Source: Commercial Telecommunications

2016 is "13th Five-Year"; the first year of planning, "regulations" become the state's requirements for the Internet finance industry. The rise of market-based credit reporting agencies is clearly an industry trend.

  At the end of 2015, the P2P industry fell under the influence of a certain treasure, and the whole industry entered the challenge period. In this regard, Beijing Municipality issued the “Opinions of the Beijing Municipal People's Government on Actively Advancing “Internet +” Actions”, which gave the market a shot in the arm. Among them, Internet security supervision is highlighted. The p2p under supervision must adhere to the platform function, clarify the nature of its information intermediary, and not raise funds illegally or provide guarantee. It is obvious that Internet finance in rectification and mergers will move forward during the turmoil, and the focus in the P2P industry is risk management.

   As of the end of 2015, the number of P2P industry problem platforms has exceeded 1,200. A large part of these problem platforms are due to the liquidity crisis caused by excessive bad debts, which ultimately dragged down the platform. The entire P2P, small loan industry, high bad debt rate is an industry pain point that can not be bypassed. China's market environment cannot be compared with the mature credit system in Europe and America, and only a mature credit system can enable Internet lending platforms such as Lending Club to have the ability to control bad debt rates.

  In short, the essential reasons for the high bad debt rate in China's P2P credit industry are fraud risk and credit risk.

   On November 28, 2015, the “Interim Measures for the Management of Business Activities of Internet Lending Information Intermediaries” was released. During the rectification period in 18 months, the p2p industry will inevitably experience a major reshuffle. As a member of Sunshine Insurance, Renren Credit Management Co., Ltd. (“Ren Ren Ren”) has positioned itself as a financial credit data service provider. They are willing to use strong risk identification capabilities to help valuable Internet companies survive.

  Industry sources said that the current P2P company's risk prevention measures mainly rely on the professional risk control personnel before the loan, and the effective collection means after the loan to control the risk. This is a common phenomenon in the industry. Although the big data and forecasting winds have already come under the trend, how to control the wind control can really help the risk control, and the industry is still holding a wait-and-see attitude.

  “P2P's pain point is high bad debt rate, the fundamental reason is that their risk identification ability is insufficient, and the input and output of risk control is relatively low. ” Wang Chenru, CEO of Renren, who specializes in big data technology, said.

  Compared with the mature credit system in Europe and America, China’s credit information market has just started. According to the predictions of domestic institutions, the market related to credit reporting is actually a very fast-growing market of 100 billion yuan. . Anti-fraud, blacklists, credit ratings, big data, etc. are prosperous. The P2P, which is mixed with savage and savage, is also in urgent need of a rational return. In the context of a very risky society, everyone's letter has become a clear spring in the industry. According to the reporter, the Renren Data Service is designed to help credit companies solve customer identification, risk verification, risk warning, and overdue customers report to the central bank for credit reporting. These are used before, during, and after the loan.

   It is reported that the credit data of Renren has extensive experience in anti-fraud, and the hit rate of the risk list is nearly 10 times higher than the industry average. Team members from companies such as Alibaba, Baidu, Huawei, and IBM have professional data analysis technologies, and their “credit risk control model” has been successfully applied in the Internet finance field.

  The vast majority of the financial industry's actions are derived from the analysis of “Big Data”, through the huge data analysis, the fastest data to calculate accurate data. The current data sources of Renrenxin are as follows. The core data source comes from the insurance data and credit data of the Sunshine Insurance ecological accumulation for more than ten years, which is rich in financial attributes. In addition, it also cooperates with the outside world. For example, e-commerce and operators integrate a large amount of user behavior data. At the same time, Internet crawlers are constantly collecting and updating various types of Internet open data. On the basis of big data, machine learning algorithms such as linear regression, gradient lifting tree, and multi-layer neural network are used to train various credit models, including application scoring, behavioral scoring, collection scoring, and market scoring. Explain in a more professional way how to help users predict the risks that may occur, and give users a cleaner and safer system guarantee.

 Internet finance has realized financial financing through Internet technology and mobile communication technology, making traditional financial services more transparent, more engaged, more collaborative, lower intermediate costs, and more convenient in operation. feature.

  In the face of an unclear future, the falsified commercial market, perhaps everyone with a large and reliable data source, risk identification capability, and excellent credit model can contribute to the standardization of the industry. In any case, China's P2p industry will eventually integrate into a mature credit system, and China's Internet financial market will eventually return to the right path.