According to Wang Chongyu, CEO of Cailutong, the best risk control system should be established after perfectly combining the respective advantages of human and IT. The advantage of manpower lies in the experience of judging risks, while the advantage of IT lies in the management of data. And analysis.
One word in the P2P online loan industry is very popular: "It is not the ability to lend money. It is the ability to recover it." What this sentence means is that transaction volume is important for P2P online loan platforms, but risk control is more important. Therefore, the P2P online loan platform that has the ability to “recover money†is bound to be a P2P online loan platform with a good risk control system. The financial road link is a P2P online loan platform that has always been committed to enhancing the ability to “recover moneyâ€.
Back to back wind control
The financial control system of Cailutong is divided into two parts: front-end wind control and back-end wind control. The front-end wind control is arranged at the borrowing entrance, which is the artificial side composed of salesmen. “Some borrowing projects on P2P online lending platforms are obtained from informal channels, including small loan companies, etc. For these projects, P2P online loan platforms are usually unable to reach their responsible persons, and all data are equal to indirect acquisitions. However, Cai Lutong's control principle for borrowing projects is that all of them only use projects that have been reviewed after a manual field visit, Wang Chongyu told reporters. Information review and collection are two important components of back-end risk control. At Cailutong, the work of each part will be shared by the corresponding artificial team and IT system.
For example, in the information review process of a loan project, not only the loan project needs to be initially judged based on human experience, it is given an audit opinion, and the project is given a comprehensive score through an IT scoring system, and the whole process is “back to backâ€. — That is, the status of manual auditing and IT scoring are independent and non-interfering with each other. Finally, the two results are aggregated to obtain the final loan quota for the project.
It is worth mentioning that the financial review IT rating system was independently developed by itself, and did not directly adopt the so-called “mature†scoring system in foreign countries, such as the FICO credit scoring model. According to Wang Chongyu, the FICO credit score model has been widely accepted in the United States. Its basic idea is to compare the borrower’s past credit history data with the credit habits of all borrowers in the database and check whether the borrower’s development trend is It is similar to the development trend of borrowers who are financially troubled, such as frequent breach of contract, arbitrary overdrafts, and even applying for bankruptcy.
At present, in the calculation method of various credit scores in the United States, the accuracy of the FICO credit score model is the highest, but this algorithm model is not suitable for China's credit environment. "The FICO Credit Score Model will involve hundreds of data fields, but some of the fields are not available to you in China. This results in the lack or inaccuracy of the original data, so the calculated results are also unreliable." Wang Chongyu It is believed that the credit scoring system developed by him has been used in a practical manner. “Qianlutong made reference to the principle of the FICO system, combined with the characteristics of the domestic credit reporting environment, and made a set of its own credit scoring system. The data source of this system is divided. There are three parts, one is the data obtained through the field visits, the second is the credit report from the central bank, and the third is the credit information service company with the credit information license."
Credit can be certified
For a company that expects long-term development, credit is the basis for obtaining more customers and trust in the market and winning more cooperation opportunities. This is especially true for P2P online lending platforms. Wang Chongyu told reporters that Cailutong Platform had obtained the AAA credit certification issued by the China Electronic Commerce Association on September 10, 2014. This also means that Cailutong Platform is a company with good credit, and it can be in the field. Play an exemplary role and have made due contributions to building a healthy and honest P2P network lending environment.
As a model of Internet financial innovation, the P2P online loan model has played a major role in achieving inclusive finance, enhancing investors' income from investment and financing, standardizing the Internet financial market, and promoting the transformation of traditional financial industries. Investors and markets hope that the industry will Can create a P2P online loan platform that can provide safe and reliable products and services.
Nowadays, Internet finance is in a period of rapid development. The innovative financial model of the P2P online loan platform is widely favored by investors. However, due to the current situation of lack of supervision, the P2P online loan industry has also experienced a crisis of confidence. †This has negatively affected the confidence of some investors. As a result, some P2P platforms that have always focused on improving the level of risk control of their own credit system continue to optimize their own corporate credit system architecture. At this time, P2P loan companies with credit will be able to maximize their value based on their own brand appeal and product innovation.
Wang Chongyu stated that Cailutong obtained AAA credit certification, proving that it can use honesty and trustworthiness as a code of conduct for platform operations, and can unswervingly abide by the principles of internet financial services, including the ability to protect the safety of investors’ funds and meet the required solvency and winds. Ability to control and effectively promote investment liquidity. Under the current background, the corporate credit rating of the P2P online loan platform can provide investors with an important credit reference basis, which will help investors to choose P2P online loan platforms with credit and stronger risk control capabilities to invest.
Internet finance
By analyzing and applying the features of the Internet industry and the characteristics of Internet products, Cailutong gradually explored a unique product development and operation model in the process of transition from the traditional financial model to the Internet financial model and the integration of the two.
The inadequacies and shortcomings of traditional financial product operating models have become a fertile ground for the innovation and upgrading of Internet financial products. Today, the P2P online loan model has experienced a period of ups and downs in the domestic financial market.
With the introduction of regulatory policies, the soundness of risk protection mechanisms, and the maturity of third-party payment platforms, the P2P network loan model is becoming a typical representative of Internet finance, and the boundaries between traditional finance and Internet finance have become increasingly blurred. Complete integration in mutual integration.
The characteristics of Internet financial products are that the purchase (ie, payment) process is convenient, the information is highly symmetrical, the supply and demand sides can directly trade, and there is a certain degree of exclusion of traditional financial institutions such as bank broker exchanges. The principles to follow are open and equal. The “Internet spirit†of cooperation, sharing, and decentralization adds certain financial rules.
Taking the wealth management product “Fengcai Pig†officially launched on September 25th as an example, the product innovatively realizes real-time cash withdrawal, high annualized yield, and “periodic†publishing and support in accordance with the characteristics of internet financial management. At any time after exiting, the product has attracted great attention in the industry once it is on the line.
Although the combination of the Internet and finance reflects more of the tool attributes, the emergence of emerging Internet technologies such as online payment, cloud computing, big data, and social networking is gradually changing the traditional financial industry, even at a certain level. Some of these businesses have achieved certain substitutions. More importantly, with the help of the characteristics of the Internet industry, financial products can achieve a direct and indirect financing model that exceeds the traditional financial model in terms of resource allocation efficiency. On the one hand, it can increase the liquidity of funds. On the one hand, it can significantly reduce transaction costs.