Standing in the tuyere of large data credit, "Silver piece Shop" to do by the data-driven Third-party dealer sellers credit Platform

.

The financing needs of small micro-businesses have long been difficult to respond to. Many small businesses often encounter an awkward dilemma: they find themselves not eligible for a loan when they are in desperate need of money. In fact, not only a large number of small micro-businesses offline, small electric dealers will also encounter such problems, they want to get loans from the bank is very difficult.

On the other hand, banks do not see the demand for funds from the sellers of these electric dealers. Some banks have started lending attempts, such as postal Savings Bank, Minsheng Bank, Construction Bank and so on to provide some loan products for small micro-electric dealers. However, these loan products still follow the traditional mortgage model, but the full value of the collateral is still a problem for small micro-electric operators. Therefore, the development of the bank's electricity business credit is also very slow.

Also see the good side. The emergence of a large number of Peer-to-peer platform in the past two years to make small micro-enterprise lending more efficient and convenient, but also for the Enterprise Credit Loan opened a window, to a certain extent, to ease the small micro-enterprise financing dilemma. and relative to the offline small micro-business, the Electronic business platform for small micro merchants is easier to achieve a group of credit loans. They deposited a large amount of business data on the electricity-business platform, which became the basis for the lenders to conduct wind control and credit. This is an important form of the combination of Internet and financial services.

At present, there are two main types of platforms dedicated to providing credit services to sellers of electricity dealers: A class is the electric business platform itself, to Ali small loans, Beijing-east of the Beijing small loan as the representative, and the other is independent of any one of the electronic business site of the Third-party credit platform, with foreign kabbage as the representative. Kabbage has so far completed the D round of financing, the total financing amount of more than 50 million U.S. dollars. At home, Kabbage also has a corresponding apprentice, is the silver piece shop. The two models and ideas are very similar, do is to the electricity dealer sellers operating data as the basis of the short-term pure credit loan.

Look at the pattern of the silver ingot shop. The silver piece shop as a third party electric business credit platform, its two ends are each electricity merchant platform's merchant and each kind of fund provider. In the merchant side, the merchant submits the loan demand, needs to authorize to the silver piece shop, enables the latter to connect the merchant on the Electric commerce platform the backstage account, obtains the business data. The silver ingot will then form an evaluation report based on these data and submit the report to the funding provider. The funding provider carries out its own two wind controls (mainly for the approval of the Central bank credit report) on the basis of the report, and gives credit and loans to it. The whole process takes 2 days. The loan ceiling offered by the silver piece shop is 1 million yuan, the repayment period is 6 months, the daily interest rate, with borrowed, do not use no interest.

At present, can be on the silver piece shop on loan sellers from the cat, Jingdong, Amazon, EBay, Poly-Mei excellent products such as electric business platform. However, the silver piece shop is not to cooperate with the platform side, but with the electric business platform Sellers direct cooperation, which to a certain extent reduce the resistance to cooperation. The other end of the funding provider is currently mainly banks, including Ping An bank, China Merchants Bank, Pudong Hair Bank and Hangzhou Bank four. In the future, the Silver ingot will be included in more Peer-to-peer platform as a provider of funds, such as the appropriate letter, Pat Credit and so on, they may also become the provider of funds. However, the silver Ingot will not consider working with traditional small lenders, mainly because of the efficiency of the loan. It should be pointed out that, as a result of cooperation with banks, the entry threshold of the loan business is relatively high: operating time over 12 months, annual sales of more than 1 million. In the integration of Peer-to-peer platform and other funding providers, the Silver piece shop to a smaller long tail market extension.

Then look at the silver piece Shop wind control measures. Since it is a "data-driven" credit platform, the core of the wind control is how the silver ingot handles the business operators ' data. On the whole, the data of the silver Ingot Shop includes two categories of industry data and merchant data, and has developed the data model. Chen Riigui, one of the founders, told me that their team had been steeped in the electricity business for years, had a deep understanding of industry data, and that most of their team of data models were from Ali and the banks.

Industry data. The Silver piece shop will first monitor the industry data in the last 36 months to assess the growth, stability and scale of a particular industry. As we all know, the future growth of customers in a certain degree will be subject to the industry environment, of course, the risk of the industry is also so. At present, the industry data covering 16 major categories, 200 two class head 900 + class.

Merchant data. The Silver piece shop will connect to the merchant's backstage data to understand their sales, flow, conversion rate, collection rate, customer unit price, repeat customer ratio and other data, and the relationship between these data. Subsequently, the silver piece shop from these data divided into more than 200 detailed indicators, and into the store's operating capacity, market capacity, profitability, solvency and growth capacity, the formation of an assessment report.

According to the above wind control measures, the silver piece shop will filter out about 10% of unqualified applicants. The banks will be further screened in the course of the two wind controls, and the number of merchants who will eventually be able to obtain credit is about 60% to 70% of the total applications, most of which are screened because of unqualified personal credit records.

Ali early on the layout of the small loan business, Jingdong and other electric business platform has also come into the Bureau, such as silver piece of the third party electric business credit platform have the opportunity? This depends on the advantages of Third-party credit platforms. Below look at some of the advantages of the silver Ingot shop:

Face the whole net sellers. Silver Piece Shop only in the technology to achieve data access, in theory, as long as the data interface to open the platform of the merchants can become its customers.

Interest rates are low. The Silver piece shop daily interest, the Japanese is extremely 4.2, translates the adult interest rate to be about 15.3%, this with the current electric business platform credit business interest rate is low. This is mainly because the money supply side of the silver Ingot Shop is the bank, the capital cost is lower. In the future, if the silver ingot shop to develop more sources of funds can also be more flexible control costs.

The use of loans is unrestricted. For businesses that shop on multiple electric Shangping platforms, the money they borrow on the silver piece can be used for their business activities on any platform. In contrast, if the cat business in Ali small loans, money can only be used for its business operation on the cat.

Cumulative credit across platforms. The third party loan platform's openness is better, the silver piece shop may examine a seller on many electric business platform's operating data, accumulates to it, may let the loan seller lend to the higher amount of money.

It can be seen that the third party's credit platform is facing a broader potential market and its services to sellers are more flexible and open. However, the pattern of the silver piece shop is not all the advantages.

First of all, in the electricity quotient platform end, the silver piece shop hand did not actually grasp any data, this reduced the competition barrier to some extent. On this point, Chen Riigui told me that they have had a few years of advantage in customer development, which is hard to accumulate when other entrants come in 1:30. The enterprise background of the silver piece Shop is established in 2006, Hangzhou CEE Billiton E-commerce Co., Ltd., in the business-to-business business to do a good job. At the same time, Chen Riigui is also the angel investors in the electric circle, investment in a number of electrical commodity licensing, distributed in the domain name, traffic, trading and many other links, such as the meter folding nets, beibei nets, gold and other network. These customer resources make the Silver ingot shop can be relatively smooth cold start.

Secondly, in the provision of funds, cooperation with banks will be less effective. Since banks have historically been very cumbersome in vetting and approving processes, two wind controls (albeit a very basic wind control) will slow down the duration of the credit. This makes the pure online approval credit mode of the efficiency advantage of certain harm. The choice of banks, however, is due to the low cost of capital and, on the other hand, Asto's financial co-operation with the banks as they hatch.

In May this year, the silver piece shop obtained from the Gao capital of 10 million yuan a round of investment, when the silver piece shop has just been online. Chen Riigui said, at that time also did not intend to contact too much VC, but Gao in the platform has not run out what data when gave a lot of trust, this is their choice Gao important reason.

You can look at the operation of the silver piece shop for six months now some operating data:

Cumulative credit limit: 210 million

Number of merchants applying for loans: more than 800

Household loan Amount: 250,000

Overdue rate: There is an overdue

Overdue/Bad Debts Liability party: The provider of funds, if the piece shop bear part of overdue/bad debts can increase the proportion of income

About the future development direction of the silver piece shop, we look back to kabbage. At present, Kabbage has extended its business to offline businesses. In May 2013, Kabbage announced support for accounting software QuickBooks data access, which will serve as an important basis for credit to small micro-enterprises offline. In addition, Kabbage's online credit business has been able to combine loan sellers ' friends, online statements and other social data to lend to their clients. Chen Guiri Frankly, this is also the future direction of the silver ingot, they will be their own data models continue to enrich and improve. In addition, the future of the silver ingot will also gradually provide these lenders with more comprehensive financial and business services.