from formally launched in July last year, P2P financial platform building box turnover has reached 11, covering more than 300 projects. The company is how to do? Let’s listen to the founder Dong Jun answer.
q: last time, financing, Yintai capital investors guo jia said you have a lot of risk control model. I don’t quite understand what mean.
she should is refers to the previous data routing. We will of due diligence process is decomposed into different modules. A financial product, about 30-40 modules, modules shall be the responsibility of the personnel. Will get the data into the model, can repayment to the enterprise and profitability has a roughly screening, again on this foundation for screening.
this is our company initially provided to financial institutions outsourcing tools “76 hui qi hui”, now it has nearly thousand corporate clients. Another system “block box” is based on qi le remit to do financial product design, risk judgment.
than financial institutions by a project manager to finish all due diligence process of traditional practices, it is easy to happen some delay or omission. Qi hui for is someone who’s in charge of a specific field, such as there will be a person to collect and sort out the bank statement of account, another special attention to sources of information on credit reports, some specialized third-party verification with the third party information. The division of labor greatly optimize the accuracy and efficiency of due diligence, can also reduces the cost of 4/5. It is credit factory assembly line model.
q: every financial products need to test 30 or 40 modules?
we will according to the product we need to know what kind of information, to combine modules. Personal credit loans, for example, may need to use five modules; Enterprise business loans, may need to know about 20 modules.
q: what information need third-party verification?
as far as possible, we are doing third-party verification, especially the key material. But different financial products, risk concerns. Such as mortgages, is of particular concern for assets, personal information instead of special attention. For credit products, because can’t do mortgage assets, will pay more attention to his credit standing. The specific role at this time we will go to the people’s bank of China to get his credit report, lest there is tampered with, false.
q: how long it would take a due diligence on the average time?
we if companies to cooperate, we can finish within five working days.
q: lego box requirement for risk?
the Banks do not basically industry we don’t do, can avoid some potential risk bigger industry or industry policy is not supported. Such as real estate, such as resource, steel trade. Risk threshold depends on what kind of products.
q: Banks do not client, P2P to do, the risk is not big?
it is hard to define the bank not lending is a higher risk of enterprises. Bank main service customer or large enterprises. 70% of China’s GDP comes from the small and medium-sized enterprises, but less than 3% can get a loan from the bank. In addition, the problem of Banks due to its own system, sometimes too late loans to enterprises, or product is not suitable for the needs of the enterprises of the bank.
q: how to guarantee company cooperation?
now products is guaranteed by a guarantee company, is take unlimited joint liability guarantee.
q: all compensate?
is all pay principal and interest. We prefer to cooperate with three kinds of guarantee companies: one is very big state-owned guarantee company. Quality is very high, their mutual measures is also to have certain business volume. This class we have now in hebei province with the biggest state-owned guarantee company hebei investment cooperation. Second, the foreign guarantee company, will be specification. Three are in the market segment has the resources guarantee companies, such as we now cooperation guarantee company wei jia ansett I love my family.
but is just a credit guarantee company one of the measures. We compare the important characteristics is that all customers by our enterprises remit to do due diligence, again by the team for their own independent judgment. But participation have difference. For state-owned guarantee, they approval is very strict, similar to the bank, we just do auxiliary adjustment.
q: the first is you go to guarantee company cooperation?
guarantee companies come to us very much, because lego box online financing ability is very strong, we’re basically in a state of project of hunger. But a lot of guarantee company recommended after the project, I hope we don’t go to their clients with the tones, but this logic doesn’t work here. Because we are not a guarantee company, we’re just a reasonable financing platform, platform, or the borrower. Our loans on the background of the company itself, rather than because of a guarantee company guarantee.
q: if you don’t work with guarantee company, a problem you need a lot of money?
this is not necessarily. Indeed, guarantee company is one of the credit investigation measures. But do you want to inquiry, depends on your ability to choose to the borrowing enterprise, we think about borrowing enterprises choose ability and autonomy is very strong, rely mainly on reimbursement ability of the enterprise itself. We more good enterprise, and guarantee company is a kind of auxiliary reference. Because the risk or in the real source of repayment and loan purposes.
beginning in April of this year, we began to disclose some of our surplus data, one is what we called mutual gold risk. Risk of mutual gold is not our own money, and every project before financing, have to put 3% of their financing amount in a pool, this 3% will be a layer of investors for the risk to provide system protection. The pond is not the kind of pools of capital regulation said, it is a mutual insurance plan. After the project, if the enterprise during the period of loan without loss, this 3% will be returned to the loan business. If during this period to share the loss is equivalent to everyone.
q: if the enterprise can’t repay once happen, how much will compensate investors?
the principal and the benefits of investors is one hundred percent compensation, compensation until 3% done not have.
q: how to use this 3%?
the first layer is the enterprise is unable to repay, penny money didn’t come back; The second is that if he have credit promotion measures, such as guarantee company, also is not. Under the condition of the two layers are worn out, will touch the 3%. If corporate defaults, no credit promotion measures, can only use the 3%.
q: all companies were involved in the mutual insurance plan?
now all involved in the project, in addition to state-owned guarantee, the credit endorsement because it is strong enough.
q: there are not payment on time?
more than 360 projects have been expire reimbursement of more than 160. The rest of the some 200 project hasn’t expired. There is no bad loans.
q: platform project is much amount to borrow to you?
is the sum of the average project 3 million, there are a few small micro enterprise loan is hundreds of thousands, millions. This assured at billions of scale state-owned guarantee companies vary widely.
q: companies to borrow money, which is mainly engaged in the business?
it’s difficult to say, the industry of different enterprise loans are not the same. But mainly is the circulation field, such as retail, wholesale, 4 s shop. In addition to agriculture, services and manufacturing.
q: investors are what kind of person?
our investors not more than 100000, mostly in the age from 20 to 40 years old, from all over the country. Our investors are all online. We don’t have the offline stores, also do not intend to build offline financial stores. Online biggest advantage is that it won’t have any mismatch of funds, investors can be more free to choose what he need to invest in projects.
q: some platform investment threshold is set to 10000, they think it will let investors think about more, after all is not lost don’t worry about a few hundred pieces. Why do you put the threshold is set to 100 pieces?
or go to a team’s starting point, we want to make an open, can be born platform, we hope to do more customers to experience.
q: stick someone says your marketing cost is very high.
I don’t know how much we specific marketing expenses is high, but the average marketing cost is not high. Horizontal contrast our total marketing cost is relatively high, but I think, because we just remain unresolved, must be in marketing expenses. The second is the country’s 2000 P2P companies, there would be seven money there from the mainstream of vc, so growth is fast. Relatively speaking, the charge for the seven overall marketing is higher than the rest, but not waste money.
q: how do you get feedback of investors?
we really pay attention to the communication with investors. We have a group composed of thousands of investors. Every week Monday 9 to 10 o ‘clock in the morning, I will communicate with investors, with the core team how to do the project more transparent.
now we will have a month will be in the same market, is to allow investors to sign up to communicate with us, and to explore what operations, not to preach to recommend products.
q: compared with the enterprise financial or P2P, you risk control team is large?
is very large scale. From the capital scale, we may be sales size is the same as the bank in a street, but the risk of bank business control team usually only a few people.
but now is not up to our production scale. That is to say, now the project scale doubled, we don’t have to add the risk control of team staff.
source: fixed point technology