEase and China CITIC Bank signed a strategic cooperation agreement, CITIC Bank will provide financial settlement supervision for CreditEase, and enter the P2P fund custody business.
According to Yixin, after the cooperation, Yixin will use the bank's fund custody advantage to isolate the client's transaction funds and the platform, and from the flow of funds to the contract, to the remote registration of the account, to the settlement of funds to check the whole process. CreditEase CEO Tang Ning said that this can effectively reduce the risk of P2P platform running, improve the security of P2P investment and financial management methods, and protect the maximum benefit of investment customers.
In addition to fund settlement supervision, CreditEase and CITIC will also conduct in-depth cooperation in the field of wealth management, mainly for the customers of the CreditEase Fortune Club, and provide more value-added services to CreditEase customers.
Yixin Company and CITIC Bank jointly selected the trustworthy IT service provider Eigpay to complete the project.