Anti-Fraud Firm Bangsun Tech Will Use USD23.6 Million Funding to Improve Services
Tang Shihua
DATE:  Mar 05 2018
/ SOURCE:  Yicai
Anti-Fraud Firm Bangsun Tech Will Use USD23.6 Million Funding to Improve Services Anti-Fraud Firm Bangsun Tech Will Use USD23.6 Million Funding to Improve Services

(Yicai Global) March 5 -- Bangsun Technology, a Chinese financial anti-fraud and risk control technology provider, has secured CNY150 million (USD23.62 million) in new funding, to be used for improving product performance and develop a new analytics platform.

Based in Hangzhou, Bangsun will also use C-round funding, led by of State Development & Investment Corporation (SDIC), to boost its networks and after-sales system, as well as to create a real-time intelligent analysis and processing platform, online media outlet 36kr reported.

The company has independently developed a full-process real-time financial risk control system and anti-fraud products covering real-time credit, machine learning, machine defenses, data services, anti-money laundering and fingerprint security.

China's financial risk control sector is transitioning from a focus on semi-real-time systems to full real-time, providing room for Bangsun Technology to grow. Revenue growth has exceeded 200 percent for three consecutive years, while contracts signed last year were worth around CNY120 million.

More than 200 large and medium-sized financial units work with Bangsun Technology, and 8 of China's 12 joint-stock banks have worked it previously. 80 percent of the country's top 30 payment platforms have cooperated with Bangsun, CEO Wang Xinyu said.

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Keywords:   FINANCING,Real-Time Financial Risk Monitor,Fintech,IT Service,Bangsun Technology