On October 8, the leading technology-empowered personal financial services platform named Lufax formally submitted the IPO prospectus to be listed on the New York Stock Exchange. The two main services of Lufax are retail credit facilitation and wealth management. Lufax has not only the scientific and technological attributes and risk control capabilities that traditional financial institutions do not have, but also the financial background resources and channel advantages that cannot be compared with pure online science and technology financial platforms.

One of the interesting things I found is a cutting-edge data-driven risk management model. Lufax embeds advanced AI, big data, blockchain technology and analytics into business processes, resulting in a highly sophisticated, holistic and adaptable risk management system. On the basis of the large amount of data accumulated in its operation over the past decade, Lufax has created a customer risk identification system (KYC, know your customer), a product risk identification system (KYP, know your product), and a series of motivation identification models (KYI, know your intention) to analyze and determine the customer's intentions and possible next actions, such as the tendency to buy certain financial products and to view the latest financial market information.

Are you optimistic about the future development of Lufax?

If you are interested in Lufax, you can read the prospectus from the following link.

https://www.sec.gov/Archives/edgar/data/1816007/000119312520265571/d934009df1.htm