Peer-to-peer Network Loan differentiation

Absrtact: Recently, wing long loan CEO constructed prepared a "Peer-to-peer network loan platform industry status quo and wing-long loan standards", hoping to do a good job in the industry to point out, and to do a bad place to reflect. The entire Peer-to-peer network loan industry has developed for 6 years. In these 6 years

Recently, the wing long loan CEO constructed prepared a "Peer-to-peer network loan platform industry status quo and the wing-long loan standards", hoping to do a good job in the industry to point out, and to do a bad place to reflect.

The entire Peer-to-peer network loan industry has developed for 6 years. In these 6 years of time, constructed see many peer-to-peer loan platform rise, fall, there are many Peer-to-peer network loan platform is no longer the original appearance.

Over the same period, Cufe Financial Law Institute director Huang organized several dialogues, gathered a lot of peer-to-peer industry experts and scholars, and Peer-to-peer enterprises together to discuss the future of the Peer-to-peer industry, and launched a peer-to-peer network lending industry self-discipline convention. In the discussion, for the definition of peer-to-peer, characteristics, as well as Peer-to-peer platform loan amount, how credit set up, and so on, did one by one discussion.

"This year, the Peer-to-peer network lending platform before the risk of exposure, bad debt rate significantly increased, some Peer-to-peer network loan platform will collapse." "Huang told the 21st century Economic report," reporter, after several years of development, peer-to-peer network lending industry chaos, whether from its own bad debts rate and risk, or from the regulatory level, Peer-to-peer network loan industry ushered in the bottleneck.

Peer-to-peer Network Loan differentiation

"On the wing-lung platform, 80%~90% lenders are a group of people that traditional financial institutions cannot cover." "August 9, constructed told reporters, this shows that peer-to-peer network loans and traditional financial institutions there is no competition, because the whole credit market is too big, and also shows that peer-to-peer lending to the entire financial system is also an important complement."

At present, Peer-to-peer Network loan platform Credit Line is about 50,000 on average. Lenders are individuals and small micro-enterprises, of which individuals account for about 60%. Cut into this market segment, to some extent, make up for the blind spot of bank credit. The Great Wall Securities analyst Huang that in the future, Peer-to-peer network loan has the hope to become the third party pays, the microfinance outside the third kind of "network new financial market".

Domestic Peer-to-peer network loan industry has begun to take shape. According to statistics, the current domestic active Peer-to-peer platform has more than 300, and 2012, the entire Peer-to-peer network loan volume reached 20 billion yuan. According to industry statistics, 2013, Peer-to-peer Network lending scale will be expected to reach hundreds of billions of scale.

Huang that to stop or restrain the development of Peer-to-peer network loans is not realistic, but should be in the better direction of development.

After several years of development, domestic Peer-to-peer network lending has been differentiated. A part of Peer-to-peer network loans only to do the platform, do not intervene in transactions, such as the wing-long loan, Pat Credit, point melting nets. And more Peer-to-peer network loans to establish a pool of funds, involved in the trading link. such as: the letter and so on, everyone loans. In addition, such as Lu Jin, the beneficial network will be the credit asset securitization, the external sales through the Internet.

In Peer-to-peer network loan competition, "bad currency expulsion of good currency" things happen. Companies that offer guarantees tend to put a lot of pressure on companies that do not offer guarantees. Because, from the borrower's point of view, the money will naturally be lent to the company providing the guarantee. However, in the long run, the model of providing security will all be clustered in the platform itself.

From the experience of the United States, in the advent of risk, platform-class Peer-to-peer network lending can be "safe". America's prosper was shut down for a year, and the SEC reviewed its operating risks across the platform. It is the platform model that allows it to open again.

"Credit crunch will be a relatively big challenge for peer-to-peer network lenders," he said. Huang that in order to avoid such risks, net-loan companies must focus on the platform, insist on not illegal fund-raising, not direct lending, do not provide collateral.

From the current peer-to-peer overall situation, the Internet financial analyst Jiangnan anger that the core capital management may be feasible. In detail, first of all, Peer-to-peer can operate the size of the business with the core capital of the link, the requirements should not be more than 4 times times. Secondly, it is advisable to set up the split standard of Peer-to-peer creditor's rights under 30 people, to avoid too much decentralization of creditor's rights, to limit the number of transfer of creditor's rights and to avoid "new debt". Finally, we must strictly monitor the false claims, because the false claims have the ingredients of fund-raising fraud.

Jiangnan anger proposal, for the platform model of Peer-to-peer, in ensuring that funds and platform isolation, as well as the absence of relevant related claims exist, can carry out policy support, encourage innovative technology. And for other models of Peer-to-peer network loans, you can refer to the financing of the company management measures, as well as financial products sales methods for supervision.

Set entry threshold

"Peer-to-peer development is only just beginning, what kind of model is suitable for peer-to-peer network loan development, and there is no conclusion." "In the future, Peer-to-peer networking will have more innovation, and it will bring more new models," constructed. At this stage, it is premature to issue licences.

Taking the first wave of internet finance-a third-party payment, for example-the central bank has since 2005 said it would oversee the issuance of payment licences. However, it was not until May 2011 that the first instalment of Third-party payment licences was issued. During this period, the form of third-party payment is constantly developing, the regulatory departments are constantly conducting research, mutual consultation, and finally issued a license to the whole industry norms and development played a very important role.

and Peer-to-peer Network loan industry is only 6 years, the establishment of the 2007 Wing Dragon Loan, the 2008 Pat credit is the first batch. Now, regulators are starting to notice that it will take some time to finalize a licence.

But in addition to the license plate, we can set the standard scope, registered capital, business operation Scope, operating platform technology and other factors to set the Peer-to-peer net lending threshold.

Earlier, in a Peer-to-peer internal symposium in July this year, Hu Honghui, co-founder of the company, suggested that Peer-to-peer needs to establish a higher industry entry threshold and set capital scale requirements to constrain access.

"In general, it is a good value to set the threshold of capital to 50 million," a peer-to-peer network loan industry has suggested. "In addition, it may be more positive to limit the amount of credit on a Peer-to-peer network loan platform." For personal loans, the ceiling is below 500,000, because the entire Peer-to-peer network loan level of tens of thousands of yuan, and for business loans, then the amount of 5 million yuan, is a modest value.

For the fund supervision, Pat Loan CEO Zhang has said that the payment system for the third party, as well as the fund supervision, securities company's guarantee deposit system can become Peer-to-peer network loan industry reference.

It is understood that the pterodactyl loan, both sides of the loan funds through the third party payment-the state pay to carry out funds custody. A peer-to-peer network loan industry believes it is possible to regulate the money accounts paid by these third parties.

Establishing Network Credit System

Unlike the US, which has a good credit system, China's credit system is missing. In order to reduce the risk of default, at present, all Peer-to-peer network loans to the offline audit. For example, the wing-long loans to join the way to expand the line under the audit team, those who may be approved by the loan will be under the line audit. Those with a loan limit of more than 300,000 of customers, the network will be online audit. has been adhering to the platform of the racket loan also set up a line of audit team.

In the process of offline audit, Peer-to-peer Network loan company either build a team to audit, or outsource, or to join the way to join the supplier. But either way, the advantage of diminishing marginal cost of the Internet cannot be played. This also makes the Peer-to-peer network from the birth of the Internet not become a light company.

Point Rong Network CEO Guo Aerospace also admits that only from the high cost of coverage, high intermediary fees in the offline mode transition to Low-cost online mode, Peer-to-peer network loans to further play the advantages of Internet finance, can have vitality.

"In fact, we do not want to conduct offline audit, but there is no way." Constructed told reporters, now, still can not be based on the Internet, the establishment of a credit rating system, nor risk audit.

"In the United States, 80% is Automated system audit, 20% is artificial." In China, these two kinds of audits accounted for half, is good. "Guo Yuhai said.

Through the internet means of credit evaluation, Peer-to-peer Network loan also came up with a lot of thoughts. Many of these have been tested and not appropriate. For example: Let a risk evaluator have a video conversation with a lender to make a judgment, but soon this way is abandoned. Because, this way takes a long time, the effect is very poor.

The core of finance is risk control, in which the steps are to obtain data, analyze data and establish wind control models.

Now, the entire financial system is only getting data from the central bank's credit center. In fact, the central bank's credit data does not apply to peer-to-peer lending. Because China's small micro-enterprises and the vast majority of individuals in the central bank does not have relevant credit records. At the same time, such information as hydro-coal, industry and commerce can be used for credit evaluation, but the relevant information of these institutions cannot be connected.

These traditional credit rating data does not meet the Peer-to-peer network loan wind control. Peer-to-peer Network lending practitioners believe that, in addition to the use of traditional data credit system, Peer-to-peer network lending needs extensive cooperation to establish the network era of the credit system.

For SME loans, the Electronic business platform for real-time operation of the enterprise data is the certificate of credit. At present, Pat loans to Taobao sellers to provide loan services. For the letter, Zhuchang told reporters, Taobao Crown, star and other enterprise evaluation standards, is the result of long-term business, can be rated.

And, the electronic commerce platform's transaction flow, the information flow and so on dynamic message, also is the network to levy the letter the good data. Huang said that Ali finance is now trying to get through the daily credit, Social Credit, trading credit and financial credit four levels, summed up into Ali credit large data, on this basis to establish Ali financial wind control system.

For personal unsecured credit loans, you can access the bank credit card consumption records. And you can reduce the risk of default through social networks. I love Card CEO Zhiyun told reporters that the assessment of the borrower will not default, can be based on the social costs after the default, and its loan amount to compare. For example, a monthly income of 10,000 yuan white-collar workers to apply for loans, within 50,000, then the likelihood of a default will be relatively small. Because not only the white-collar income to deal with these loans are not a problem, and their friends around the income will be good, after the default, friends will be judged on their poor.

At present, many Peer-to-peer network loan platform requires individual lenders to provide family photo, friends photo, social relations list, etc. based on social circle information, the intention is so. And when the social network data get through, a lot of information can be automatically identified through the system.

"Internet credit will be better than traditional credit. Constructed that the traditional lending is a one-sided game, in the Internet environment, credit risk is a multi-party game. Because on the internet, lenders related to loan information can disclose a part of the website up.

In addition, the integrity of the credit system is the excavation behind the large data. Guo Yuhai told reporters that users in the application for loans to fill in the information spent in the time, the English name is used to fill in the case, can be based on massive data for statistical analysis, can be measured in the corresponding default rate. In addition, the data of mobile end app, the only point of Internet access IP and the address of ID card can be the important information of data alignment and credit evaluation. At present, the point-thaw network has established more than 100 risk models and more than 50 anti-fraud detection tools.

At the beginning of August, Peer-to-peer Network loan platform in different occasions, have called for the establishment of an association. Each company funds, out of technical personnel, through the corresponding data interface, share some data, build a commercial, peer-to-peer use of the credit platform. Zhiyun that in the future, China will have one or two credit rating companies that can provide quality data for Internet credit. (Tang)