Qfin Holdings (also known as Qifu Technology) is a Credit-Tech platform in China that connects consumers and SMEs who need loans with banks and other financial institutions that have capital to lend. Qfin does not operate as a bank — it acts as a technology intermediary handling borrower acquisition, credit assessment, loan matching, and post-loan monitoring on behalf of its financial institution partners. The core product for end users is a digital revolving credit line, accessible through the Qifu Jietiao app, targeting underserved Chinese consumers and small businesses with limited credit history. Qfin has partnerships with 167 financial institutions across China. Qfin earns service fees from financial institutions under two models: a capital-heavy model where Qfin bears credit risk and earns higher fees, and a capital-light model where banks bear credit risk and Qfin earns a smaller facilitation fee. Management shifts dynamically between these models based on the risk environment. Beyond its core lending business, Qfin licenses its credit and risk technology (branded FocusPRO) to banks under a SaaS or on-premise model — a small but fast-growing segment. Qfin also launched international operations in the UK in 2025, with plans to expand into Europe, Latin America, and Southeast Asia. Qfin describes its strategy as "One Core, Two Wings," with the core domestic credit business complemented by the technology licensing and international expansion businesses.