As of July 24, 2017, Kakadai had more than 10 million registered users, nearly 7 million real-name registered users, and the user reuse rate exceeded 70%. The cumulative contract value of the credit card balance compensation product Kakadai under Weixin Jinke exceeded 10 billion yuan, successfully becoming a tens-billion consumer financial services platform. As the first credit card balance compensation product on the market, Kakadai uses financial technology to break through, explore credit value, maintain credit security for users, and has been recognized by both supervision and the market.
Fintech breaks through Kakadai and wins the trust of millions of customers
According to the China Banking Association's "China Banking Industry Development White Paper", as of the end of 2016, the number of bank credit cards issued reached 4.65% billion, the outstanding credit balance of credit cards was 4.06 trillion yuan, an increase of 31.4% over the previous year; the total outstanding credit for half a year was 53.57 billion yuan, an increase of 15.54 billion yuan from the end of 2015, a year-on-year increase of 40.9%, and the outstanding credit for half a year was overdue. The growth rate is greater than the growth rate of total outstanding credit.
Facing the vast market, Weixin Jinke launched its first smart credit product - Kakadai in 2015, innovatively developing credit card balance reimbursement services to help users pay off all credit card bills at once , maintain a good credit record and are trusted by more than 10 million customers. As of July 24, 2017, Kakadai had more than 10 million registered users, nearly 7 million real-name registered users, and the user reuse rate exceeded 70%.
According to media statistics, there are currently 12 major domestic credit card balance compensation service platforms, and new competitors are constantly entering, and the credit card balance compensation market has entered a period of vigorous development. Against this background, Kakadai has grown into the No. 1 player in the credit card reimbursement market within two years, and its breakthrough weapon is financial technology.
Kakadai relies on the technical resource advantages of its parent company Weixin Jinke Group. In terms of service model, it uses smartphones as terminals and through the mobile Internet to quickly grant credit to unfamiliar users, realizing full process automation and no manual labor. intervention, greatly improving the user's service experience; in terms of risk control technology, with the support of Weixin's "Hummingbird Cloud Risk Control" platform, the multi-dimensional "Vscore" risk quantification model is used to quantify credit value, implement risk pricing, and provide each Personalized credit limits and rates for each customer enable users with good credit to obtain higher credit limits and more favorable interest rates.
In 2015, Kakadai won the second prize of the "2015 Shanghai Financial Innovation Award" sponsored by the Shanghai Finance Office due to its innovation in model and technology. In addition, Kakadai was successfully shortlisted for Sesame Credit's "STS Plan" in 2017, and has launched in-depth cooperation with Sesame Credit in the credit ecosystem; it has access to WeChat's active repayment function to provide users with a more convenient experience and become a credit card balance repayment One of the first companies in the market to integrate WeChat payment.
Technology creates value, Weixin Jinke creates a new incubation platform
Kakadai is Weixin Jinke Group’s first tens of billions-level consumer financial service product, but it will not be the only one. The company said that in the future, more tens of billions of products in different vertical fields will emerge under Weixin.
It is understood that since its establishment in 2006, Weixin Jinke has been positioned in the field of personal consumer financial services, putting technology first in development and focusing on data accumulation. In 2012, after accumulating a large amount of valuable data, Weixin Jinke successfully developed the first score card; in 2015, the company proposed "data-driven, intelligent finance" and began to explore the use of technology to improve financial services and create greater value for users. ; In the same year, the "Hummingbird Cloud Risk Control" platform independently developed by Weixin to support intelligent product operation and risk control was launched.
At present, with the support of the "Hummingbird Cloud Risk Control" platform, in addition to Kakadai, Weixin Jinke has successively hatched dozens of smart credit products in different vertical fields, including those targeting e-commerce. Doudouqian, a cash loan product for the general public, Xingxing Moneybag, a product for women, and Anjiapai, a credit loan for Anjia consumption, etc.
Through the incubation of products in subdivided service fields, Weixin Jinke has achieved more precise customer acquisition, risk control and services in various vertical fields. On the one hand, it reduces customer acquisition and risk control costs and provides users with more favorable pricing; on the other hand, it greatly improves the user experience in the service process and provides users with maximum value.
Unlike banks and other financial institutions serving high-net-worth individuals, Weixin Jinke insists on serving a large number of sinking customers that are really difficult and valuable to do, and establishes commercial value from the business model and product system settings. On the basis of social value, it complements the existing financial service system in Chinese society and truly implements the development path of inclusive finance.
In addition, Weixin Jinke cooperates with banks and other financial institutions through various forms such as technology output, scenario cooperation, and joint modeling to develop more types of financial products and make financial services within reach.