Chinese fintech firm Pintec Technology has entered into an agreement with West (Yinchuan) Guarantee to collaborate in the financial field.

Based in China, West Guarantee is a financial service platforms established in 2014.

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The company offers different guarantee services for industries such as manufacturing, education and transportation, among others.

Both the companies will collaborate in the fields of technology and financial service areas in a bid to increase the efficiency and to develop the inclusive finance in the country.

The companies will use big data, advanced risk management models, and other adavanced to achieve this.

The partnership will leverage Pintec’s fintech capabilities and West Guarantee’s financial experience.

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The partners aim to create a cooperation mechanism to advance implementation of cooperation in supply chain finance, consumer finance, and inclusive finance.

Pintec has worked different business and financial partners, including Xiaomi, Minsheng Securities, Yunnan Trust, Guoyuan Securities and Bank of Nanjing, among others.

In April last year, East West Bank, a Southern California-based independent bank, chose Pintec Technology to support its digital transformation plan.

Prior to that, Pintec acquired Australian credit risk related software and services provider InfraRisk for an undisclosed amount.

In 2018, United Overseas Bank (UOB) and Pintec formed a joint venture Avatec.ai (S), which will assist the banks and finance companies to streamline credit quality assessment of potential customers.