Which platform is Ant Set on?

One of the top ten outsourcing collection agencies of Ant Group.

The prospectus of Ant Group reveals the huge credit business of Ant Group: by the end of June 2020, the credit balance was 2153.6 billion yuan, of which 98% of the credit funds came from banks and other financial institutions, and the loan balance in Ant Group was only about 40 billion yuan. In other words, behind Ant Group's 2. 1 trillion-scale loan assistance is bank funds.

According to the prospectus, Ant Group not only provides investors with services such as customer acquisition and risk control screening, but also undertakes post-loan monitoring, service and collection.

For all consumer credit promoted through the platform of Ant Group, Ant Group provides post-lending services, including: Alipay will automatically send repayment reminders to borrowers; Most repayments are set to be automatically repaid through the borrower's Alipay account; When the consumer fails to repay the loan on time, according to the contract, the company has the right to deduct the principal and interest directly from the balance of the consumer's Alipay or Yu 'ebao account, or from its associated debit card.

In terms of collection, Ant Group determines the collection priority according to factors such as the length of loan arrears. Most of the collection activities of Ant Group are carried out through automated digital processes, such as payment reminders in Alipay, text messages, voice messages, or collection calls initiated by artificial intelligence.

If a sum of money is spent in loans overdue for a period of time, Ant Group will usually outsource the collection business to a third-party service provider to optimize the collection efficiency.