In fact, it is a well-known borrowing product of Ant Financial Services. Among them, Huayuan mainly makes loans based on online and offline consumption scenarios. By using it, it is a scenario-free credit loan that can be used directly by Alipay.
According to the data, in the first three quarters of 2017, the borrowing business brought net profit of approximately 4.5 billion yuan to Ant Financial, which was a 1.9-fold increase over the same period of last year. It exceeded the profit levels of listed banks such as banks in Hangzhou and Guiyang, and the income was also high. Increased by 109% to reach 6.947 billion yuan.
However, due to the supervision of the red line, the lending business has recently been tightened.
The person in charge of Ant Financial Services said that Ant Financial has been actively exploring cooperation with financial institutions such as banks, and has strictly conducted risk assessments. In strict accordance with the requirements of the new regulations, financial institutions have been independently controlled.
The person in charge emphasized that Ant Financial will also perform risk assessments, but the approval amount will be based on the agency's final review result, and Ant Financial will not cover the bottom of its pocket.
It is understood that among the many consumer finance entities, banks are currently the mainstay of consumer financial services. By the end of 2017, the size of China's consumer finance market (excluding loans) was about 8 trillion yuan, among which the short-term consumer loan balance of depository institutions was 6.7. Trillion yuan, accounting for more than 80%.