360 IOU is a personal and small and micro credit platform under 360 Finance. 360 Finance was incubated by 360 Financial Services (a group operated by Beijing Qibu Tianxia Technology Co., Ltd.), and after the split in September 2018, it was independently operated and developed as a financial partner of 360 Company. Therefore, the 360 ??IOU can be regarded as belonging to 360 Company.

With the popularization and progress of the Internet, a new financial situation, Internet finance, has emerged. Major Internet companies have set foot in the financial field. 360 IOU is 360 Company’s attempt and promotion in finance.

Internet finance refers to the combination of traditional financial institutions and Internet companies, using Internet technology and information and communication technology to realize intermediary services of capital circulation, payment, investment and financial information.

The characteristics of current Internet finance are:

(1) Low cost. Under the Internet finance model, financial institutions can avoid the capital investment and operating costs of opening business outlets. Consumers can experience open and transparent financial products, which weakens the information asymmetry that consumers had in financial services in the past.

(2) High efficiency. The business of Internet finance is mainly processed by computers, the operating procedures are completely standardized, and the business processing speed is extremely fast. Through the user credit database accumulated in the past, through data mining and analysis, and the introduction of risk analysis and credit investigation models, it only takes a few seconds from loan application to disbursement. Compared with previous financial services, the efficiency has been greatly improved.

(3) Wide coverage. Through the Internet financial model, time and geographical constraints are broken, financial services are more direct, and the customer base is broader.