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Peer to Peer Lending

China Fintech: 2nd Consumer Credit Bureau in Sight Now

On January 4, the People’s Bank of China (PBoC) accepted a license application for consumer credit bureau led by the National Internet Finance Association of China.  The name of the credit bureau is Baihang Credit Scoring. As of now, the Credit Reference Center of the central bank is the only consumer credit bureau in China. Lending has always been the prerogative of ... Read More »

China: People’s Bank of China Sets Up Credit Reference Platform for Alternative Lending Transactions

In order to tighten regulations on personal borrowings from alternative lending platforms, the People’s Bank of China, China’s central bank, has made plans to launch a platform by the end of 2017 for collecting personal credit information to assess credit ratings of people using alternative lending platforms. Over the past year, the intense expansion of consumer loans (mostly from online ... Read More »

Taking Care of Your ‘Digital Footprints’

Customers without credit scores can take the digital journey to get loans Rajiv Raj and Abhishek Agarwal co-founders of CreditVidya comment why fintech companies and P2P lending platforms are looking at alternative data, and how you should take care of your digital footprints Rajiv Raj (left) and Abhishek Agarwal, co-founders of CreditVidya. Mumbai-based CreditVidya, a fintech start-up, uses alternative data ... Read More »

RBI Issues Guidance for Peer to Peer Lenders

The Reserve Bank of India (RBI) issued Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017, on 4 October. By way of these master directions, the RBI has brought peer to peer lending platforms, also known as crowdfunding platforms, within its regulatory supervision and classified them as non-banking financial companies (NBFC-P2Ps). The master directions make provisions ... Read More »

The Pending P2P Lending Bubble

Fed Researchers Compare P2P Lending to Subprime Mortgages The peer-to-peer lending industry has the potential to destabilize consumer balance sheets, with loan performances bearing a striking resemblance to the subprime mortgage market before the 2007 crisis, warns a new paper from the Cleveland Federal Reserve. P2P lending arrived in the US in 2006, offering an alternative to traditional banks for ... Read More »

RBI India Guidelines in P2P Lending to Enable better Transparency

The guidelines introduced by the Reserve Bank of India (RBI) on P2P lending will bring a greater degree of transparency and seriousness to the sector, according to the exporters. i2i funding, a P2P funding company welcomed the much awaited RBI guidelines, considering the guidelines as a defining moment for P2P lending sector. While P2P is considered a credible alternative financing ... Read More »

Crisil Withdraws Proposal to Enter P2P biz: Finmin

Credit rating agency Crisil has withdrawan its application to enter peer-to-peer lending business, the Department of Economic Affairs had announced recently.  DEA, in the finance ministry, also said it has disposed of six FDI proposals aggregating to foreign investment of Rs 85.45 crore during September DEA, in the finance ministry, also said it has disposed of six FDI proposals aggregating ... Read More »

CEO Of Chinese Fintech Firm Creditease On the Future Of P2P Lending In China

Bridging the gap between China’s shadow banking and traditional banking sectors, CreditEase is an online lending and investment platform that represents the increasing importance of the Chinese fintech industry. The firm was started in 2006 by CEO Ning Tang, who attended the prestigious Tsinghua University in Beijing and worked on Wall Street prior to founding his company. Sara Hsu met ... Read More »

Credit China Eyes Online Payments and P2P

Credit China FinTech Holdings Ltd is planning more investments as it aggressively expands beyond its original loans and lease-financing businesses into online payments and peer-to-peer lending. The company, part of a consortium that offered to buy a stake in Ping An Securities Group Holdings Ltd last month, is in talks with “multiple” financial-services companies based in Asia outside China, said ... Read More »

P2P Lending: China Regulators Warn That 90 Pc of Peer-to-Peer Lenders Could Fail in 2017

Nine out of 10 of the mainland’s peer-to-peer (P2P) lending platforms will struggle to survive this year as the government rolls out tightened regulatory supervisions, according to a multi-agency report recently led by the Beijing Bureau of Financial Work.  About 500 P2P companies, out of the total 4,856 players across the nation, are likely to maintain their operations this year, ... Read More »

Equifax Appointed by P2P Lending Platform Flender to Support SME Loans

Equifax UK has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs. Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised.  The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan applicants, providing Flender with ... Read More »

BIIA in Action:  China Internet Finance Credit Reporting Forum 2016 (Dec 1-2)

Shine Consultants hosted the 2nd China Internet Finance Credit Reporting Forum 2016.  The event was attended by a wide range of industry players from the commercial banking industry, P2P lending, consumer finance, credit bureaus, risk prevention and big data companies.  The event was co-hosted by the Shanghai Credit Services Trade Association. For the second time BIIA was a supporting organization ... Read More »

China P2P Lender Lufax Announces Hong Kong & Singapore Expansion

Lufax, one of China’s largest peer to peer lending platforms, has announced plans to expand into both Hong Kong and Singapore. This news comes less than two months after the lender announced preparations for its Hong Kong Listing and IPO. Lufax Chairman and CEO, Gregory Gibb, reportedly stated the lender’s IPO could be next year’s largest. He shared:“We’ve been looking ... Read More »