Market Overview

PINTEC Empowers East West Bank in its Digital Transformation

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Pintec Technology Holdings Ltd. (("PINTEC", NASDAQ:PT), a leading
independent technology platform enabling financial services in China,
today announced a business alliance with East West Bank, a wholly owned
subsidiary of East West Bancorp (NASDAQ:EWBC). Leveraging its leading
fintech capabilities and experience, PINTEC will enable East West Bank
to provide efficient digital banking services and support the bank in
its digital transformation.

In this arrangement, PINTEC will apply its big data and artificial
intelligence technologies to develop customized services for East West
Bank, targeting the bank's Chinese and Chinese-American customers. The
new technologies and services, covering application process, interactive
design, information collection, identification and verification, and
client retention, will improve the bank's user experience and enhance
its customer acquisition capability. In the future, PINTEC and East West
Bank will explore more cooperation in mobile product innovation,
payment, and business operations.

East West Bank is the largest independent bank headquartered in Southern
California. It operates more than 130 locations across the U.S. and
Greater China, with an exclusive focus on those two markets. The bank
ranks among the 25 largest publicly traded banks in the U.S. by market
capitalization. In 2019, Forbes recognized East West Bank as No. 8 in
"America's Best Banks." Velo by East West BankTM is a global
digital banking services platform owned by East West Bank. It is a fast,
easy, and safe way to access premium financial products and services
offered by East West Bank, as well as useful tips and education to
connect customers to emerging opportunities.

"East West Bank is devoted to digital banking innovation to bring a
superior mobile banking experience to our customers--especially Chinese
clients in and coming to America--and to boosting the efficiency of
cross-border financing," said Catherine Zhou, Executive Vice President
and Head of Consumer and Digital Bank at East West Bank. "PINTEC is a
valuable collaborator in our digital transformation drive, which
requires not only the application of new technologies, but also
breakthroughs in business process, technology framework, and integration
of innovation and business value."

A recent McKinsey report on digital innovation in the banking industry
pointed out that tightening regulations, changing customer behavior and
requests, and a new internet model, are disrupting the traditional
banking industry landscape. Traditional banks need to undergo digital
transformation, including adopting a new business model, user-oriented
digital services, and deployment of fintech solutions, to embrace the
challenges and new opportunities, said the report.

"The digital transformation of traditional banks is an irreversible
global trend," said Zhou Jing, President of PINTEC. "With our fintech
capabilities and experience, PINTEC will help East West Bank improve its
competitiveness and provide efficient and convenient mobile financing
services through digital innovation. The two sides will explore more
in-depth cooperation in the future to develop comprehensive financing
solutions to better serve customers."

The alliance with East West Bank is a good example of how PINTEC
empowers financial institutions, and it also represents important
progress in PINTEC's international expansion. PINTEC would like to tap
the international market with its innovative technologies and
experience. Empowered by PINTEC's fintech solutions, financial
institutions and business partners can create new business growth
opportunities and provide their customers with better experience, Zhou
added.

As part of PINTEC's international expansion initiatives, PINTEC launched
two joint ventures in Singapore to serve the Southeast Asian market:
PIVOT Fintech Pte. Ltd ("PIVOT"), formed in 2017 with FWD Group to
provide intelligent wealth management and robo-advisory services, while
Avatec.ai (S) Pte. Ltd, formed in 2018 with United Overseas Bank Ltd. to
offer digital credit assessment and decisioning solutions.

Both ventures have made progress since establishment. Avatec has begun
to provide digital risk management solutions and data products to banks,
tech companies and fintech companies in Indonesia and Vietnam. PIVOT is
working on robo-advisory solutions with clients in Singapore, Malaysia
and Hong Kong.

About East West Bank

East West Bancorp is a publicly owned company with total assets over $41
billion and is traded on the Nasdaq Global Select Market under the
symbol "EWBC." The Company's wholly owned subsidiary, East West Bank, is
one of the largest independent banks headquartered in California. East
West Bank is a premier bank focused exclusively on the United States and
Greater China markets and operates over 130 locations worldwide,
including in the United States markets of California, Georgia, Nevada,
New York, Massachusetts, Texas and Washington. In Greater China, East
West's presence includes full-service branches in Hong Kong, Shanghai,
Shantou and Shenzhen, and representative offices in Beijing, Chongqing,
Guangzhou, Taipei and Xiamen. East West Bank offers 24-hour
English-Chinese bilingual banking, auto telephone banking and mobile
banking services. For more information on East West Bank, visit the
Company's website at www.eastwestbank.com.

About PINTEC

PINTEC is a leading independent technology platform enabling financial
services in China. With its mission to "Power the Future of Finance",
PINTEC aims to advance financial services by providing customizable and
modular fintech solutions to its financial and business partners. In
fields such as online travel, e-commerce, telecommunications, online
education, SaaS Platforms, financial technology, internet search, and
online classifieds and listings, PINTEC enables financial services for
institutional partners with point-of-sale financing solutions, personal
installment loan solutions, business installment loan solutions, wealth
management solutions and insurance solutions. PINTEC's services include:
consulting services, SaaS technology services and other value-added
services. PINTEC has cooperated with a number of business partners and
financial partners, including without limitation Xiaomi, Qunar, Ctrip,
China Telecom BestPay, Vip.com, shouqianba.com, Minsheng Securities,
Orient Securities, Yunnan Trust, Guoyuan Securities, China National
Investment & Guaranty Corporation, Fullerton Financial Holdings. PINTEC
has launched two joint ventures to serve the Southeast Asian market:
Avatec.ai (S) Pte. Ltd, formed in 2018 to offer credit assessment
services and solutions, while PIVOT Fintech Pte. Ltd ("PIVOT"), formed
in 2017 to provide robo-advisory services. On October 25, 2018, PINTEC
was officially listed on the Nasdaq Global Market with American
depositary shares trading under the symbol "PT".

For more information, please visit www.pintec.com

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