1, policy aspect
As we all know, during the Asian financial crisis, China formally proposed to develop consumer finance. The People's Bank of China issued individual housing loan and automobile consumption loan policies in 1998 and 1999 respectively, to promote financial institutions led by commercial banks to carry out consumer finance business. This is also the important significance of developing consumer finance for expanding domestic demand, promoting consumption and promoting the rational development of economic development structure. At the same time, during the two sessions this year, the government work report also proposed "piloting consumer finance companies nationwide and encouraging financial institutions to innovate consumer credit products", and consumer finance became a hot word. It is understood that from 2065438 to March 2006, the People's Bank of China and the China Banking Regulatory Commission jointly issued the Guiding Opinions on Increasing Financial Support for New Consumption Areas, and favorable policies have become an important force to promote the development of the industry.
2. Technical advantages
The difference between Internet consumer finance and traditional consumer finance is that Internet consumer finance makes use of the advantages of Internet technology to create an operating model of "online Internet plus offline entities". Institutions engaged in Internet consumer finance have certain advantages in the source of funds. They will create a brand-new "internet plus" sample by exploring the layout of credit consumption+scenarios, enhance customer stickiness through the establishment of scenarios, continuously expand the consumer finance market, and achieve profitability. With the popularity of cloud computing, the cost of big data mining is greatly reduced. Using big data technology can accurately segment the market, select target customers and evaluate customers' credit rating, thus reducing the risk of capital allocation and improving the risk management ability.
3. Market demand
With the gradual improvement of living standards of China residents, consumer demand is also more vigorous. After 8090, the awareness of advanced consumption gradually increased, and the ability to accept new financial products was stronger. Therefore, the concept of using consumer credit to alleviate the budget shortage is gradually deepening. Therefore, under the background of the increasingly mature consumption concept of residents, the development of consumer finance has already had the corresponding social foundation. As one of the ways to solve the capital problem, the consumer finance system will inevitably usher in business opportunities. For example, Dimon's self-developed consumer finance system is a business management system integrating consumer loans and consumption stages, which can effectively help enterprises to quickly explore the consumer market, promote the development of consumer finance business and realize the "internet plus" transformation of business model. Through the rule engine, workflow engine, automatic credit reporting and merchant joining, the system has realized the functions of rapid loan business approval, intelligent risk control and loan process customization, and met the fast, efficient and convenient loan business needs of consumer finance companies.