The partnership signals Lu International’s plan to capitalise on growth opportunities for financial services in some of the world’s up and coming economies, throughout and beyond Southeast Asia

SINGAPORE - Media OutReach - 18 August2020 - Lu International(Singapore) Financial Asset Exchange (PTE) Ltd. ('Lu International'), asubsidiary of China's leading retail fintech enterprise Lufax Holding, andKASIKORNBANK, one of Thailand's largest banks, have recently announced astrategic partnership to meet rising demands for digital financial services inThailand. The partnership allows KASIKORNBANK to leverage Lu International'stechnology and expertise to establish a comprehensive online wealth managementplatform for retail investors in Thailand. This platform will be jointlyoperated and managed by both parties.

Lufax Holding leveragesits innovative 'cloud-exporting' model to empower the banking customer with itstechnological and operational advantages. The jointly built wealth managementplatform will be deployed on a fintech empowering platform developed by LufaxHolding. In recent years, Lufax Holding has adopted big data, artificialintelligence, cloud computing and other emerging technologies to successfullydevelop a number of fintech solutions, some of which have already been rolledout -- such as the investor suitability management system, 'Know Your Intention(KYI)' model that integrates the company's rich experiences in financialoperations, and strong research and development capabilities.

"This strategiccooperation with KASIKORNBANK is a strong and mutually-beneficial alliance.Lufax Holding, together with Lu International, has the technologicalcapabilities and wealth of experience in doing business globally to helpaddress a gap in the Thailand market." Weighed in Greg Gibb, CEO of LufaxHolding, "Together with KASIKORNBANK who has a long history of local operationsand has built a strong customer base in this market, we believe thispartnership will accelerate the pace of digital transformation within thefinancial institution industry in Thailand and across the Southeast Asianregion."

Lu International was setup in Singapore in 2017 as Lufax Holding's first international arm. Since then,it has progressively extended its operations and market reach, which now spansseveral markets in Asia, with over 380,000 registered customers.

Kit Wong, CEO of LuInternational, commented on the move, "Being based in Singapore, a gateway toSoutheast Asia, as well as being one of Singapore's first wealth managementplatforms providing end-to-end online account opening services and investmentoperations, we are well positioned to be the fintech enabler of choice fortraditional financial institutions in the region that want to provideconvenient, efficient, intelligent and personalised digital financial servicesto investors." In the coming months, Wong added, "We will continue to grow ourcapabilities in Southeast Asia, extending our footprint in the region to meetthe needs of our customers and support the business growth of our partners."

LU Global is the onlinewealth management mobile platform operated by Lu International that offerscustomers with round-the-clock access to a wide range of high-qualityinvestments. Utilising the technology developed by Lufax Holding, LU Global hasinstated a robust risk management system that adopts strict Know Your Product(KYP) and Know Your Customer (KYC) compliance procedures, alongside anAnti-Money Laundering (AML) and anti-fraud system.

Kattiya Indaravijaya, CEOof KASIKORNBANK, said, "The world is about to enter another wave of digitaldisruption as big players like commercial banks morph into fintechorganisations. It is imperative that we quickly adjust ourselves and strengthenour capabilities to seek new business opportunities. With the necessarytechnical support coupled with fintech innovation, KASIKORNBANK hassuccessfully achieved digital transformation through the partnership with LuInternational, as well as the help of an open banking services model. We areready to create a digital service platform to allow Thai individuals andbusinesses to go beyond borders to capitalise on massive opportunities in the'Era of Asia'."

Established in 1945,KASIKORNBANK is the fourth-largest commercial bank in Thailand. It has anextensive customer base in the country with 17.3 million customers, including12.7 million online users. KASIKORNBANK has been actively promoting thedigitisation process in recent years and is committed to providing a full rangeof financial services through digital platforms to its customers.

About Lufax Holding

Lufax Holding is aChina-leading retail fintech enterprise operating in businesses mainlyincluding retail credit facilitation and online wealth management. In wealthmanagement, Lufax Holding provides diverse and customised products and servicesfor the Chinese middle-class and affluent investors throughthe platform LU.com. Currently, it has established a wide range of asset-endcooperation ties with over 400 financial institutions.

About LU Global

LU Global is the onlinewealth management platform operated by Lu International (Singapore) FinancialAsset Exchange Pte Ltd (Co. Reg No 201702479G). Lu Global is a mobileinvestment and wealth management platform operated out of Singapore. It offers 24/7 online access to a wide range of highquality investments, and offers investors theopportunity to invest easily with small investment amounts, and with lowcommitment. The customers have the ability toinvest with maximum flexibility while still being able to benefit from superiorreturns. For more information, please visit https://www.lu-global.com/.