In order to avoid legal risks of violation of regulations, some online loans have adopted so-called service fees, insurance premiums, etc. to avoid legal risks. As we all know, our country's laws and regulations have red lines for lending interest rates, and this red line stipulates that the lending interest rate cannot exceed 36. This is illegal behavior because it is a disguised form of routine behavior to increase lending rates.

Jirong’s business involves

Jirong, the leader of big data risk control training engines, was officially launched on October 20, 2016 and is a subsidiary of Shanghai Jiayin Financial Technology Co., Ltd. brand.

The business mainly involves three aspects. Help banks build independent, controllable, and adaptable big data risk control systems to realize the introduction, realization, and ecological closed loop of Internet credit flow. Use financial technology to lead innovation and provide services to help domestic and overseas small loan companies in Southeast Asia develop. Provide technology output and big data risk control system for domestic consumer finance companies.

Jirong’s financial technology team members are composed of financial and technology experts from Huawei, Ant Financial, and Morgan Stanley, including the general manager of Huawei’s financial solutions, the co-founder of Ant Financial Cloud, Morgan Stanley's global core financial risk control system technology VP and Paypal real-time big data risk control system architect, etc.

The team focuses on providing financial institutions with extremely efficient and convenient smart financial solutions and full-scenario services through cutting-edge technologies such as big data, artificial intelligence and cloud computing, helping financial institutions deliver the ultimate user experience.