P2B growth troubles how to solve

Text / Lee research

In the meantime, the rapid development of Internet finance, P2P network loan mode is also emerging - such as P2C, P2B, O2O gradually clear. Among them, the P2B model, which essentially lends to the actual controllers of small and medium-sized enterprises, PeertoBusiness - a personal-to-business model, achieved rapid growth in 2013, with typical representatives being the building blocks and love investment.

In theory, P2B is a model of individuals lending to businesses. However, in actual operation, the funds are generally put first to the actual controller of the enterprise, and then the actual controller lends the funds to the enterprise. As the P2B model has a high single loan amount and investors are not likely to fully diversify their investment, the P2B model places higher demands on the risk control and risk tolerance of the platform.

The "21st Century" field interviews and surveys show that the building blocks set up three kinds of protective debt repayment mechanisms. The internal wind control measures are similar to those of small and micro loans granted by banks. In order to better protect the rights and interests of investors, establish and improve the corporate governance mechanism, the platform also hired one of the top four accounting firms for annual report audit.

However, due to strict compliance and internal control measures that are hard to be built, the third-party payment companies have more restrictions on opening an enterprise and the operation is difficult. The loans actually issued to the enterprise are managed through the legal representative or actual controller under a personal account Made, but also to audit units have a slight resignation. In addition, the constraints of platform growth and third-party hosting costs caused by trouble.

Wind control cf bank

Building Blocks Box is a multi-source information technology company operated by Beijing Le Rong network loan platform. The platform, which has been online for 11 months since August 7, 2013, raised more than 1.1 billion yuan and covered more than 300 financing projects.

Dr. Zhu Qun, chief risk officer of the building blocks box, introduced that the current business sources of the platform are mainly two: one is recommended by the cooperative guarantee company, and the other is familiar with the core enterprise recommended by the recommender.

In terms of debt service mechanism, the platform has established triple protection measures. First, the security deposit, that is, the guarantee company in accordance with the guarantee amount of 3% -10% extracted, deposited in the Bank of Communications account; Second, mutual insurance, financing companies each subscribed 3%; Third, building blocks banker, which corresponds to the second In the business model, some channel customers recommend their own financing clients and require the recommenders to subscribe for 15% of their own expenses. In the event of a risk event, the amount is used to repay other investors' losses. In the event of a risk event, they enjoy About 4 percentage points higher than the average investor expected return on investment.

In terms of loan reviews, the platform set up about 40 due diligence teams and about 10 people in the review and approval team to conduct credit checks on each financing item.

The actual controller of personal credit, business accounts of the public flow, the supply and marketing contracts on the downstream, the contract signed ... June 27, the second phase of the activities of the box office building investor observation mission, for randomly selected samples of platform-oriented investors Representatives and members of the Media Observer Group demonstrated the best of materials. "In order to prevent moral hazard, we urgently require our staff to accompany clients to the bank outlets for on-site printing of the aforementioned important materials for examination and approval, such as bank accounts." Xie Group added.

The aforesaid requirements of arbitration are in line with the review standards of commercial loans for commercial banks. Xie Qun introduced in the search for customer information, the use of some information using the Internet, such as the platform set up a "double gauge, double open, demotion, punishment," dozens of key words, financing units of directors, shareholders and other changes in attention . The future to consider the introduction of public opinion companies, on the complaints, public opinion and other information to capture the depth.

Compliance Risk and Custody 桎 梏

Not only the internal risk control measures are in line with the banks, the building blocks are listed on the same bank as the external auditors. KPMG Huazhen (hereinafter referred to as KPMG) suggested that in P2B mode, the platform is essentially a loan to the enterprise, but the money is transferred to the actual controller's personal account, this practice is not compliant.

Xie Qun said that at present most P2P companies will open accounts in third-party payment agencies, and fund custody and transfer payments. Since the third party payment agencies cooperating with the building blocks and boxes remit to the world to restrict the opening of business accounts, the operation is difficult, there is no restriction on the individuals. Therefore, the investors are transferred to the individual accounts of the drawing units first, usually the legal representatives or the actual Controller.

Although the platform has taken measures to mitigate risks, requiring directors and shareholders to issue certificates to authorize the legal representative to raise funds for the operation of the enterprise, KPMG does not consider this a sufficiently effective preventive measure.

In addition to business loans granted to individual lenders audit units questioned the third party hosting brings another trouble is the platform to increase costs.

Beijing Zhengda Internet Technology Co., Ltd. CEO Lu Yuquan introduction, the company's operations up 360 platform, but also through the third-party payment company remittance to the world for hosting, business charges in two blocks, one remittance to the world hosting account for the use of the year The fee of about 100,000 yuan, the second is the customer every time business occurs, the top-up charge of three thousandths to five thousandths, pick up now take 2-10 yuan as a fee.

Xie group also confirmed that in the box, the above fee for the recharge amount of two to two thousandths, to mention now 2 yuan / pen. The operational flow is that the platform releases the project, the lender subscribes for the moment, and the platform gives remittance guidelines to freeze the amount. After the full scale, the platform issues an instruction to thaw instantly.

It is understood that fee bearers in the various platforms are not consistent. Some platforms want to optimize the customer experience and pay the money on behalf of clients. Other platforms consider their combined revenues themselves higher and do not share this part of the cost. Up in the 360 ​​and building blocks boxes, the current fee is paid by the platform.

If investors are rewarded, subject to network conditions, personal risk appetite and other reasons, the delay in bidding, then, on the one hand, to stay remitted in the world account has been recharged with no interest, on the other hand, the bid is not completed , The amount of recharge directly withdrawn, it means that the platform paid in vain to recharge and withdrawals of the fees.

"At present, the bidding speed of building blocks box is calculated in minutes, and some of the borrowings are grabbed in 1 minute," said Xie Qun. "There are indeed some customers who fail to win the bid because of network conditions and operational proficiency. (Edit Lin Kun)

P2P hosting bank hot and cold

In August 2011, CBRC promulgated the "Circular on Risks Related to RenRai Lending", which requires banking financial institutions to set up "firewalls" with P2P. Although regulators merely communicate risk warnings and do not explicitly prohibit banks from cooperating with P2P, banks have been cautious in providing fund trusteeship and payment settlements for net lending companies.

Lu Yuquan revealed that since last year, 360 has been looking up a lot of banks, based on risk and compliance considerations, did not really achieve fund custody cooperation.

"First, judging the prospects of the net loan industry; Second, the regulatory policy is unknown; Third, some banks are also exploring their own P2P business, there is potential competition with the net loan platform, so the early bank contract P2P hosting settlement Less willing, "said a fund manager at a joint-stock bank." However, the above situation is expected to be adjusted. "

Zhou Lingping, president of Hongling Ventures, introduced a number of P2P companies, including its own companies, with which Ping An Bank has signed a strategic cooperation agreement of funds hosting agreement. Security is developing and testing relevant business systems and is expected to enter P2P fund custody in the future.

Wei Wei, co-founder of the building blocks box, said that it has also signed the above-mentioned agreement with Ping An. Once the Ping An Bank system development and testing mature, consider docking. Clap loan, co-loan executives also said that with the initial conduct of peace talks.

Ping An Bank Shenzhen Branch, a product manager confirmed that Ping An Bank is indeed the layout of P2P funds managed business. The current progress is that the program has been reported to the CBRC and fully communicated with the regulators. The first phase of the system has been completed and is being systematically tested and docked with the first batch of contracted customers. Taking the building blocks as an example, the project is expected to be completed in July through.

In terms of costs, the introduction of the aforementioned product manager, P2P platform docking safe capital custody, involving the amount of three parts: first, a one-time collection of docking costs about 100,000 yuan, second, custody fee per year about 50,000-100,000 Yuan, third, investors recharge fee of about three thousandths to four, to mention the handling fee of about 2-8 yuan. The above floating mainly depends on the platform business type and size.

"Ping An cooperation P2P platform has a preliminary screening, if now started to contact, it will not be on the line until September." The aforementioned said.

(Author: 21st Century Institute of Innovation Capital) (editor Lin Kun)