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Stock impact report

CLPS Incorporation Announces New Generation Credit Card System Product, CAKU, to Facilitate Digital Transformation in Banking

CLPS Incorporation (CLPS) 
Company Research Source: PR Newswire
HONG KONG, April 26, 2022 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced the launch of the commercial edition of its new generation credit card system product, CAKU. Built on an open source architecture, CAKU offers fast implementation and flexibility for replacing existing credit card system, giving global banking institutions a competitive edge in digital transformation.As the corporate banking business of global banks becomes saturated, the retail banking segment has developed rapidly, with the credit card business a key component. At the same time, the Internet industry's upturn has challenged traditional financial sector. Internet finance and fintech, which have grown rapidly in China, have broadened the channels available to banks for acquiring customers in credit card business, increasing the market penetration rate of consumer credit. Due to the emergence of various card issuance and consumption channels, as well as the increase in Show less Read more
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