Small cash loan market and product analysis

In the past few years of the rapid development of Internet finance, there is an industry that has been pushed to the forefront in the past year or two, firstly because of its The development has filled the gaps in the financial industry and implemented the concept of inclusive finance; secondly, it has attracted various doubts due to high interest rates and industry irregularities. It is the small cash loan industry.

In 2013, Yu’ebao was launched, driving the rapid development of the Internet financial industry. The essence of finance is the connection of funds, and Internet finance is no exception. One end connects borrowers and the other end connects investors. Yu'e Bao makes it possible for "universal financial management"; the cash loan industry can be said to make "universal borrowing money" possible.

Without further ado, let us unravel the mystery of the cash loan industry and analyze the excellent cash loan products on the market.

Cash loan is the abbreviation of cash loan business. It is an unsecured, unsecured, and scenario-free credit loan granted to natural persons. The borrowing and repayment methods are flexible and convenient, the approval is timely, and the credit is received quickly. Generally speaking, cash loans refer specifically to short-term cash loan business, that is, personal loans with a loan period of 6 months or less and a loan amount of less than or equal to 10,000 yuan

According to the types of cash loan businesses currently on the market, you can They are divided into four categories: borrow-and-repay loans, ultra-short-term loans (similar to foreign payday loans), short-term loans, and medium-term loans.

Baidu search index shows that the cash loan industry has been booming since 2015 and reached its peak in 2016. In 2017, as supervision became stricter, the industry faced a big wave.

The cash loan industry allows long-tail users who cannot be served by banks to enjoy financial services. This is inevitable for the development of the market. Before the emergence of Internet finance, "private lending" and "private lending" were the prototypes of cash loans. Cash loans solve the urgent funding needs of small users and are deeply loved by users in market segments. At the same time, cash loans have been questioned recently, with all kinds of negative news emerging one after another, heavy supervision, and a reshuffle is coming. For excellent cash loan companies, this may not be a bad thing. The big waves wash away the sand, and all that is left behind is gold.

At present, the cash loan industry is a mixed bag. Some of the more outstanding ones on the market include 2345 Loan King, Cash Bus, Mobile Phone Loan, Paipai Dai, and Yiren Dai. This article focuses on analyzing the ultra-short-term small cash loan industry. Strictly speaking, Yirendai borrowings do not fall into the category of ultra-short-term loans. Although Paipaidai’s borrowing side does fall within the category, due to the large number of comprehensive businesses of Paipaidai, it cannot be completely regarded as a small-amount loan. The cash loan industry is also beyond the scope of this article.

Before analysis, we first have a preliminary understanding of these three companies.

Mobile loan is an intelligent microfinance product under Qianlong Financial, based on an intelligent risk control system based on big data, cloud computing, and machine learning. Since its establishment in October 2013, it has accumulated nearly 20 million registered users, making it a promising company for investment by Sequoia Capital.

2345 Loan King is a small cash loan product under the A-share listed company 2345. In the first half of 2017, 2345 Loan King’s net profit was more than RMB 400 million, accounting for half of 2345’s revenue. It is well-deserved Money-attracting king.

Cash Bus is a full online process network loan APP based on the mobile Internet, which mainly solves users' micro-loan needs in daily life. The "Cash Bus" service team uses big data and machine learning to create a fully automated process, aiming to provide users with a simple, convenient, flexible and fast new borrowing model.

Next, let’s briefly analyze these three products from the perspective of user experience elements. The user experience elements from abstract to concrete are: strategy layer, scope layer, structure layer, framework layer, and presentation layer, as shown in the figure below:

The functions of the cash loan app are very simple, and the basic functions include borrowing money , certification, card binding, progress inquiry, repayment, etc., almost all of them are available. In terms of expanded functions, mobile phone loans are the richest. Mobile phone loans can be used for flash loans and cash installment loans. If the platform funds are insufficient, they can be diverted to other cooperative platforms. Currently, they are relatively large. However, mobile phone loans lack the function of users actively initiating limit increases, and limit increases can only be initiated by the system.

The simplest function range is Cash Bus, which is similar to the flash loan function of mobile phone loans. It only provides 500/1,000 yuan, 7/14 days of borrowing, and there are many restrictions on the loan amount and loan period.

The functional structure of small cash loan products is relatively simple. The following performance layers are: mobile phone loan, 2345 Loan King, and cash bus.

Mobile loan and 2345 Loan King have scrolling advertising spaces at the top, which are basically the same routines on the APP. However, the price comparison of the advertising copy design of mobile loan is ugly. Why are the designers of mobile loan doing that? Already?

In terms of functions, mobile phone loans are available in cash installments and single installments. Currently, mobile phone loans mainly promote cash installments, and the amount and number of periods are also constantly increasing. Installment products have lower risks and higher handling fees than single-issue products. , and can improve user stickiness. The interface of 2345 Loan King is relatively simple. You can slide the loan amount to choose at will, but the loan period is limited to 1 month. The function of the Cash Bus product is extremely simple, with two amounts and two types of terms. It is a product that maximizes the ultra-short-term borrowing experience. However, the shorter the period of ultra-short-term products, the higher the overdue price will be, but the corresponding platform income will also be higher (earning overdue penalty interest, etc.)

The common path for the development of Internet finance was first set off by Yu'e Bao The wave of national financial management, then the mushrooming of P2P companies, and then the explosion of the small cash loan industry. There are still hundreds of millions of cardless (credit card) users in China, and their financial needs are also urgent. The author believes that companies that can do the following things well can survive in the waves.

1) Understand the essential needs of users. For example, users of small cash loans pursue borrowing money first, and borrowing money quickly second. For the sake of speed, there is no insight into the core needs of users.

2) Multi-dimensional risk control system. The intelligent risk control system based on big data depicts the probability of user loan overdue from more dimensions. Risk control and user experience are seesaws, and a balance needs to be found. One of the future development directions of big data risk control is how to build a risk control system based on high user experience.

3) Keep up with the regulatory pace. The biggest risk in Internet finance is regulatory risk. Small cash loan companies need to keep up with the regulatory pace, understand regulatory policies thoroughly, and cooperate with reforms in a timely manner. Companies that take chances often don't make it far.

To sum it up in six words: users, risk control, supervision

Has anyone used Zhongan Small Loan? Comprehensive analysis of Zhongan Small Loans

Everyone knows that when applying for a loan, you need to check the lending qualifications of the online loan platform first to avoid applying for irregular loans, resulting in high interest rates and inability to repay. Many borrowers have downloaded Zhongan Small Loan among many loan software. Has anyone used Zhongan Small Loan? A comprehensive analysis of Zhongan Small Loan is here, let’s learn more about it together!

Has anyone used Zhongan Small Loan?

Zhongan Small Loan is a personal consumption loan product launched by Chongqing Zhongan Co., Ltd., the parent company is Zhongan Insurance, and the company has an Internet small loan license. Users need to be residents of mainland China aged 22-55 years old, with good personal qualifications and credit status, and no obvious shortcomings.

It has been two years since Zhongan Microcredit App was launched and has 30 million registered users. It provides consumer loans to Class C individual customers and operating loans to Class B small and micro enterprise customers. Continue to provide customers with compliant, safe and convenient services.

Users can directly download the APP or operate through official third-party channels. Users need to register and log in with their mobile phone number, then perform face recognition and ID card authentication, bind their bank card, and submit the information for review.

The credit limit range of this product is between 30,000 and 200,000, which is subject to the actual approval results. If the user's comprehensive evaluation is good and his credit status is excellent, he will have the opportunity to obtain a large amount. The term range is 6-12 months, you can choose according to your needs.

After the borrower's loan application is approved, the loan can be successfully disbursed in as little as 5 minutes, depending on the funding speed, the number of people waiting in line, etc.

The above is the sharing of relevant content about "Has anyone used Zhongan Small Loan?", I hope it can help everyone!

Which bank's small loan is more suitable for you, including Quick Loan, Flash Loan, Puyin Dial Loan, and Rong e-Loan?

Lending money is a very embarrassing thing. People you don’t know well will not lend you money, and you are embarrassed to ask people you know well. So, is there a channel through which you can borrow money? Don’t you have to consider these favors? Of course, you can choose a loan. Taking bank loans as an example, you can choose from bank online loan products such as China Merchants Bank’s “Flash Loan”, China Construction Bank’s “Quick Loan”, Industrial and Commercial Bank of China’s “E-Borrowing”, and Shanghai Pudong Development Bank’s “Shanghai Pudong Dial Loan”. Of course, each product has different characteristics. Luge (luxiaodai360) will analyze the four products through application conditions, loan amount, loan interest rate, repayment period and other dimensions to help everyone choose the one that suits them. 1. Before analyzing the product characteristics, let us first give a brief introduction to these four products.

1. China Merchants Bank’s “Flash Loan”

Introduction

It is a fully online personal online loan product provided by China Merchants Bank to our retail customers. As long as the customer meets the loan credit conditions of China Merchants Bank, China Merchants Bank will take the initiative to determine a loan limit application qualification for the customer and notify the customer through SMS and other methods.

Features

Compared with the traditional loan business, the "Flash Loan" product is simple and convenient. Customers can apply for a loan through China Merchants Bank's mobile banking, and the bank system automatically completes the loan approval. and lending.

2. China Construction Bank “Quick e-Loan”

Introduction

It is a self-service application for individual customers through CCB’s electronic channels, online real-time approval, online signing, and self-service A full-process online self-service small credit loan.

Features

Easy to operate, get a loan in minutes

You can shop on domestic e-commerce websites and use "loan account payment" in online banking payment

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You can use the debit card signed by Quick Loan to make purchases at merchant POS

3. ICBC “E-Borrowing”

Introduction

By Unsecured and unsecured RMB loans issued by ICBC to borrowers who meet specific conditions for legal and compliant personal consumption purposes.

Features

Unsecured, unsecured, pure credit

Borrow and repay at any time

The fastest real-time payment of the loan

4. Shanghai Pudong Development Bank’s “Puyin Diiandai”

Introduction

Pudong Development Bank’s business of accepting applications online, signing contracts online, and issuing loans instantly through the Internet to qualified customers model.

Features

Guarantee-free, pure credit

Fast speed: real-time application, real-time approval, real-time lending, from application to loan receipt, the whole process is 3- Completed in 5 minutes.

The application procedure is simple: there is no need to go to and from bank branches or provide paper information. You can complete the application by filling in basic information online and answering yes or no questions.

No handling fees: Borrow and use at any time, no handling fees will be charged during the whole process.

2. Then we use a table to understand the basic characteristics of these four products

Lu Ge (luxiaodai360) analysis, we can see from the above picture:

The features of these four bank online loan products are roughly the same, especially the loan entry thresholds are relatively similar. They are basically open to customers who hold the bank's bank card or are handling related business in another bank.

But there is a clear focus in each dimension: from the perspective of loan amount, Rong e-loan has the highest amount, which can be as high as 800,000. For those with large capital needs, it can be the first choice. The other three products are all 30,000. Ten thousand yuan, it can be applied to customers with relatively large demand for funds; in terms of loan period, the longest loan period for Rong e-Dei and Puyin Diandai is 5 years, while Kuai e-dai is slightly inferior, with a maximum of 1 year. Flash loans have an “ultra-long” term of 120 months, which is a factor worth paying attention to for those who have long-term needs for funds; in terms of loan interest rates, overall, these four products The loan costs are not high. If you have short-term funding needs, these four products are cost-effective choices. Although the repayment methods are different, they all support early repayment and do not charge any fees. , which is also a powerful feature to attract customers.

3. Finally, let’s take a look at the application process for these products. If necessary, we will send it to you directly.

1. China Merchants Bank “Flash Loan” application process

Step 1: Download China Merchants Bank Mobile Banking

Step 2: Log in to Mobile Banking and click "Borrow Money" on the homepage

Step 3: Select the large loan "Flash Loan"

Step 4: Apply for a loan according to the prompts

2. Construction Bank "Quick e-Loan" application process

Step 1: Download China Construction Bank Mobile Banking

Step 2: Log in to Mobile Banking, click the "Quick Loan" icon → click "Apply Now ”

Step 3: Enter the application amount and the verification code received via SMS to confirm

3. ICBC “e-Lending” application process

First Step: Download ICBC Mobile Banking

Step Two: Log in to Mobile Banking, click "Favorites" - "Loans"

Step Three: Click "Credit Consumption Loans"

Step 4: Click “Apply for Loan”

4. Shanghai Pudong Development Bank’s “SPDB Diandai”

Step 2: Enter “Diandai” and receive Product entrance

Step 3: Enter the query password and other personal information, and answer three personal yes-or-no questions

Step 4: Sign the contract and submit it

Tips from Lu Ge (luxiaodai360):

Everyone has their own preferences for tortoise mung beans. Lu Ge has given you a brief introduction to the product features and application channels of the above four products. If you have a loan need, you can choose the best one. , if these four products cannot meet your needs, Luge (luxiaodai360) has as many good ones as you want.

How about Ctrip Financial Loans? Analysis from four aspects

Many people’s first impression of Ctrip is that it is a travel company. Most people have booked hotels, air tickets, etc. on it, but few people know that Ctrip Finance can actually borrow money. of. So, how about Ctrip Financial Loans? Here is an introduction from the platform background, loan interest rate, loan amount, loan process, etc.

How about Ctrip Financial Loans?

1. Platform background

Ctrip Finance is affiliated to Ctrip Group. Ctrip cooperates with major licensed financial institutions to provide users with borrowing services. Its products include credit loans, Flowers, large loans, etc., have certain strength. Borrowers can download the Ctrip APP to borrow money and do not need to pay any fees during the issuance process.

2. Borrowing interest rate

Ctrip Finance mainly offers two types of consumer credit loans: borrowing to spend and taking to spend. Both do not require mortgage guarantees and can be processed directly online. Any loan products of Ctrip Finance are priced differentially based on the assessment of the borrower's comprehensive credit conditions. Different borrowers' credit conditions have different interest rates, which are mainly displayed on the loan page.

3. Borrowing limit

The borrowing limit of Ctrip's financial loan products also implements differentiated credit, and different borrowers will receive different loan limits. Moreover, the loan limit is not fixed and will be adjusted from time to time as the borrower's qualifications change. If the borrower continues to borrow from Ctrip Finance, repays on time and develops good lending behavior, it will help to increase the loan limit.

4. Borrowing process

After the borrower downloads the Ctrip Financial APP, register an account with a real-name mobile phone number, fill in basic personal information as prompted, upload an ID card, and bind a bank card. The system will grant credit after a comprehensive assessment. After obtaining the credit limit, you can submit a loan application. Fill in the loan amount and period and submit it for system review. After passing the application, the system will transfer the money to the bound bank card.

The above is the relevant technology of "How is Ctrip Financial Loan", I hope it will be helpful to everyone.

That’s it for the introduction of loan product analysis.