Good day, ladies and gentlemen, and thank you for standing by and welcome to the Jiayin Group Fourth Quarter 2019 Earnings Conference Call. And at this time, all participants are in listen-only mode. Later, we'll conduct a question-and-answer session and instructions will follow at that time. As a reminder, we are recording today's call. And if you have any objection, you may disconnect at this time.
Now, I will turn the call over to Julia Qian, Managing Director of The Blueshirt Group Asia. Ms. Qian, please proceed.
Hello everyone. Thank you all for joining us on today's conference call to discuss Jiayin Group's financial results for the fourth quarter and the full year of 2019. We released the result early today. The press release is available on the Company's website as well as from Newswire Services. On the call with me today are Mr. Yan Dinggui, Chief Executive Officer; Mr. Fan Chunlin, Chief Financial Officer; and Mr. Xu Yifang, Chief Risk Officer.
Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provision of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve in inherent risks and uncertainties. As such, the Company's actual results may be materially different from the expectations expressed today. Further information regarding these and other risks and uncertainties is included in the Company's public filing with SEC.. The Company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Also, please note that unless otherwise stated, all figures mentioned that during the conference call are in Chinese RMB.
With that, let me now turn the call over to our CEO, Yan Dinggui. Mr. Yan will speak in Chinese and then, our IR Director, Shelley Bai will translate his comments to English. Go ahead, Mr. Yan.
Hello everyone. Thank you for joining our fourth quarter and full-year 2019 earnings conference call. Despite the ever-evolving regulatory environment and the economic uncertainties, we made progress on many fronts in 2019. Since our successful listing on NASDAQ in May last year, we have been strategically transforming our business model in order to drive sustainable long-term growth. As you know, we disposed of Jiayin and integrated Geerong, our fintech platforms that committed to connect consumers with financial institutions with use of AI and the big data analysis as a core technology. This critical restructuring streamlined our operations, enhanced our risk management system and accelerated our collaborations with financial institutions.
In the second quarter, right after the IPO, we started transitioning funding from in the individual institutions. We are glad to see that 45% of loan originations were funded by institutions in March. So far, we have successfully on board in current institutions and have another 20 institutions in preparation. Our institutional onboarding process was affected by the six-week lock down in China starting in February 2020, due to coronavirus control.
Our market has been changing rapidly. In the fourth quarter,
Founder, Director & Chief Executive Officer
Chief Financial Officer
Director and Chief Risk Officer
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