From the 800 million bad debts, look at the Internet Big Data credit reform

It is advisable to believe that landmines have been recently stepped up. First exposure to 800 million loans have been bad debts, and then exposed to the Hangzhou real estate project also risk of bad debts. The two-year letter is a radical style in real estate projects, dabbling in many three or four-line cities. According to the media, a senior private financial personage revealed that the letter is a large scale of bad debts or is true, and far more than 800 million yuan. Although the letter from the CEO Downing has come out to claim that this is a false news of market competition, 800 million of bad debts are likely to be true for more multi-channel information. In fact, last year, the letter 300~400 billion of the turnover, there is bad debt is normal, but such a high degree of a single bad debt that cheap letter can be "gross" cover, but the smooth operation of the overall platform will inevitably have a large impact.

Industry insiders in the China Economic network reporter interviewed, said the letter or 800 million bad news to the Peer-to-peer platform wind control capacity deficiencies. The person further pointed out that China's peer-to-peer financial industry has developed rapidly in recent years, but behind the rapid development there are problems such as insufficient staffing, lack of experience in credit risk assessment, and Peer-to-peer platform investment direction is a high-risk project, from the Peer-to-peer platform at present generally high adverse rate also confirms its risk control ability.

Not only is it advisable to believe that the dozens of of peer-to-peer credit companies that collapsed in the country last year also proved to be a serious loophole in the credit approval model. So, how should the traditional way of credit be improved?

The problems faced by traditional credit channels, such as lack of personnel and lack of experience, are only appearances, in the final analysis, the auditor has too much reliance on manpower in the process of user information collection and information verification. Traditional credit products show labor-intensive State, audit personnel inefficient, and the market demand is exuberant, generally grant a lower limit, can control risk, but will make the platform face user emotion problem. Of course, everyone loans, such as "high interest rates cover high risk" approach is a way to solve, but this model is very easy to meet the user's psychological appeal ceiling, that is, customers have a strong demand and no other means of borrowing to choose, and did not solve the number of people rely on the problem, so it is not conducive to widespread promotion.

Have to say, these problems are difficult to solve, even into the internet era, everyone loans, Pat credit Internet peer-to-peer, but to the online audit way to the line, from the audit in essence, there is no fundamental change, still need to rely on huge manpower. Through the way of the Internet, in fact, there is a solution to the problems of traditional credit, because in the era of things networking, large data, credit can be collected through massive data and artificial intelligence analysis of the way to come. This product model, foreign zestfinance and Kreditech has already had the relevant experience, May through the networking way can integrate the user social network, the tax record, the social security and so on the information to evaluate the user credit grade, gives the faster the credit service. In the middle of last year ZestFinance won the C round 20 million dollar level financing, has the good performance in the European and American market. In fact, there are similar products, Wecash Silver is a mobile based on the Internet credit products, through the user's own authorized social network data and a large number of crawling search engine crawl results, cross-test data authenticity, and according to industry, Professional level comprehensive assessment of user credit rating, Within 20 minutes to receive the following credit limit of 6000 yuan, within 2 hours to obtain the highest 50w-level credit limit. Early this year, Wecash Silver has won the first round of 20 million yuan level financing.

Using large data to solve problems in traditional credit can fundamentally solve the dependence on the human, on the one hand, the data need not be manually collected, but with a mass crawl to replace, not only to solve the artificial pressure, but also to enhance the scope of reference data; On the other hand, data audit has multiple data cross test to evaluate synthetically, Can effectively test the authenticity of the data, to avoid the artificial complexity of the work may bring errors; Thirdly, the comprehensive evaluation of the user credit rating, to each industry, each occupation and so on to give independent credit labels, to solve the audit staff empirical audit methods may bring errors. Therefore, through the Internet large data and artificial intelligence methods of user credit audit, can effectively liberate the audit on the number of labor requirements.

Taking domestic Wecash Flash silver as an example, from the Wecash Flash silver product model, users only need to fill in a few simple information such as work, telephone (no proof of work, etc.), plus Sina/Tencent Weibo, Renren and other social network account authorization, you can get credit, compared with the traditional way of credit, Users get great convenience. On the other hand, Wecash flash silver through the machine to collect a large number of users of information, cross-test the authenticity of information such as user work, and according to the industry information has been collected to obtain its credit limit, if this user has no other bad credit records, then this is the user can obtain the maximum amount of credit funds. Seemingly complex process, Wecash flash silver can be resolved in 15-20 minutes.

Wecash Flash Silver Last year, the test online to date, the official line is not yet three months, however, the cumulative number of credit users reached more than 30,000 people, the cumulative credit line broken billion, the daily platform borrowing demand has reached millions. If handled in the traditional way, to achieve this level Wecash flash silver needs hundreds of people to complete this operation, but at present Wecash all personnel also only dozens of people! Moreover, the Wecash Flash silver does not use the Peer-to-peer "income cover risk" The high interest rate way, the Wecash Flash Bank interest rate is only 1%, is higher than the traditional bank mortgage interest rate, but is much lower than the Peer-to-peer and other Internet credit way, even if so, Wecash on the line for several months, the bad debt rate has been kept under 1%, and there is no death account.

, the use of Internet large data way to credit, can solve the traditional credit process of people and experience problems, but also can give more rapid credit experience and lower interest rates. The Internet age, product experience is the kingly way, pay attention to experience products will be more market, credit market is brewing a lot of opportunities for the rise and change, who can grasp, who can in the future of the Internet financial market occupies a place!