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Peer to Peer Lending

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 »

China Intends to Regulate Internet Finance

China recently pledged to improve supervision over the online finance market, including peer-to-peer (P2P) platforms, to reduce risks and support healthy development of the sector.  A policy document released by the State Council, China’s cabinet, tasked various government agencies with working to contain internet finance risks, improve the competitive environment and boost investors’ risk awareness. Internet finance refers to deposits, ... Read More »

Yirendai Became an Inaugural Member of the Credit Information Sharing Platform of Internet Financial Industry

Yirendai Ltd. (NYSE: YRD), a leading online consumer finance marketplace in China and a subsidiary of CreditEase, has been elected as one of the inaugural member companies of the Internet Financial Industry Information Sharing Platform (IFIISP) on September 9 in Beijing. IFIISP was launched by China Internet Finance Association (CIFA) and aimed to track credit information in the industry, enabling ... Read More »

China Toughens Control of P2P Lending with new Regulations

China issued a regulation on this week to toughen its control of peer-to-peer lending companies, thus cracking down on illegal fundraising activities through such platforms and preventing financial risks. Jointly issued by the China Banking Regulatory Commission (CBRC) and three other ministries, the regulation emphasizes the role of P2P lending companies as financial information service intermediaries providing assessment and exchange ... Read More »

Will FinTech Risk Models Have “Unintended Consequences”?

In light of the LendingClub scandal we find FICO’s discussion about the ‘unintended consequences’ most appropriate.  Here is what FICO had to say about this subject: “Last month the President of the San Francisco Federal Reserve Bank addressed the LendIt USA conference here in San Francisco. He talked about “unintended consequences” and the role regulators play in protecting wider economic interests. “I ... Read More »

The LendingClub Scandal

Changes in loan application dates, ineffective internal control systems and conflict of interest got CEO Laplanche fired.  Business model now in peril. LendingClub, which was seen until last week as the gold standard in FinTech startups, had its shares plunging 51 percent last week after the surprise departure of Chairman and CEO Renaud Laplanche and the disclosure of faulty internal ... Read More »

China’s P2P Lending Lackluster after Tightened Supervision

China’s online peer-to peer (P2P) lending platforms are losing their shine as regulators have tightened supervision to prevent risks.  Only four P2P firms were established last month, down from 12 in February, and the number of platforms still in operation had dropped for four consecutive months to 2,572 as of March, according to a research note of Yinhang.com, a financial ... Read More »

MoneySQ and Bridgeway form Hong Kong’s First Crowdfunding Platform

MoneySQ and Bridgeway form Hong Kong’s first crowdfunding platform for professional investors.  Information power will be delivered by TransUnion. MoneySQ, a peer-to-peer lending company in Hong Kong has partnered with an asset management firm to create what they claim is the city’s first investment platform designed for professional investors. MoneySQ.com formed an allegiance with Bridgeway Prime Shop Fund Management Ltd ... Read More »