China's peer-to-peer industry lacks the most important people

The author has always believed that China's peer-to-peer industry has always lacked a most important entry, that is now the main role of the Electronic Business finance: The major electric dealers, including Ali, Beijing-east, Tencent, etc. mainly.

Through frequent commodity real-time transactions and the accumulation of data streams, the electronic commerce has virtually formed a large data warehouse based on Internet, which can carry out online data collection on the net, which is lack of most peer-to-peer platforms at the moment.

Recently, there is a news that Ali Finance, Tencent and Shanghai, respectively, and Beijing's racket loan contacts, hope to buy a share or acquisition of an entity of the Peer-to-peer company, although the authenticity of the message to be verified, but also just verified my October article in the prediction: "Peer-to-peer The most important potential players-Ali, Jingdong, Future ". From the current development trend of Internet finance, the Electronic business platform of Finance has assumed the role of charge, but also tried in addition to peer-to-peer almost all kinds of internet financial industry. With Peer-to-peer industry consolidation into the regulatory era, the stability of the order in the industry, the big electric platform into the peer-to-peer industry will become a choice.

The alienation of China's peer-to-peer industry is obvious

From the perspective of China's peer-to-peer industry, most of the medium and small platforms are based on the offline, and through the fund pool and the specific standard between the deadline mismatch to achieve the financing, which contains a lot of risks: economic cycle risk, system risk and the run risk generated by it. It can be said that China's peer-to-peer is mostly borrowed in the name of Peer-to-peer and carried out a non-peer-to-peer, or a variant of the online, offline financing business.

With the exception of a handful of platforms that adhere to the principles of Peer-to-peer, data and escrow, most network lending platforms are free from regulatory loopholes, and risk is high. In this respect, the news rumors of Ali, Tencent observation of the racket loan, everyone credit is to adhere to peer-to-peer industry, one of the bottom line of the representative.

Although this kind of peer-to-peer company starts slowly, the business scale pure line pattern also has difficulty to roll the fund ball big in the short term, but in the long run, is advantageous to the wind control. Because the specific tender project, the time limit and the fund is one by one corresponding, does not exist runs the risk, is only an asset bad rate risk.

Why does the peer-to-peer need the electric business platform?

Relative to the Electronic Business Platform database, Peer-to-peer data credit is relatively imperfect and substantial. In fact, some peer-to-peer companies have started to learn from the electricity quotient of data credit model, to the electricity merchant merchants to lend, but also required the other side to provide the electricity in the water and order data, and to verify. Most of the peer-to-peer is not aware of the importance of electrical Shangzheng, the use of bank-like offline audits to investigate real estate, land, mortgage and debt obligations in the processing of platform operations has also violated the original intent of increasing costs and Peer-to-peer: Using data from the Internet to reduce transaction costs, to gain transparency in information, and to strengthen credit binding.

In the first half of the precarious period, peer-to-peer industry has also been calling for access to the central bank's credit system, to provide support for the industry's data collection, but did not realize that there are a number of large-scale data of the electronic business data has not been collected and used. Moreover, compared with the bank's data, the electricity quotient's data has the higher activity, the frequency and the reference value, to merchant and the consumer's credit-restricting ability is also stronger. Most of the bank's data are dormant, if there is no activation mechanism, to arrange and reorganize, and access to social goods, it is difficult to obtain high value of the credit reference, and the electric business platform is just in this respect has unparalleled advantages.

Why is the electric business platform now in front of the podium?

In a word, one is to avoid suspicion, and the other is difficult to choose between self construction and acquisition.

Why Ali in the financial innovation in the beginning did not choose Peer-to-peer, but through asset securitization to achieve a breakthrough in capital lever and the expansion of the size of Ali small loans. The author in the previous article: "Want to do network bank Alibaba, why not touch peer-to-peer?" The main reason is the peer-to-peer industry at that time the policy risk is unknown (Ali as a leader, need to avoid suspicion), risk-taking, and the actual business of Ali Financial help Limited, and Ali small loan policy assistance small, more conducive to operation.

Since then, the peer-to-peer industry has been able to officially become the regulator's target, as some of the platforms in the Peer-to-peer sector have been closed and several rounds of intensive market research have been conducted by the central regulatory authorities, led by the central bank and the CBRC. Although there is no detailed regulatory policy, there is reason to believe that management will not stop peer-to-peer business, the need is healthy, appropriate and consistent with the development of the industry's regulatory policy.

As a representative of the electric business platform, Ali Financial considerations also represents the entire electrical business industry's mentality: early out of suspicion or understanding of the reasons, did not develop peer-to-peer business. And once the peer-to-peer industry into the adjustment and orderly stage, along with the reduction of non-performing rate and the strengthening of platform risk control ability, the electric business platform into Peer-to-peer industry is the best example of the internal marriage of internet finance. Ali Financial Group CEO Pengley in the media has said, "Ali Financial No prohibited zone, small micro-customers need anything, do what", Ali small micro-finance Institute Dean Chen Dawei also said that Peer-to-peer industry is now a bit high bad debt rate, and so lowered after Ali will consider to do.

Next is how to intervene in the problem, is the self-built Peer-to-peer platform or direct acquisition, or control a platform perfect peer-to-peer? is similar to the Zhejiang Ali Holdings of Tianhong Fund model? The author thinks, at this point, the electric trader is still hesitating, in the short term, the actual effect of the stake is better, And since the establishment of their own more perfect platform for financial business caused a certain impact, and does not necessarily do better than the existing Peer-to-peer industry excellent companies do well. Moreover, for Ali or Tencent to invest in Peer-to-peer company's news has not been confirmed, difficult to distinguish the authenticity, even if it is confirmed, according to the logic of the electrical business, in the absence of formal cooperation is not easy to publish such a strategic plan, unless it is hype.

Will the Electronic business finance become the whole financial model?

In view of the current trend of financial reform, the trend of mixed supervision of traditional financial industry is strengthening, and recently, the central bank has set up a coordinating deliberative body to lead the CBRC, SFC and CIRC to ensure the supervision and cooperation between the departments. Then the Internet financial sector can be seen across a variety of internet financial models of the big platform? If this is the representative of Ali financial power to enter the field of Peer-to-peer, is not a sign that the electricity dealers began to become a full financial model of the Internet platform?

From the current business situation analysis, Electronic business finance has spanned the banking business of "deposit, credit, sinks", that is, online banking, small loan business and third-party payment business; In addition to these, the Internet Financial representative model has peer-to-peer, data collection, public financing, financial services platform. Among them, the data of the letter, has now been incorporated into the credit business of the electricity quotient, and the future can also buy and sell data, do data exchange, financial services platform, the current Arrey financial Taobao has begun to try, the other platform's online banking business is in perfect, if the Peer-to-peer business can be integrated into the electrical business of large data, Then the future of the electric business platform will become a comprehensive Internet financial eco-circle, which can exist at the same time a variety of internet financial industry!

So, from this point of view, there is no restricted area for the innovation of electric business finance, because of the unique position of the electric trader in the financial circle, the law and policy supervision often cannot be restricted by explicit rules, which is also the precondition of the frequent financial innovation of the Big electric power provider: As long as the policy bottom line is not breached, In the appropriate space can be independent innovation.