Lufax Holding Ltd is a leading technology-empowered personal financial services platform based in China. The company was founded in 2011 as an online lending platform under the name "Shanghai Lujiazui International Financial Asset Exchange Co., Ltd." It was later rebranded as Lufax in 2015. Lufax operates primarily in the wealth management and retail lending sectors, providing a range of financial products and services to its customers.
Lufax's focus is on its online wealth management platform, which offers a diverse range of investment options to individual investors. The platform leverages advanced technology and data analytics to provide personalized investment advice and portfolio management services. Lufax aims to empower individuals to make informed financial decisions and optimize their investment returns.
The company has implemented rigorous risk control measures and utilizes advanced algorithms and data analysis to assess the creditworthiness of borrowers and the quality of investment products. This commitment to risk management has helped Lufax build a reputation for trust and reliability among its customers.
Lufax is listed on the New York Stock Exchange (NYSE) under the ticker symbol "LU." The company went public in October 2020, raising significant funds through its initial public offering (IPO). The successful IPO highlighted investor confidence in Lufax's business model and growth prospects in the Chinese fintech market.
In addition to its wealth management services, Lufax also operates a retail lending platform that offers consumer loans and facilitates peer-to-peer lending. The company utilizes its proprietary risk assessment models and partnerships with financial institutions to provide accessible and affordable credit options to individuals.