Third party payment hosting hidden worries Peer-to-peer into the banking era

The bank is apparently the successor to the fund-hosting business that competes for peer-to-peer platforms. The account has been hosted in the Bank's Building block box, you and I loan platform said the new system will be on the line in March, when the funds trading channel would be all switched to the bank channels, third-party payment channels will be gradually replaced. "The Bank has the Fund trustee qualification, the Independent fund Trusteeship Department, has the rich experience in the fund trusteeship, moreover, its own risk-resisting ability is stronger, the credibility is higher." "Nine Dou Fish CEO Guo Peng told reporters that the current fund-hosting program is working with Hong Kong's largest independent local bank of East Asia Bank [0%] to do further communication." Banks ' strong involvement in Peer-to-peer hosting blue Ocean comes from regulatory support and a huge interest impulse is the driving force that banks kill into peer-to-peer funds to host the Blues. Not long ago, Minsheng Bank launched the "Network trading platform Funds Trust system", building blocks box, everyone credit Peer-to-peer company for the system's first users. Minsheng Bank Asset Trusteeship Department general manager Zhang Changlin revealed that the Minsheng Bank funds Trust platform is based on the supervision level to encourage the first Test, the preparatory process has been guided by the regulatory level. In addition to Minsheng Bank, investment, Pufa, Citic and other joint-stock banks also took the lead in opening funds for Peer-to-peer agencies account. Shingwen, deputy director of the central bank's payment and settlement division, said publicly that Peer-to-peer funds should be hosted in commercial banks, and that third-party payment of funds could lead to risk transfer and risk premiums, and that the combination of the two risks would multiply the risk of the industry several times. Insiders believe that, in the absence of supervision, the bank involved in Peer-to-peer Platform fund hosting, on the one hand for the network loan platform for high-risk loans to provide a strong letter, on the other hand, it is also expected to gradually solve the "money run" frequent industry difficulties. In line with the idea of the regulatory layer, to encourage the Peer-to-peer platform to host funds in the bank, and for banks, the fund-hosting business does not occupy capital, but also can bring intermediary business income, is the bank's profit growth transformation of the blue ocean. NET loan Home data statistics show that up to the end of 2014, Peer-to-peer industry accumulated turnover of 252.8 billion yuan, is 2.39 times times 2013. Internet financiers expect the market to be larger than 2 trillion yuan in 3 years. Relative to the third party payment, Jinxin Network chief operating officer Andanfang that the bank is more suitable for Peer-to-peer fund hosting. It is reported that the Jinxin network is actively engaged in the issue of funds and the bank to engage. According to reporters, the Peer-to-peer platform is more inclined to choose banks because of the hope that the use of banks for the platform to provide additional letters. In addition, in cooperation with banks, the CBRC will easily meet the regulatory requirements of the peer-to-peer industry. From a certain point of view, the Peer-to-peer platform in the bank to open a risk reserve account is a deeper cooperation between the two sides, the implementation of funds trusteeship rehearsal. Previously, nine fish had opened a risk reserve account at the Bank of East Asia, and 1% per cent of each loan was withdrawn as a risk reserve into the risk reserve account, which was tightly regulated by the Bank of East Asia. On the nine-fish platform, once overdue items are on the table, the risk reserves regulated by the Bank of East Asia will be the investors ' rigidity. Coincidentally。 February 12, the Ppmoney Internet financial platform also announced a series of deep cooperation with Pudong FA Bank, and agreed on a joint venture between the trading capital system and the risk reserve plan. Ppmoney general Manager Huxin said that at the Pudong FA Bank to set up a risk reserve account, the initial start-up fund for the risk Reserve project is 50 million yuan, and thereafter the risk reserve amount will be increased to billion levels. The hidden worries about the escrow of the third party's payment funds reflect the hidden worries of the platform to the third party to pay the fund trusteeship behind the one-sided platform. In September 2014, Mu Huibung, director of the Central Bank Law Division, said that the biggest risk in the Internet financial industry is the problem of market positioning and fund trusteeship, the core problem is to do a good job of fund-hosting. Andan to reporters bluntly, the third party payment industry itself is not standardized, the central bank has also in the receipt of orders and other issues on the punishment, and the traditional third-party payment companies involved in the Trusteeship model also has many problems. First of all, the third party fund trusteeship Business has no corresponding trusteeship qualification; Secondly, the standard and compliance of the trusteeship process can not be determined, even if the Peer-to-peer platform in the Third-party payment agencies funds, but also most of the payment company in accordance with Peer-to-peer platform instructions to operate, it is difficult to eliminate the self-integration, fictitious false mark, run and so on. "It is understood that the current Peer-to-peer platform is deposited in the Third-party payment company, all funds are unified in the payment of the company in the name of the bank account issued." The transfer of funds between internal accounts by third parties, which is not reflected in the banking system, is the place where regulators are most concerned, even if the payment companies are diverted and banks are not effectively screened. Guo Peng bluntly, as a commercial body, the Third-party payment company itself has operating risks, once the closure, Peer-to-peer platform will be implicated. According to the existing model, a platform can only be fixed a third-party payment company, once the Third-party payment company system problems, Peer-to-peer platform business will stop, and thus the loss of platform users. "Comparatively speaking, banks ' ability to resist risk, wind control and trusteeship are better than those of third parties, and they will not incur systemic risks because of a particular business." "Guo Peng Frankly, in the fund-hosting business to move closer to the bank, on the one hand, in order to comply with the supervision, on the other hand, is to improve the platform of" increase letter "degree. In December 2014, the "run-by" crisis of Shanghai Cheong-buy Enterprise Services Limited, which holds a third party payment licence, undoubtedly exacerbated peer-to-peer concerns. January 6, 2015, the central bank's Shanghai headquarters said that the Shanghai Cheong-shopping there are serious operating irregularities caused by capital turnover problem. Shanghai Chang-Shang may become the first bankrupt third party payment enterprise in China. Regulators have reservations about third-party payments to fund escrow. "Although there is no business crisis or closure of third-party payment agencies, this probability still exists, even to some extent, in terms of the intensity of the current pay market competition." "Shingwen said. Under the supervision blind area "entrust regardless" however, as the details have not yet been issued, the current P2P Industry fund trusteeship is still a regulatory blind area, there is no rigid regulatory platform to regulate the funds must be managed, the custodian is placed in the bank or third party payments are inconclusive. However, as a means to improve the "letter" and from the point of view of capital security, some of the platform to choose Third-party payments to carry out funds hosting business. There are also many large platforms that do not have funds to host. From the information disclosed by the regulatory layer, the future, fund trusteeship is the general trend. NET loan home data show that from 2011 to 2014, all of the running platforms are not through Third-party funds managed to operate. In view of this, peer-to-peer industry hope that the relevant regulatory rules for funds to be issued as soon as possible to prevent the organization "entrusted to ignore" the reality of embarrassment. In the 2014, although many platforms are exploring the cooperation with commercial banks for fund-hosting, there are only a handful of platforms that truly implement bank trusteeship. Most banks only "care". The scope of the escrow is also limited to the platform risk Reserve, not the full loan fund, which means that when the platform investor encounters the risk of payment, the bank will only use the Peer-to-peer platform to be covered by the managed reserve, and not be responsible for the transfer of funds and the dispute over possible ownership. "It is still in the early stages of fund-hosting, and most platforms are hosted rather than capital-supervised." From a certain point of view, the meaning of the support and not very small. "Guo Peng is trying to explore, hoping to work with the Bank of East Asia to develop a safe, stable, efficient, managed value of the hosting program." A few days ago, nine Dou fish to join hands with the Bank of East Asia officially launched capital Supervision strategic cooperation. The Bank of East Asia and Yiu Sheng Zhongguo signed the fund management Agreement. After the signing of the agreement, investors in the online banking services platform-nine fish (under the Yao Sein flag) funds account will be supervised by the Bank of East Asia, in order to maximize the protection of investors ' financial security. Peng said regulators should be clear about the implications of hosting services as soon as possible. "Hosting is not just about managing cash flow, it includes a lot of content, such as how to disclose borrowing information, how to determine the authenticity of borrowers ' borrowings, etc." "In addition, any organization, including Third-party payment platform, if you want to engage in internet banking, must also have the relevant qualifications, and through the inspection and determination of the regulatory Department, to engage in business." Andanfang also said that if the final confirmation of the trust is a peer-to-peer standard, then it should be stipulated by the law of the supporting institutions (banks or third-party payments) of the coordination obligations and services, the content of the service should be clearly stipulated in the regulatory obligations and related responsibilities, to avoid the trusteeship of the institutions and regardless of the situation It is noteworthy that Peer-to-peer platform-banking cooperation does not mean that banks will be fallback for peer-to-peer platforms. Bank trusteeship can solve the problem of fraud, reduce the appearance of false bid and capital pool, but it can not solve the market risk problem, still need to rely on the platform's own wind control capability. In a peer-to-peer platform, it is also related to the cost of hosting if the regulator has no hard rules on whether to choose a bank or a third-party payment institution as a custodian. The head of a peer-to-peer platform predicts that the cost of bank custody will be higher than third-party payments. Previously, 269 thirdThe party pays the company full market competition, causes the third party to pay the trusteeship cost to become more market-oriented.