Cash lending procedure

On May 30th, the Guangzhou Office of the Special Remediation Team for Internet Financial Risks issued the Letter on Demanding Strengthening Supervision on Some "Cash Loan" Platforms, requiring all district remediation offices to further investigate the "cash loan" platforms and disguised "cash loan" platforms.

The original "cake" of the industry is shrinking, and now the arbitrage space of supervision is further compressed. With the introduction of regulatory policies and the approach of filing time, the transformation of cash lending platform is imminent. In this context, those who are desperate are undoubtedly heading for the end of a dead end.

After the pain comes back.

The characteristics of cash loan, such as no scene support, no designated use and no mortgage, have been criticized. Recently, some cash lending platforms use the forms of commodity repurchase and leaseback to steal the concept and charge high interest in disguise, and a new wave of cash lending routines came into being.

Cash loans after "changing clothes" are more chaotic than before. A young man without a credit record is in urgent need of money and is likely to turn to online small loan institutions for help.

First, the platform will allow users to apply for a consumer loan to buy a 5,000 yuan mobile phone, and then the platform will buy back a 3,000 yuan mobile phone. It looks easy to operate. In fact, the "beheading interest" charged by the platform is 40%. By deducting the loan interest from the principal in advance, it bypasses the relevant regulations of the regulatory authorities that require the annualized interest rate to be within 36%.

If the user doesn't want to buy a mobile phone, there is another way to get cash: the borrower provides the detailed information of his mobile phone on the platform (usually the new phone is required to be used for no more than 3 months), and the platform evaluates the credit line according to the mobile phone. The borrower mortgages the mobile phone as a second-hand mobile phone, then rents it back from the platform and pays the rent every month. Under the leaseback mode, paying cash loans becomes a platform for buying second-hand mobile phones, and repaying principal and interest becomes a regular monthly rent payment.

Even if users have a strong defensive mentality and do not choose the above two methods, the cash loan platform has other routines. For example, borrowers can purchase membership cards and loyalty cards through the platform and apply for quick loans; The mobile phone in the repurchase mode has also changed from the mobile phone that I really own to the mobile phone that the borrower needs to buy at a price much higher than the market price in the designated mall, and then the mobile phone is repurchased by the platform. You can also combine the repurchase model with the leaseback model to charge higher interest. In addition, there is no shortage of hot cash loan platforms, all driven by the blockchain concept, but there are no good projects.

The problem with the Internet is often robbing Peter to pay Paul, and pressing the gourd to float the ladle. The problem of illegal cash loans that have been repeatedly banned has not been solved, and new chaos has emerged.

Cash loan to the sea

The domestic regulatory network is not loose but tight, and it cannot support the cash loan business of small and medium-sized platforms. Some people simply start over and start over in another market.

"Compared with European and American countries, Southeast Asia is a good choice in terms of geographical location and resources and environment." Chen Zhan said frankly that in the early market survey, Indonesian consumer credit business had fertile breeding ground.

According to him, as the most populous country in Southeast Asia, Indonesia has a population of 260 million. Its price level is comparable to that in China, with an average monthly salary of around 2,000 yuan. However, under such conditions, Indonesia's advanced consumption concept has supported the consumer credit market of nearly 100 billion US dollars.

"Young people account for a large part of Indonesian consumers, and they have a strong ability to accept new things. There are few competitive cash loan products in the local market, and even if there are, the experience is poor. Online services are still in the use stage of web pages on the PC side. " Chen Zhan revealed that the traditional Indonesian credit business is different from that of China. Taking credit cards as an example, the annual interest rate can reach about 36% when the installment interest rate is converted, and the annualized interest rate of private lending can even exceed 500%. Simply put, most Indonesians respect the marketization of interest rates and are insensitive to numbers.

What makes the domestic cash lending platform feel "happy" is that Indonesia's mobile Internet has shown the advantage of first come, first served.

First of all, it is difficult to get credit and collect money. "Indonesia's official data channel information is not uniform. Many Indonesians have multiple ID cards with different names, and the data collection steps are complicated. In addition, geographical dispersion, isolated islands and offline collection are also a problem, which makes many domestic cash lending platforms a headache. This is also the reason why the person in charge of Xiaomi Loan has visited many times, but he has never dared to' start'. " Chen Zhan said.

Secondly, in the face of the menacing trend of cash lending institutions in China, the Indonesian government has put financial supervision on the agenda. According to the regulations, overseas companies need to apply for a financial license to carry out financial services in Indonesia. For Internet finance business, cash loan business needs to be registered with the Financial Supervision Bureau (OJK) and apply for a P2P license. In addition, companies with overseas capital registered in Indonesia must own 15% of the shares of local Indonesian enterprises or citizens. The whole process of registration and license application takes more than 6 months.

In Chen Zhan's view, in order to gain a foothold in the Southeast Asian market, in addition to understanding the market and finding suitable partners and teams, it is also necessary to establish effective communication with local regulatory authorities. As the core of cash loan business, risk control needs special attention. When choosing a platform to explore the Southeast Asian market, most of them will put the wind control model and database in China, which can ensure the advanced technology and avoid fraud and repeated borrowing.

In terms of team division, the domestic cash lending platform mainly uses domestic talents for technical risk control, and local employees are mainly responsible for legal affairs, government relations docking, collection and recruitment.

Regarding the future forecast of overseas markets, Chen Zhan said optimistically that cash loans can meet the needs of low-and middle-income groups within a reasonable interest rate range, and the market demand is still strong. In addition, the financial regulatory authorities in Southeast Asia are quick to respond, and often don't wait until the market chaos is rampant, and pay attention to the balance between market and policy. No matter in any region, with the in-depth development of the market, the cash loan business will be more rationalized and adjusted, and it will move towards a healthy development path.

The halberd sunk in the sand is unknown.

At present, the domestic cash loan market is burning into the Red Sea, and the situation is really fierce. How did the once cornucopia become a hot potato step by step?

Investigate and deal with all kinds of violations and check all links in the business chain. Xiao Sa believes that, first of all, the borrowers of cash loans are not as qualified as bank customers. Take car loan as an example. Both Class A and Class B car loan customers are carved up by banks or auto consumer finance companies, and P2P car loan business can only leave Class C and below customers, so its customer quality is inherently flawed. Companies with capital often go astray in order to avoid risks.

Front.

Secondly, in daily operation, the cash loan industry has been widely developed earlier. Internet finance companies have inherited the genes of Internet companies. Running quantity and scale are everyone's early goals. Intermediary rating agencies and investors also take the transaction volume as an indicator to evaluate whether the platform is of high quality. Under this guidance, all major platforms take the expansion of scale as the primary task, which leads to a great reduction in the implementation of risk control and compliance.

Finally, the infrastructure of the mutual gold industry is backward. From the perspective of investment, the cash loan industry chain involves many things. In the whole process, it has become an industry practice to give investors rigid compensation, which is difficult to shake. Correspondingly, once the borrower is overdue, the platform is bound to advance funds. However, with the increase of bad debt rate, the platform is under great pressure to advance funds and is in danger of bankruptcy at any time. Therefore, it is bound to increase post-loan collection, implement violent collection, and pursue payout ratio.

According to the regulatory requirements, the development of cash loan business should follow six principles, that is, put forward compliance requirements for cash loan business from the aspects of access qualification, interest rate and collection method. Since the operation is strictly guarded against death and the operation safety of the cash loan platform is guaranteed, why are there various disguised cash loans?

The reason is that many experts say that the popularity of cash loans is caused by the poor accessibility of formal finance. Ouyang Rihui said that there is no official definition of cash loan, and there are overlapping areas with other internet finance, consumer finance and traditional bank credit business, and the distinction is not obvious.

Meanwhile, according to Xinhua News Agency? China Social Credit System Development Report 20 17 issued by Wang Zhiku and Qianhai Credit Bureau shows that the personal credit information system of the People's Bank of China contains 899 million natural persons, of which 4120,000 people have credit records, which means that 487 million people have no credit records and cannot enjoy normal financial services. The existence of too many white borrowers objectively makes it difficult for formal financial institutions to obtain loans and gives a hotbed for the vicious development of informal cash loans.

Supervision should be blocked and sparse.

After 20 17 12 Notice on Standardizing and Rectifying Cash Loan Business was issued, the cash loan platform obviously reached a crossroads. It is worth thinking that after the introduction of the regulatory rules, the mixed market behavior should be alleviated, but the non-compliant cash loans have not disappeared.

Sam agrees with this view. She mentioned that in the face of the actual situation of industry development, the regulatory authorities should coordinate the interests of all parties, and the introduction of policies needs to directly address the pain points of industry development.

On the one hand, the supervision of cash loans needs to pay attention to the compliance of platform operation, continuously crack down on all kinds of routine loans, and punish the behavior of asking borrowers to sign yin and yang loan contracts, urging borrowers to sign inflated loan contracts in various names such as "liquidated damages", "deposit", "agency fees" and "service fees". On the other hand, we should also control Lao Lai's malicious default and long-term lending. The establishment of personal credit information system and the sharing of industry blacklist will help to crack down on Lao Lai.

"If a series of supporting documents such as the implementation rules of the online loan platform filing system can be actively implemented, it will also effectively promote the healthy and mature development of the industry." Xiao Sa added.

Cultivate internal strength of wind control

If the outbreak of 20 17 cash loan is that bad money drives out good money, then the era of good money has arrived. Doing a good job in risk control is no longer a false proposition, but the foundation for every cash loan platform to settle down.

The quality of customers almost determines the level of bad debts. Cash lending institutions seeking transformation, except a few high-quality customers, are generally worried about customer quality. It is undoubtedly suicide to enlarge the cash loan quota for customers with poor qualifications, so the cash loan platform can only seek new channels for obtaining customers.

However, the time left for the cash loan platform is running out. After the regulatory authorities issued the rectification policy, the financial report in the fourth quarter of 20 17 was immediate, with the volume of transactions and the number of borrowers both decreasing month on month, with a net loss of 500 million yuan, and corresponding situations occurred in all major cash lending platforms.

Liu Siyu introduced that a complete risk control model includes four elements: First, it can effectively collect the credit information of borrowers; The second is to construct enough personal loan samples and analyze the behavior characteristics of borrowers; Third, there is a long enough observation period to evaluate the various repayment behaviors of lenders; The fourth is to form an effective solution to identify malicious fraud.

Obviously, in the early stage of growth, the cash loan platform does not have these characteristics. In order to comply with the regulations, various platforms are now cooperating with a number of third-party credit reporting agencies and e-commerce platforms to obtain social, e-commerce and personal credit information of potential borrowers by purchasing or cooperating to develop Internet personal credit products, which is the basis for expanding risk assessment parameters and improving risk control models. Finally, it introduces the credit scoring mechanism for individual borrowers, including anti-fraud audit, personal credit rating, income and social consumption patterns.

Not only is the risk control difficult to do, but the investment of real money may not be able to stimulate the splash. The cash loan with long term and large amount is much worse than the previous products in terms of income. Risk control is not done well during the exploration period, which may even lead to the risk of loss.

The pain of slowly spitting out the money you have eaten is self-evident. However, it may be difficult to see a bright future if the cash loan platform that is struggling to support at the moment cannot persist.

This article comes from Economic Net-Economic Magazine.

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