On September 28, Jiangxi Yumin Bank was officially established. According to the data, the Nanchang Branch, the third largest shareholder of Yumin Bank, is a wholly-owned subsidiary of financial technology platform Lexin.
There were rumors on the Internet that a leader asked, "What do you think is the most important core asset of a financial company?" The following responded in unison: "Talent!" The leader said: "You must be self-aware, okay? Obviously. It’s a financial license!”
It can be seen that in the process of shrinking the regulatory front, various financial technology companies are working hard to get closer to licensed operations, even if they are positioned as technology companies.
Preliminary statistics of 11 financial technology platforms listed in the United States in the era of consumer finance, including Jiufu Digital, Lexin, Qudian, 360 Finance, Yirendai, Paipaidai, Xiaoying Technology, Xiaoying Technology, Micro Finance Network, Jiayin Jinke, Pinti, Xinerfu, thus giving a glimpse of the license layout path of financial technology companies. Please see the table below:
(Picture note: Among the financial licenses, the licenses for conducting currency consumption business mainly include banking, consumer finance, online small loans, financing guarantees, and financial leasing. The last five of the above 11 platforms Related licenses are not listed in the table because of the small space.)
From the perspective of establishment threshold and market price, among the licenses obtained by the above-mentioned financial technology companies, the most valuable ones are banking licenses, followed by banking licenses. It is a consumer finance license.
Small loan licenses and financing guarantee licenses have almost become standard features of the platform.
In general, the significance of a small loan license is to be licensed to lend money, and the significance of a financing guarantee license is to provide support for the loan assistance business.
In December 2017, the regulatory authorities issued the "Notice on Regulating and Rectifying the "Cash Loan" Business", which stated that banks are not allowed to accept credit enhancements from unsecured qualified companies. Since then, financing guarantee licenses have become popular. According to the financial report of 51 Credit Card, which is listed on the Hong Kong stock market, after obtaining the financing guarantee license, the platform began to resume cooperation with institutional financing partners.
Small Loan Network and Xiaoying Technology have non-financing guarantee companies respectively. Leasing licenses are mostly used to carry out automobile finance business, so Qudian’s Dabai installment business is carried out through Xiamen Qudian Financial Leasing Co., Ltd.
360 Finance, Jiufu Digital Branch, Yirendai and other financial management companies The business platform has plans for fund sales and insurance brokerage licenses.
Platform overview:
Jiushuke
As shown in the picture, Jiufu Digital Sub-branch has more financial licenses, but there is no public information showing that Jiufu Digital Sub-branch has online Small loan license.
According to the investigation, Jiufu Digital Branch indirectly holds 6% of the shares of Beijing Huaxian Small Loan Co., Ltd. and holds a small loan license. The business scope of Huaxian Small Loan is limited to Beijing, and it has a non-online small loan license.
Information shows that Cui Yilong, the legal person of Xianhua Small Loan, is the founder of the cash loan platform Xianhuahua. In 2017, Jiufu Digital Branch became a shareholder of Xianhuahua, thus indirectly holding a small share of Xianhua. Uxin Xiangyong (Tianjin) Financial Leasing Co., Ltd. is also a subsidiary of Xianhuahua, and Jiufu Digital Branch indirectly holds 15% of the shares.
According to the prospectus of Jiufu Digital Branch, we speculate that Jiufu’s shareholding ratio in Hubei Xiaojin may be 20%.
In addition to the form, Jiufu Digital Branch also has the license of a Hong Kong securities firm (Jiufu Securities Co., Ltd.).
Lexin
Lexin is the indirect third largest shareholder of Jiangxi Yumin Bank, holding 9.8% of the shares. Yumin Bank is positioned as a modern private commercial bank built on 5G networks. In comparison, this banking license gives Lexin more room to perform.
Le includes a number of commercial factoring companies. In addition to the list, there are Qianhai Yitong (Shenzhen) Commercial Factoring Co., Ltd. and Shenzhen Jusheng Commercial Factoring Co., Ltd.
Qudian
Relying on two online small loan licenses, lending with its own funds has always been an important advantage of Qudian.
Public information shows that in July 2019, Qudian’s loan balance was approximately 25 billion yuan, of which approximately 8 billion was its own capital loan.
30 Finance
30 Finance is incubated by the well-known Internet company 360 Group, so it has an inherent advantage in obtaining licenses.
In addition to the list, 360 Group also has two financial exchange licenses, namely Zhongguancun Non-performing Assets Trading Center Co., Ltd. and Internet Financial Assets (Xixian New Area)
Among them, Paipaidai It holds 32% of the shares of Huibang Small Loan through Hefei Paipaidai Information Technology Co., Ltd. Chengdu Hanhua Financial Leasing Co., Ltd. is a wholly-owned subsidiary of Paipaidai (Hong Kong) Co., Ltd., and Zhongyisheng Financing Guarantee Co., Ltd. is owned by It is held by Zhang Jun, Li, Gu and Hu Honghui, senior managers of Paipaidai.
Overview of non-listed platforms:
Win Technology
There is currently no public information. Xiaoying Technology has an online small loan license.
Win Technology has a financial leasing license through Yingying Financial Leasing (Tianjin) Co., Ltd., which is wholly owned by Hong Kong Yingying Co., Ltd. and Shenzhen Xiaoying Information Technology Co., Ltd. .
Hong Kong Yingzhongtong Co., Ltd. holds 100% equity of Kaolahui (Tianjin) Commercial Factoring Co., Ltd. and has a commercial factoring license.
Information shows that Yingzhongtong Non-financing Guarantee Co., Ltd., a subsidiary of Xiaoying Technology, was established in December 2016 with a registered capital of 100 million yuan and was approved in December 2017.
Small loan network
Fuzhou Weidai.com Small Loan Co., Ltd., wholly owned by Weidai.com, has an online small loan license.
Yao Hong, the founder of Small Loan Network, holds 90% of the shares of Zhejiang Ruituo Non-Financing Guarantee Co., Ltd. The other two shareholders of Zhejiang Ruituo also work in related companies of Small Loan Network. Judging from the relevant legal proceedings, the small loan network conducts car mortgage loan business through this company.
Jiayin Jinke
Yan Dinggui, the founder of Jiayin Jinke, is the major shareholder of China PayPal. China PayPal’s joint venture Anbaili Investment Co., Ltd. holds Chongqing Zhongwang Small Loan Co., Ltd. Company, Jiayin Jinke indirectly holds a small loan license
Women's Department of the Indonesian Chinese Federation
Titanium is owned by Shanghai Anquying Technology Co., Ltd., Ganzhou Jianmu Small Loan Co., Ltd. and Shenzhen Qianhai Minheng Commercial Factoring Co., Ltd. holds shares and has online small loan and commercial factoring licenses.
In addition, Anquying Technology also holds 5% of the shares of Fudeng Small Loan (Chongqing) Co., Ltd.
Titanium also passes through Beijing Hongdian Fund Sales Co., Ltd. and Maifen Insurance Brokers Limited holds fund sales and insurance.
Broker license.
Xinerfu
Xinerfu holds a small loan license through Haidong Xinerfu Small Loan Co., Ltd.
This article originates from Hujin Business Review Related Questions and Answers: What is the creditworthiness of Shanghai Jinshan Minxin Small Loan Co., Ltd. This company is a fraud group, please do not be fooled. Related Questions and Answers: Small Loan Company Money If he doesn't pay back, will he pursue the debt?
Brother Sheng can tell the subject responsibly that if you don’t repay the money you borrowed, no matter which platform you borrowed it from, it will definitely be collected, but the intensity will be different, and this The intensity of collection usually depends on the annual interest rate agreed upon by both parties at the time of borrowing.
Let’s first look at the two red lines drawn by the Supreme People’s Court for private lending: “The Provisions of the Supreme People’s Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases” clearly states: “The interest rate agreed upon by both parties If the annual interest rate does not exceed 24%, if the lender requests the borrower to pay interest according to the agreed interest rate, the people's court shall support it. If the interest rate agreed by the borrower and the borrower exceeds 36%, the borrower's request for the lender to return the excess interest is invalid. If the interest paid exceeds the annual interest rate of 36%, the people's court should support it."
Brother Sheng will give you a "translation": If the annual interest rate does not exceed 24% (that is, "two monthly interest"). "cent"), the borrower should repay the principal and interest normally; if the annual interest rate exceeds 36% (i.e. "monthly interest three cents"), the borrower may not repay the interest exceeding 36%.
Next, Brother Sheng will introduce to you the collection methods of various platforms.
In fact, lending platforms with annual interest rates below 36% are usually more formal, and their collection methods are usually not excessive, including overdue text message reminders, phone collections, overdue writing into personal credit records, and mail collections. Letters, judicial procedures, etc., these platforms usually rarely come to collect collections. If the borrower does not mind being bombarded with text messages and phone calls, or even does not care about personal credit investigation and being sued, these platforms usually have nothing to do, but Brother Sheng is I would like to remind everyone to pay back the money as much as possible. After all, once there is a problem with your personal credit, the consequences can sometimes be serious.
For lending platforms with annual interest rates exceeding 36%, their loans are so-called "loan sharks", and their collection methods will naturally be more abundant. These lending platforms usually do not collect on their own, but package and sell non-performing assets to professional collection companies. Therefore, in addition to the conventional collection methods mentioned above, they will also include door-to-door collection, informing relatives and friends, and even threats and attacks. Although the state explicitly prohibits violent collection methods, some companies are still willing to test the law driven by interests.
To sum up, if you borrow a loan with an annual interest rate of less than 36%, you can repay it as much as you can; if you borrow a loan with an annual interest rate of more than 36%, the interest exceeding 36% does not need to be repaid; if If you unfortunately encounter violent debt collection, you don’t have to hesitate and can directly resort to law to resolve it.