It is peer-to-peer, that is, a person-to-person lending platform.

In 20 13-20 14, more than 3,000 P2P platforms emerged. At that time, the market was flooded with various P2P financial products. After 20 15, with the outbreak of internet financial fraud cases such as e-rental treasure and dada group, supervision has become stricter. So by 20 16, more than 1700 companies have closed down or withdrawn, or entered liquidation procedures. By 20 17, the closed P2P platform has reached more than 50% to 60%, and more than half of it has closed down.

Second, the underlying logic of P2P.

Why are P2P platform accidents frequent? Not because of supervision, but because the financial logic behind it is wrong.

The regulatory authorities' definition of P2P platform is actually very accurate. For example, the CBRC believes that P2P is a "peer-to-peer lending platform, that is, a financial information intermediary, which cannot directly or indirectly absorb deposit funds or illegally raise funds". In other words, you are not allowed to pool funds.

This is in conflict with the loan business to be done by P2P platform. Because P2P is a person-to-person loan business. What is the core of the loan? Is to understand the borrower's qualifications, including repayment ability and willingness.

So can this business be done online, by the borrower filling out the form or analyzing the data left by the borrower online? It seems very, very difficult at present. Why? There are three reasons.

First, the Internet has no way to automatically identify the authenticity of information. For example, if a borrower fills out a form, which borrower will take the initiative to say that he is dishonest? Except for a few super internet companies, these bits and pieces of information left on the internet simply can't meet the requirements of credit reporting. Internet can transmit true information or false information. These two kinds of information are exactly the same for the Internet. Therefore, the identification of the borrower's qualification is not to say that it can be done automatically with the Internet.

Second, as an information intermediary, you can only charge an information intermediary fee, which is very low. You can't earn the difference between deposit and loan by absorbing deposits. So this little income can hardly cover the cost of loan business.

Let me give you an example. Many people like to use Lending Club, the originator of P2P platform, as a benchmark. Lending Club has really always adhered to the information intermediary route. Do not open the fund pool, do not contact the fund, and charge a little service fee from both parties as a profit point. In fact, this high-profile company has very low profits. In just 20 16 years, it lost $654.38+46 million. Then, after the vigorous listing at that time, the stock price has fallen by 80% so far. At the beginning of listing, its market value was $5 billion. As of this year, its market value is only1700 million US dollars. Therefore, under the current circumstances, it is difficult for an information intermediary to support the cost of loan business.

Third, small and micro loans made by P2P are high-risk and high-cost businesses that traditional banks are unwilling to do. Nowadays, many P2P platforms have no Internet technology and no financial expertise at all. Then, without data, risk management and effective customer acquisition channels, how can there be no problems?

Third, the principle of choosing P2P

How to judge whether P2P platform is reliable?

Grasp a principle: If a P2P platform wants to succeed, it must have a lot of high-quality data, effective risk identification technology and powerful algorithms. In other words, the P2P platform you invest in needs to have very high barriers in the two technologies of Internet and financial risk control. If these two conditions are not met, it is difficult for me to give this platform a very positive evaluation.

I hope you understand that financial innovation is not so easy to succeed. First, strong financial logic is needed behind it; Second, we need to meet the conditions in reality. If these two rules fail, financial innovation may be just a gimmick or a mirage.

Fourthly, P2P has found another way-3354 cash loan.

As I said just now, as an information intermediary, P2P platform can only charge agency fees, but the agency fees are difficult to make a profit. By 20 16, P2P has gone out of business, and many other platforms are struggling to close down.

Therefore, many domestic platforms have found a new way, that is, they can make cash loans.

You will see that from the end of 20 16, many P2P platforms are desperately seeking to enter the cash loan market. According to the data we can get now, at least 30 large P2P platforms are doing this cash loan business.

How do they make cash loans?

In fact, the cash loan asset securitization of online lending platform is not done by the platform itself, because asset securitization has a threshold. The online lending platform itself is not qualified and needs to be completed by other intermediaries (such as trust, asset management, brokerage and other professional financial intermediaries).

Cash loan securitization needs to be audited by law firms and accounting firms before it can be recognized by banks, trusts, funds and other investment institutions. Cash loan securitization in the form of private placement will not be listed in the open market. Professional financial intermediaries will communicate and promote with institutional investors to complete the selling process. Cash loan securitization products in the form of public offering must be audited by the bond market regulatory agencies and publicly listed. Banks, trusts and trust funds can directly participate in the subscription in the open market.

It's still dangerous for a 5-year-old child. P2P makes cash loans.

But it is still very dangerous for P2P to do cash loan business. Why do you say that?

1. It's actually a usury business.

First of all, you can see that its operation is very simple and attractive to young people. Download an App, fill in some information, name, ID card, photo, mobile phone number, or give an Alipay or WeChat account to get a cash loan. The audit is simple, the funds arrive in seconds and the repayment is convenient. Besides, it doesn't sound like the interest is high. These platforms often tell you that it is enough to borrow 5000 yuan and pay back a few dollars a day.

For example, if you borrow 5,000 yuan for three months, you only need to pay 10 yuan interest every day for these three months. Many young people listen, one day 10 yuan. It was a good deal, so they borrowed it happily and might want to borrow more. But if you use your head a little, you can calculate an account. Three months is 90 days, every day 10 yuan. And then these three

You paid back 900 yuan's interest last month, and you have to pay back 5900 yuan after three months. In other words, you have paid 18% interest in these three months. Then the annualized interest rate of 72% will surprise young people who feel cheap. 72% interest rate, isn't this usury? That's right. Many cash lending platforms are doing usury business, and the target customers are young people with low income, strong desire for consumption and strong blood. It is this small amount and short-term packaging that they use, which makes young people feel particularly cost-effective. It seems that they can easily get a sum of money, buy an Apple mobile phone, call a the glory of the king, buy cosmetics and even go for plastic surgery. And because the operation is so simple, many people will borrow money on multiple platforms.

2. Potential risks: take the lead and move the whole body.

I carefully studied several China cash lending platforms listed in the United States, and found that their active users borrowed six times every six months on average, and more than 30% of their customers borrowed from more than three platforms. What does this mean? First, these customers are regular customers, not the occasional emergency liquidity demand mentioned by the platform. Second, borrowing money from multiple platforms has a high probability of being "squatted". What is Luke? Is to borrow new debts to pay off old debts. Such customers have poor repayment ability and a high probability of default. They keep pressing buttons, which is equivalent to adding levers layer by layer. This kind of loan market risk is very easy to accumulate. As long as one platform has problems, many platforms will cause the collapse of the entire cash loan market.

6. The cash loan company went bankrupt.

Where are the investors?

Many people are worried that the company will go bankrupt, so what should investors do?

The bankruptcy of the cash loan company does not necessarily mean that the borrower does not have to pay back the money, but it is doubtful whether the money can be paid back.

For example, on 20 17, 1 1, a cash lending platform "Ling Bo Microfinance" closed down, but the company's collection of borrowers did not stop. On the one hand, the fund provider has a debt contract and can still ask the borrower to pay back the money. On the other hand, the bad debts left on the platform may also be resold to other companies, and other companies may restart the collection plan after receiving it. However, the results of these collections are uncertain and should not be too optimistic.

Seven. The Future of Internet Finance

At present, the credit information work of the Internet financial platform has begun.

In June, 5438+this year 10, the central bank announced that it would accept the application for personal credit information business of Baixing Credit Information Co., Ltd. (to be established). This is the "letter link" of the Internet financial platform. In the future, Internet financial credit information will be gradually enjoyed, and will also be included in the central bank's credit information center and linked with the bank's credit information system.

The construction of credit system is a slow process with a long way to go. A journey of a thousand miles begins with a single step, and it is very important to take the first step.

Related Questions and Answers: Related Questions and Answers: Last month, I was cheated of 57,000 yuan from my 4,000 yuan plus online loans, and I want to die. Now I'm almost depressed. I want to pay it back now, but I can't afford it. What should I do? I've stepped in this pit before to give you a science lesson. This is a case of a new scam.

The first step is to cast a net.

He will add you through various part-time groups on the platform, such as brushing group and qq part-time group. I call this model "casting a net" for them. Some treasure moms or fraternities who want to take part-time jobs click in to join the group chat, including those in the headlines. I have personal experience, and I will talk about it later.

The second step is to "screen the fish"

But after adding WeChat, he will drag you to another group, and then an administrator in the group will chat with you privately and ask you to fill in your personal information. This step is no problem, he will start to release bait to attract you according to your information.

The third step is to "eat bait"

Then he will let you do the task. Generally, he will send you a link, including Taobao and JD.COM.

I'll give you a payment code, which is usually a small thing of ten or twenty dollars, but I won't let you buy it in JD.COM. He will give you a payment code for you to pay. After your payment is successful, I will give you a website and another person's WeChat.

I will call the first person's WeChat "Guide". The second person's WeChat is called "psychological tutor".

The fourth step is called "raising pigs"

Then you can make money. 35 yuan at first, then 56 yuan, and finally 78 yuan. This is the first day.

The next day, he will let you click on a link to download a software called "Enterprise Secret Letter" and other similar software. I read the introduction of this software, and it has a "burn after reading" function, which will erase all the chat records between you and the "psychological counselor".

After registering, add your friends. After adding friends, the next step is to give you a website, generally called "Caicaile", so that you can register an account on this website. The "mentor" will say that the commission has been transferred to it. You checked it, but you can't return it yet. You have to do three tasks to withdraw, which will make your vigilance a little lower.

Then the same task as yesterday, more than ten, more than twenty, more than thirty. After completing three tasks, you will withdraw cash and earn thirty or forty dollars, and your vigilance will be put down.

Then the fourth task will rise to about 50, which will tell you that you can only withdraw cash if you complete three or four tasks. Because you really earned 30 to 40 cash, you tasted the sweetness and will definitely do it, but you don't know that you ate his bait.

The fifth step is "trapped"

Then the "psychological tutor" will continue to send you tasks. The fifth task is about 80 yuan, and the commission is about 50 yuan. The sixth task is about 500 yuan, and the commission is about 3,000 yuan. The seventh task is about 3,000 yuan, and the commission is about 2,000 yuan.

With your mental state at that time, you can still accept the sixth task, and you will be more cautious when doing the seventh task. When you hesitate, the "psychological tutor" will send you all kinds of cash withdrawal diagrams to reassure you that you can earn two or three thousand yuan by doing this task. Just do it if you are a little greedy.

Step 6, "System crashes, add money to solve the problem!"

When you are caught between three and four thousand, their system will crash instantly, because the system has crashed and the task has not been completed, and then they will say, "Honey, you haven't finished this task yet, and the background can't display it." You can extract it by making a single order! "

The eighth task will rise to 6 thousand yuan. Are you going to do it or not? If you do, you will get 6000 yuan and 10000 yuan. I hope you can take it out. If you don't do it, your 4000 yuan will be gone in an instant.

The seventh step, "We are a regular company, and the income tax is refunded!"

When you invest 10 thousand yuan, your "psychological tutor" will say that what you just did was a serial task. To do one, you must complete the ninth task, otherwise you still can't extract it.

You are a little anxious at this time, but in the end you will weigh it and continue to do it. The ninth task is 1 10,000 yuan. Do you do it or not?

By the time you finished the ninth task, you had invested 20 thousand yuan. Do you want it back? Don't worry, he will say again, there are still 10 thousand personal income taxes to pay, will you pay them?

Generally, at this level, polarization will occur. One person calls the police directly, and the other person continues to register.

Concluding remarks

This is a case where my wife was cheated before. Because I am in charge of money at home, she usually has thousands of dollars in her pocket for her family. Fortunately, he asked me for money. From small to large, query the so-called "single group" on various platforms, and then call the police directly. This did not cause much loss.

The subject has been cheated, learn from the bitter experience, save your evidence and try to find him.

Or you can try to cooperate with the public security department to "fish" them out, so I won't say much about it.

If you think it is helpful, praise it a lot to avoid letting more people fall into this pit.