China's first personal credit score unveiled

of Sesame Credit

January 28, the Ant's Personal credit service agencies-sesame credits began in some users of the public test. The first product is the Sesame credit score, this is China's first personal credit score, you can visually present the user's credit level.

At present, Sesame Credit has taken and paid treasure wallet cooperative way, the public test user login Payment Treasure Wallet 8.5 version, open the "wealth" bar can see Sesame credit score options. After the authorization is opened, Sesame Credit will be officially opened. Currently, only some of the selected users can participate in the current test.

How to calculate?

Sesame Credit uses the international credit score to visualize the performance of credit level. Sesame Credit score of the lowest 350 points, the highest 950 points, the higher the percentage of credit to represent the better. This is very similar to the American FICO score (between 300 and 850).

Sesame Credit to tell 36 Krypton, sesame credits the basis of the calculation mainly includes the user credit history, behavioral preferences, performance ability, identity characteristics, network relations five dimensions.

Data sources, in addition to the Alibaba Group will be connected to the electronic data and the Ant Financial services Group's Internet financial data, sesame Credit and public security network and many other institutions and partners to establish a data partnership, but also will open up various channels to allow users to actively submit various types of credit-related information.

Sesame Credit Data covers all aspects such as credit card repayment, net purchase, transfer, financial management, water and electricity payment, rental information, relocation history, social relations and so on. People in the daily life of the little bit of behavior, are closely related to credit.

How would that affect us?

Sesame Credit business development leaders believe that credit is the infrastructure of the entire society, the next sesame Credit will be applied to all aspects of life, not just confined to the financial sector. Recruitment when hiring, whether the loan is issued, whether the scholarship to give, friends whether to continue and so on can first check each other's sesame points.

During the period of the test, Sesame Credit has cooperated with the partners in many fields, such as car rental, renting, marriage, visa and so on, and will soon provide services to the outside world. This means that when your sesame reaches a certain value, rent a car, stay in the hotel can not pay a deposit, online shopping can be first tried to buy, when the visa does not need to flash turn to do deposit certificates, loans can be more quickly approved, get lower interest rates than others, and even blind date can be the greatest degree to avoid marriage cheat. But if you do not borrow money, malicious shopping, these actions may also lead to a job can not be found, rent a house, the application of loans and other ripple effects.

Will it Knave?

Sesame Credit is the answer: Under normal circumstances, a person's credit information is relatively stable. Of course, if there is a major change in key credit, the change will soon be reflected in your sesame. However, the promotion of credit is a step-by-step process that cannot be rapidly promoted through individual actions or events, requiring your long-term accumulation.

Sesame credits tell 36 krypton, sesame seeds are sesame credits based on the information currently known, the use of large data methods for comprehensive evaluation, individual users by making Sesame credit to understand their more information will help improve sesame points. At the same time in daily life or economic activities in the use of credit services in a timely manner to fulfill the agreement also contribute to the promotion of sesame.

Will my credit information be known to all?

Sesame Credit Director said, whether it is the organization or others, to see your sesame points, must obtain your own authorization. In addition, Sesame is through the massive credit information comprehensive evaluation and processing, to obtain a credit score, to visually present the level of credit. This form of presentation can better protect the individual's specific credit information and privacy.

But Sesame credits have also added some social attributes. For the convenience of users to understand the credit level of friends around, Sesame Credit also set up a similar "credit PK" small game. Click on "Credit Guess", you can go with a friend than one of the Sesame credit score higher. If the other party authorized permission, you can also directly check the other side of the Sesame credit score.

By the end of 2013, the bank's personal credit system included about 320 million per cent of natural persons with credits recorded, with a population of less than 25%, compared with 85% per cent in the US credit system.

and sesame Credit coverage of the Netizen community, many of the traditional agencies have failed to cover the grassroots people, such as not have to borrow, did not apply for credit cards, student groups, blue-collar workers, self-employed, freelancers and so on. Based on their network behavior trajectory data, they use large data technology and data analysis model to evaluate their credit rating, and form a good supplement to the existing system.

January 5, the central bank issued to allow 8 institutions to carry out personal credit service preparation, the Ant Financial services group under the Sesame credit. The small scale of sesame credit is a part of the financial preparation work. It is reported that in the future they will also launch a series of products such as credit reports.