When does the Peer-to-peer spring come?

In fact, Peer-to-peer this model, as early as abroad, has a mature model, but it was introduced to China's road is not smooth. In the 2007 Peer-to-peer was introduced to China, but until the end of 2011 only to start suddenly, and until the second half of the 2012, the Peer-to-peer is finally in the real sense of the stage into the outbreak.

Why has it suddenly come to life in the last two years?

1, the platform has no guarantee played an important role.

In the early stage, Pat was first involved in online peer-to-peer business, but the way in which investors can be completely risky is to say it is hard to get a potential client's approval, which is why the racket loan has been in the lurch for the first time (it was later inspired by other platforms that it changed its strategy, So it really ushered in the development of the spring), and in the later various platforms introduced a safeguard mechanism, whether the introduction of the guarantee company, or the platform itself, but as long as the investors have the premise of security, then the ability of members to be stimulated.

In fact, through the past two years of practice, this model has been more and more recognized by various platforms, and even many platforms have set up their own guarantee companies to assume this role.

2. Complete the market incubation period.

Just like the microfinance business of the year, the first few years, even if there are Zhong ' an, Sin, UA, these small Chinese lenders are engaged in the de facto small loans business, but not too many organizations and customers know, but this market cultivation of the work is in the invisible, Also for many subsequent practitioners and investors to provide a reference sample.

Peer-to-peer platform has also experienced this process, especially in the last year or two, such as everyone loans, Red Ridge venture, Sheng online and so on have completed the first batch of investment group education and inspiration work, which for the rapid follow-up of other platforms and member development has played a very good market nurturing role.

3, the financial environment has a preliminary.

As the domestic inflationary pressure continues to increase, on the one hand, the residents ' wealth is accumulating rapidly, while there is a real demand for the asset preservation and appreciation, the major banks have formed private Banking department and special Financial department in the past two years to adapt to this demand.

Financial needs are strong, but the channel is narrow. China's securities market has been in bear markets for many years, even the bull market has not seen how many shareholders make money, the real estate investment is very high threshold, in the increasingly stringent restrictions on lending restrictions, I believe that many people have been afraid to enter this market, the risk is too large; banking market products single, long term long-term interest rate low, less than 5% years Financial income products do not mention how many people's appetite.

In this kind of financial management environment, if there is a simple investment, security, high rate of return products, naturally will immediately become the new favorite of these investors, the nature of the rush is understandable. Bank financing products only less than 5% of the return, there are still a lot of people rob, not to mention now Peer-to-peer platform is more than 20% of the high yield rate.

In this context, the domestic rapid emergence of at least 300 peer-to-peer institutions, and this figure is still in the acceleration of the situation in the growth, light I know, the surrounding other individuals and institutions have been in the organization of various forms of Peer-to-peer platform is not less than 10, visible this momentum of the fierce.

Who is preparing to enter or engage in this industry?

There are too many institutions in China that want financial licences, or institutions that are already in the real financial business and want to be incorporated, but the licensing difficulties discourage these institutions, but now the new Peer-to-peer platform gives them a chance. Why is the opportunity, because the back of the year's small loans, third party payment, no one is not after years of chaotic development period, the success of the list of financial institutions, now peer-to-peer platform as if with the small loans and third-party payment situation, amazing similar, who dare to say in the next few years, the industry once bigger, Regulators have been incorporated, and the financial plates will not be left on the Peer-to-peer platform.

With the establishment of regular armies, nature can also from the current monopoly of the financial industry in a cup of scraps, than the original shy privately do capital business of course to strong too much, although not financial card may not be less earn money, but there is a name and no name, many organizations are still very concerned about, In particular, the current financial business supervision more and more strict situation, the more difficult to make money to muddle through the financial industry, the car or a comparison by unlikely some of the way out.

With the gradual deepening of the internet boom, in the face of Ma Yun commercial Empire, a more grand Internet financial map suddenly enlightened, which let many of the traditional financial giant crocodile envy, so many financial institutions are seeking to develop the Internet, and Peer-to-peer industry from its inception, Will finance and the internet tightly together, as the potential of the Chaoyang industry, at this time do not invest in a, but also when? Therefore, including the guarantee company, private equity or investment companies, even small loans companies, and even individuals have been involved in the swarm, which of course there are ping an group, the country opened such a Big Mac, Their accession, not only did not increase the sense of crisis on other platforms, but as a signal to enter the country to treat, other platforms are full of confidence, no hesitation to plunge in. Believe that this time the blue ocean will soon become the next Red Sea.

The first group of investment members of such platforms after nearly a year of investment excitement, also gradually returned to the rational analysis, the author has seen a lot of investment members of the very insightful article posts, may not initially be able to quickly find the business model of the problem, but with the industry and the model of understanding, The investment people also has the more objective view and the choice, this is worth gratified.

Who is serious in the implementation of the business model, who is in earnest to do the platform, in fact, it is easy to compare and see, paranoia in troubled waters of the platform, the eventual closure, escape is inevitable. Although the number of platforms now, but the author is not optimistic about the future of most platforms, hehe, a bit pessimistic.

Bleak platform outlook

Open the door and do business if the borrower and the investor cannot reach a sufficient base, can not effectively continue to expand, the platform has only two endings, one is to fall, because the surplus is not a loss, the second is incorporated, because you do but others, members will be lost, not to be acquired by others only the first way to go. Fish, the law of fast fish eating slow fish also applies here.

If the platform provides a guarantee to attract investors to enter, is this model sustainable? The answer is that many knowledgeable practitioners have given the answer, and why? Risk coverage issues.

Only a little platform charge, but taking on more and more of the business stock risk is in fact the same as the traditional guarantee company's business model, and the guarantee company, a particular product of China's specific period, has already shown the great risk of its business model in recent years, with the deepening supervision of the guarantee industry, which guarantees the company this " Freak "will also be eliminated from the stage of history, at least in the traditional consumer and business classes of the guarantee company will be out of the market in recent years, the policy of the guarantee company.

And now many platforms, actually do things and offline guarantee company is no different, offline warranty companies do not solve the business model of the mishap, go to the line, the same will not be resolved, because the final project risk is not with the offline changes in the line to change the nature of the risk does not change, or guarantee business, Unless you raise the platform fees or guarantee fees substantially, and once a big increase in these two charges, the original already high cost of online borrowing and can no longer attract enough qualified borrowers, even with the traditional small loans to compete with the qualifications are not available. Therefore, in such a model, the future of the platform can be basically foreseen.

Now some of the platform to do early has become aware of the issue of platform profitability, began to consider moving to financial products or to do PE, why? Because they run through this period of time, already from the business data has found this brutal problem----do platform does not make money. Do not believe that many sites outside the claimed loss rate of less than 1% of the argument, this is basically no real data support, just to promote the needs. Because whether the traditional guarantee industry or small loan industry, can not achieve such a low loss rate, and the current platform does not have more outstanding than the two types of institutions of risk review system and credit evaluation system. This is true even in the case of the Yi-shun model, and in fact, the author has always believed that there is a huge risk because this kind of creditor's rights transfer pattern, may temporarily not explode the risk in the circular rolling operation, but just like the Bank fund pool finances, only then stops at a certain point of time, you can calculate, the letter is deficient or earns, And now this pet-big financial institution, once the switch to accept the strict audit, it may be because the fund chain is difficult to trigger a large-scale collapse of its financial system, resulting in potential mass incidents, which instead let the regulatory body Troming, thus disguised achievements of its blindly nationwide shop-style rapid development. In fact, the ultimate risk of how much, heaven knows, it knows you do not know.

Of course, there is no guarantee mechanism for individual platforms, but the adoption of a mandatory decentralized investment in the appropriate way to avoid project risk, but also a good way, but this need long-term accumulation of practices, many small platforms do not disdain or have no time to do accumulation, the idea of earning fast money in the whole industry or more prevalent.

To construct a reasonable and effective risk assessment system, control the overall project risk rate of the platform, and guide the investment members to make rational investments in a decentralized way will really build the long-term stability of the platform, and many platforms even the basic wind control personnel do not have, how to talk about long-term development. It is only a few few that the current platform can be expected to be among the forefront of the industry in the future.

Peer-to-peer Future Star Reserve

Lu Jin is relying on its large and peaceful group background, not to mention, and its ambition is far more than peer-to-peer so simple.

The decentralized investment idea of Pat Credit can insist on its own body, while small scale is one of the reasons to maintain the lower cost of interest, but it needs to be further strengthened.

Kai Xin Loan of the state-funded background Let it from the day of birth to arouse concern, exclusively small loan cooperation Agency is also a feature, can wait to see.

In-line is based on the mature business model of replication and its own rules for improvement, after a period of dormant period, a great deal of later on the situation.

In fact, the online and Lu Jin is very similar, the heart will also observe the two platform is secretly stronger, from the trading rules to the design of advertising graphics, from the members of the incentive to promote the model, each other is like to learn, not to be outdone. And the most important point, the alignment of online and Lu Jin on the line platform is not limited to peer-to-peer network loans so simple, both are building their own vision of the Internet integrated Financial services platform, but the routines are different, specific ultimately who can successfully laugh, still need further observation, but there is no doubt that, Both online and Lu Jin have the best potential in the top three of the industry.

The whole Peer-to-peer network loan industry development, pay attention to the development of the two models can participate in detail one or two, words may be some absolute, but as two determined to do a century old shop business, from its business model description and the past step practice on the way is enough to peep sack.