For a long time, bank loans are mainly issued by large enterprises, as well as many small and micro enterprises, small and medium-sized enterprises and individual and private enterprises. There is a problem of loan difficulty. At present, banks, lending institutions or p2p online lending platforms have many products for you to choose from: mortgage, car loan and corporate loan, while consumer finance is more used in household appliances, tourism, marriage and education, which helps banks to explore new markets and businesses.
Second, consumer finance helps to change the imbalance of bank assets and liabilities.
Because the vast majority of bank loans are brought to large enterprises, and the amount is huge, but many large enterprises finally fail to pay the loans, resulting in bad debts. However, compared with loans from large enterprises, loans from small and medium-sized enterprises or consumer finance are still relatively few, especially consumer finance loans, which are more conducive to the smooth repayment in the later period. Therefore, actively developing consumer finance business can gradually change the imbalance of asset-liability structure.
Third, consumer finance helps to improve the transmission mechanism of monetary policy and expand domestic demand.
In expanding domestic demand, consumption plays an important role in economic development. Only consumption can stimulate GDP, so developing consumer finance is a key to stimulate domestic demand. However, due to the price, some areas need financial support in consumption.
This is the role of consumer finance from the economic and financial aspects. For our consumers, the biggest advantage is the five advantages of fast approval and unsecured guarantee.