Channel P2P bottleneck how to transition?

Channelized P2P quietly walked a year.

In the exchange of love investment co-founder Zhao Chunxia, ​​21st Century Business Herald reporter learned that, as one of the representatives of the channel P2P platform, love investment has begun to transition. Including the face of the borrower's in-depth development and investment in the face of the horizontal development.

Specifically, the accumulation of certain industry-specific and region-specific credit data through the expansion of channelization development can obtain an effective wind-control model that focuses on these industries and regions in the future and gradually goes to the project discovery and project risk control layer. Outside the channel category to expand the business chain, the so-called "deep thinking."

At the same time, Love Investment hopes to change the position of a simple P2P investment platform and upgrade to a one-stop mass investment service platform, including investment leasing, asset securitization and non-standard wealth management products, The clearer the case the choice of launch, the so-called "horizontal thinking."

Behind this vertical and horizontal is the gradual transition pressure felt by channelized P2P practitioners.

Due to the need to rely more on the wind control capabilities of other agencies, to a certain extent, increased the risk borne by the platform. On the other hand, the contradiction between P2P high-cost funds and low risk appetite is also more obvious, which also makes the platform gradually feel the decline of willingness to cooperate and the potential of bad items driven by platform items.

In the background, channel-based P2P platform began to explore some of the steps back to self-support industry-wide up, the only way to completely control the risk in their own hands. But based on P2P for subdivision, for the characteristics of small and micro, it is difficult to have a platform to understand all industries, all regions of the wind control mode, which determines the future of P2P is difficult to win the winner, a dominance, focus In some industries and fields will be a better choice.

Accumulate data for self-control model

"Everyone is doing their own risk control." Zhao Chunxia said.

Channelized P2P business After more than a year of development, the representative platform such as the profit network, investment in love, building blocks, the scale of transactions have been very alarming. Taking love investment as an example, the transaction value has been completed to nearly 1.5 billion in the first six months of this year and from last March to the year-end only 500 million transactions. It took an entire year to complete the first billion, while the second billion spent only three months. Such data has been basically comparable with its predecessor for many years of people's loans, pat loans and other platforms.

According to the data disclosed by various platforms at present, the bad debt ratio of first-tier channel P2P is controlled at a relatively low level, no more than 1%. Coupled with the channeling business scalability, low staff costs, management is difficult, such a business model seems to be very good.

In response, the reporter asked everyone why CEO Yang Yifu not involved in channeling business. Yang believes that doing so means that wind control will depend more or less on other institutions, and that wind control is the core competitiveness of the P2P industry. In addition, no matter whether the partners are excellent or not, they are not their own enterprises. They do not necessarily understand the characteristics of the project that the platform most wants to launch, but also increase the communication costs.

Interestingly, as one of the representatives of channelized P2P platform, Zhao Chunxia also partially endorsed this view. Because of this, she told reporters that not only love investing, including profitable network and other first-tier channelization platform are invested heavily in building their own risk control capabilities, and at least love investing has its own through the industrial chain, and gradually get involved in the project found part of the plan .

"Channelization is not a result, but a process. Such a business model can rapidly scale up, accumulate data and gain time to develop its own wind-control team and wind-control model." Zhao Chunxia further explained that with the current environment of China's microfinance credit, It is also impractical for a wind-control model to take all the projects.

Because of this, love investment in the current stage of the business process, consciously focus on the selection of several specific industries such as health care, new energy and special attention to a few provinces and regions. Although channelized business, but still require access to all customer credit information. This approach, on the one hand, is to strengthen the current risk control, the other is to accumulate data for self-financing wind control model after 2 to 3 years to deepen the understanding of the industry.

Zhao Chunxia believes that the complex credit environment faced by P2P determines the importance of subdivision, while in turn focusing on subdivision can enhance the core competitiveness of risk control. Love Investment has set up branches in several provinces and set up big data reserves in some industries. These preparations will have a direct impact on the future focus of the entire chain business.

From investment products to investment services

Investors, many organizations are not located at the beginning of a simple P2P network credit platform, but hope for users to create one-stop investment and financing services. This is a new plan to comply with the idea of ​​"product to service" in the mobile Internet era.

Still love investment, for example, on the line of financial leasing investment products. Zhao Chunxia explained this, love investing in financial leasing is still only do a few specific industries generic equipment. As a result, even if a business risk, can not continue to lease, the platform can also take advantage of the resources in this industry to find other leasing companies.

According to its disclosure, in addition to financial leasing, love investment has completed the design of a variety of other investment products, such as asset securitization, some non-standard wealth management products. However, on the one hand, platform development requires a step-by-step process for introducing new products to users; on the other hand, under the current regulatory rules, there may be situations that are vague or even clearly non-compliant. However, as regulatory policies continue to improve, it is only a matter of time before such diversified investment products enter the market.

However, Zhao also admitted that at present, the third-party wealth management industry in China is quite a mixed bag. In particular, the business involving offline sales is unhealthy. In view of this, if you really want to create a one-stop investment banking business, including business line management, sales practices, product risk control, trading model design, there is still much work to be done. (Editor Zhao Ping)