A few days ago, with the upgrade of I-loan products, Ping An Pratt & Whitney added "micro-expression" technology and face recognition technology to the risk control. The so-called micro-expression technology means that when someone lies, the expressions of mouth, eyes and other parts will change, and the system will use this method to verify the authenticity of each question during the audit.
"China is very big, and there may be some regional risks. We will ask people in the region to tell us where we need special attention, so that the audit process will change from people to machines, from paper to data, and from offline to online. " Enoch Tsui, vice president of Ping An Pratt & Whitney, said that the purpose of doing this is to reduce operating costs, and the other is to greatly improve risk management and customer experience. "Now the success rate of the company's O2O target customer base has increased by 30%, but the credit loss rate has decreased.
With the implementation of the 20 16 internet finance supervision policy, more and more platforms begin to focus on short-term consumer credit according to the scenarios, and it is foreseeable that internet consumer finance will play a huge role in short-term consumer credit.
It is understood that there are several types of domestic companies that provide consumer loans to customers. One is a traditional bank, the other is a traditional small loan company, P2P, and the other is an emerging Internet company, such as BAT. At present, there are two business models of consumer loans: one is closed loop, that is, being a customer in its own system. For example, Ant Financial Services and Micro-loans are all aimed at customers in their own closed loop. Only a few financial institutions are outside the closed loop. For example, Ping An Pratt & Whitney 20 16 launched two short-term credit products, I Loan 2.0 and Oxygen Loan in the second half of the year, all of which are outside the closed loop, and all operations are completed online, without submitting work certificates or income certificates.
IResearch believes that the biggest advantage of Internet consumer finance lies in the convenience of borrowing. Traditional consumer finance companies may need several days or even a week's audit. The Internet relies on high technologies such as big data and artificial intelligence, and the audit only takes a few hours or even minutes. With the improvement of big data technology, some unstructured data can be collected, such as behavior data, text data, images and so on. The analysis and utilization of these data improve the accuracy of audit and reduce the risk of default.
"In 20 16 years, our credit loss rate and bad debt rate are the lowest in 1 1 years, and the credit loss rate is not higher than 5%." Enoch Tsui said that there are nearly 6,000 P2P companies in China, of which about 57%, that is, 3,400 have problems, and the credit loss rate of the whole industry may be above 10%, while Ping An Pratt & Whitney.
"The next few years will be a period of rapid development of the personal consumption loan industry." Enoch Tsui believes that, in his view, compared with developed countries, China's household debt level is still very low. In the United States, household debt accounts for 65,438+065,438+03% of household income, while in China it is only 82%. At the same time, the government is also encouraging innovation in consumer finance. Therefore, both the needs of society and the encouragement of national policies will boost the rapid development of consumer loans.