Fintech

Stories about how technology is used to enhance financial services, covering banking and securities

Lexin Fintech offers personal loans to consumers of ages between 18 and 36, and matches these with various funding sources. Photo: Bloomberg

China crackdown snares IPO by JD.com-backed online micro lender

Lexin Fintech Holdings, a Chinese online micro lender backed by JD.com, sharply cut the amount it hoped to raise in a planned US initial public offering, after shares in its rivals declined broadly on the heels of a crackdown by Beijing on online consumer loan platforms.