The Fintech in China Show

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In this episode of The Fintech in China Show, we talk with our co-host Xiaochen Zhang on blockchain in China. Xiaochen Zhang is the founder of the FinTech4Good and Blockchain Frontier Group and the chairman of Global Digital Economy Council.

Xiaochen aims to introduce cutting edge fintech and blockchain solutions to emerging markets through incubation, acceleration and investment.

Xiaochen also serves on the Crowdfunding Professional Association Board of Directors, UN ESCAP Digital Economy Task Force and as a senior advisor of the China Social Entrepreneurs Foundation and Inter-America Development Bank. He is also the co-chair of a few blockchain labs around the world.

In this episode of The Fintech in China Show podcast, Xiaochen talks with us about:

The three main types of non-Bitcoin blockchain projects in China.
The scope for future policy innovation around blockchain in China.
What people outside of China can contribute to the China blockchain space.

We hope you enjoy this Q & A with Xiaochen Zhang.

Selected links from the episode

Follow Xiaochen Twitter | Linkedin

Fintech4Good is a global Fintech and blockchain network, that works with start-ups, industrial leaders, NPOs, and investors to develop, invest and implement solutions for a better world. FinTech4Good Venture University is the education, venture building and solution acceleration arm of FinTech4Good.

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In this episode of The Fintech in China Show podcast, we are really pleased to bring you a conversation with Joseph Wang, Chief Strategy Officer of China Rapid Finance.

China Rapid Finance is one of the largest consumer lending marketplaces in China, and the second such company from China to IPO on the New York Stock Exchange, where it has been trading under the ticker XRF since April 2017.

In this episode, Joseph shares with us his insights into the unique background of China Rapid Finance, led by its founder Dr. Zane Wang in credit analytics and risk management both in the United States and in China since 2001.

Joseph shares with us the history of the company, including its move into marketplace lending from 2010 and the details of CRF’s lending and investment matching model. Joseph also shares his unique insights into the licensing requirements for online lending in China. See the show notes below for more.

We hope you enjoy this Q & A with Joseph Wang.

China Rapid Finance (XRF) is one of the largest consumer lending marketplace in China. As of June 30, 2017, CRF had facilitated approximately 20 million loans to nearly 2.7 million borrowers. The company's technology-driven marketplace facilitates loans between borrowers, sophisticated and institutional investors, providing borrowers accessible, affordable credit and offering investors attractive risk-adjusted returns.

Selected links from the Episode

China Rapid Finance on Twitter

Detailed show notes

With thanks to Xuan Shi.
Joseph Wang s shares his background in strategy consulting for banks and tech companies in the United States before coming to be work in fintech strategy in China. (2:30)
Joseph's previous role leading strategy at PingAn Insurance's fintech incubator. (3.30)
The three ways corporates' participate in online lending in China. (4.30)
China Rapid Finance s (CRF) marketplace lending background. (5.30)
CRF founder Dr. Zane Wang s background in statistics and then consumer credit & analytics at Sear s in the United States. (6.00)
Why CRF founder Zane Wang started China Rapid Finance as a credit analytics consulting business in China in 2001. (6.30)
CRFs first decade in business helping to build and install credit decision engines to offer consumer finance at major banks in China which facilitated 100 million credit cards issued across CRFs bank clients. (7.00)
CRF starts its peer-to-peer / marketplace lending business in China in 2010. (7.45)
CRFs opportunity to partner with Tencent at the end of 2014 to test pilot an online consumption loan on Tencent's QQ mobile platform. (8.30)
CRF s first major push in 2015 to offer online consumption loans through mobile devices. (9.10)
CRF s online consumption loans for micro-credit come to constitute 90 percent of new loans matched via their platform by 2017. (9.30)
The pros and cons of CRF operating as a platform independent of the BATs (Badiu, Alibaba, Tencent) and their affiliates. (10.30)
The two types of loans matched by CRF: consumption loans and lifestyle loans. (10:57)
How CRF s online mobile consumption loans work. (11.30)
CRF s lifestyle loan category, larger-value and short-to-longer term loans based on more extensive and in-person data verification. (12.45)
The two proprietary technologies developed by CRF which underpin its consumption loans: predictive selection and automated decision-making technologies. (13.45).
How CRF uses predicative selection screening of channel partner customer data to pre-approve credit offers for consumption loans. (14.30)
The personal verification data required from pre-approved customers for consumption loans: their full name, national ID, bank account, and mobile phone number. (14.45)
How CRF works with data and channel partners to conduct data mining to find customers for consumption loan pre-approval. (16.30)
How CRF uses non-structured and non-traditional data to arrive at initial credit assessments based on behavioural data. (17.30)
The role of offline credit decision processes in CRFs lifestyle loans via CRFs brick and mortar and walk-in offices. (20.00)
The most common consumption loan purposes: borrowers taking their girlfriend or boyfriend out for dinner, cellphone bills, game-card charging, small gifts. (23.00)
The most common lifestyle loan purposes: lifestyle events like moving into a new apartment, apartment renovations, weddings. (23.45)
How the traditional money-saving mindset is changing among young people in China. (24:30)
CRFs target customers: Emerging Middle Class Mobile Active (EMMA). (25.30)
China s central credit bureau data: 300 million people with credit data, 500 million plus with IDs but no detailed credit information. (26.30)
The interest rates on CRFs consumption loans. (28.00)
CRFs fees for taking cash out via a consumption loans. (28.45)
How investors on CRFs marketplace lending platform in China provide capital for loans and how investors also bear the loan credit risk. (29:00)
Why and how CRF manages credit risk on its platform. (29.45)
The scale of CRFs customer base. (31.00)
The average number of times CRFs borrowers take out loans via the platform. (31.45)
How repeat borrowing based on loan performance enhances credit quality. (32.00)
CRFs early repayment interest and fee structure. (33.00)
CRF recent shift from a retail only investor model to a retail and institutional investor model. (33:40)
How CRFs investors have tended to be high net worth and sophisticated investors with relatively high lending amounts invested in loans via the platform. (34.00)
CRFs fractionalised and automated lending model. (34.45)
CRFs pricing structure. (36.00)
The annualized realised return for investors on CRFs platform. (36.10)
The loss rate on loans on CRF’s platform. (36.15)
The technical and regulatory factors which lead to mismatches between the deployment of investors funds and loan-matching. (37.00)
What sort of data and channel partnerships CRF has with existing institutions. (38:30)
The regulatory situation, guidelines and specific requirements for peer-to-peer and marketplace lending platforms in China. (42:00)
The role of local authority inspections of online lending company operations. (45.00)
The regulatory compliance costs for online lending platforms in China. (47.00)
The PRC Supreme Court s rulings on interest rate requirements for online lending platforms in China and its impact on platform income. (47.30)
The licensing requirements for P2P lending companies and the online micro-credit lending license issued by the China Banking Regulatory Commission (CBRC). (48:55)
The relatively high registered capital and low leverage ratio requirements of the online micro-credit lending license under the CBRC. (49.55)
The reasons why CRF chose to become a publicly traded company and raise capital via an Initial Public Offering (IPO) on the New York Stock Exchange (NYSE). (53:00)
The future for CRF in China and in the United States fintech space. (55.45)
Thank you to Joseph Wang of China Rapid Finance. (56.30)

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Neil Woodfine is the Growth Manager for Wyre in Asia and the Organiser of Beijing’s Bitcoin Meetup. He is Long Bitcoin.

In this follow up episode of The Fintech in China Show with Neil Woodfine on Bitcoin in China, Neil talks with us about the tumultuous events within the Bitcoin network up to early August 2017.

This episode was recorded before the People’s Bank of China's decision on September 2, 2017 to halt unregulated Initial Coin Offerings (ICOs) in China.

Nevertheless, the questions we discuss the recent attempt to fork Bitcoin and the creation of Bitcash, the extent to which power over the Bitcoin network protocol had become concentrated among Bitcoin miners in China, and the resilience of the Bitcoin network will remain crucial to Bitcoin’s future beyond the recent regulatory moves in China against illegal fundraising via ICOs, and beyond temporary halts to trading by any Bitcoin exchanges in China.

In this follow up episode on Bitcoin in China, Neil talks with us about:

The recent attempt to split Bitcoin and the creation of the altcoin, Bitcash.
Why ‘scalability’ is a big issue for Bitcoin.
The degree to which control over the Bitcoin protocol is decentralised.
Whether ICOs are primarily scams.
How these dynamics have played out inside and outside China.
Bitcoin s development potential in China and elsewhere.

We hope you enjoy this Q & A with Neil Woodfine. You can catch our earlier discussion with Neil here on Bitcoin in China: Part 1.

Wyre is a cross-border payment platform for businesses making payments around the world. Wyre use blockchain technology to beat the banks and fintech competitors who are stuck using ageing traditional payment networks. Payments via Wyre are completed within six hours and fees are completely transparent. Key markets include China, Korea, Brazil and Mexico.

Selected links from the Episode

Connect with Neil Woodfine Neil’s blog | Twitter

For updates on Bitcoin, Crypto-Currency and Blockchain in China, follow @CNledger

Bitcoin Cash: What You Need to Know by Jimmy Song

Why China Is Cracking Down on Cryptocurrencies and ICOs by Martin Chorzempa (September 15, 2017).

Detailed show notes*

With thanks to Xuan Shi*.

Introduction to Neil Woodfine and Wyre. (2.00)
What was behind the recent attempt to split Bitcoin? (4:20)
The failed attempt to take control of the bitcoin protocol. (5:22)
How the Segwit upgrade to the bitcoin blockchain increases the blocksize and allows more transactions. (7:30)
How the bitcoin blockchain uses consensus to verify transactions. (9:45)
What the attempt to split Bitcoin tells us about the view that too much power had become concentrated in the hands of bitcoin miners in China. (11.20)
The underlying resilience of the Bitcoin protocol’s decentralised network model. (15:00)
The surge in demand for Bitcoin after the creation of Bitcash. (16.00)
How many over-hyped blockchain projects have yet to show results. (17:00)
Whether the Initial Coin Offering (ICO) model is a viable model for disrupting VC’s and equity markets or primarily a vehicle for fraudulent fundraising. (19:20)
The problems with attempting to tie real world assets to the digital world via blockchain technology: the need for third-party verification. (24:00)
Whether Bitcoin can be used to raise funds in a rational way. (28:15)
Why scalability is a big issue for Bitcoin. (31:19)
The security of Bitcoin transactions. (33:25)
Bitcoin as a store of value. (35.00)
How Bitcoin's incentive structure differs from traditional banking models. (38:00)
Bitcash's following in China. (42.00)
Bitcoin and blockchain development potential in China. (43:18)

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Barry Freeman is a co-founder of PINTEC Group. Barry has lived and worked in China since 2009. Barry has worked extensively in China’s credit markets, investment fund distribution, financial technology and in partnering with existing business and financial institutions.

Prior to co-founding PINTEC in 2012, Barry was CFO and Executive Director of Credit Heng, the largest privately funded lending platform for small and medium-sized enterprises in China’s Yunnan Province.

In this episode, Barry talks to us about:

How PINTECs technology platform is enabling online businesses and institutions to offer innovative financial services at scale in China.
How PINTECs digital lending technology provider Dumiao works with online partnership businesses to offer credit to their existing consumers.
How PINTECs investment management technology business Xuanji provides robo-advisory and wealth management services for customers at multiple banks and financial institutions.
PINTECs online mutual fund distribution business, Hongdian Fund.
PINTECs first successful RMB 240 million ABS issuance via the Shanghai Stock Exchange.
The developing regulatory environment around fintech in China.

We hope you enjoy this Q & A with Barry Freeman.

PINTEC Group is a leading end-to-end fintech solution provider to businesses and financial institutions in China. PINTEC was founded in 2012. The name PINTEC derives from chip pin and technology, meaning the company is connecting finance with digital technologies. With its “Powered by PINTEC” strategy, the company provides innovative digital financial services solutions to institutions and their customers. PINTEC’s wholly owned subsidiaries include Dumiao, a digital lending technology platform; Xuanji, a digital wealth-management and robo-advisory; Hongdian Fund, online mutual fund distribution; and Muffin Insure, an online insurance brokerage.

Connect with Barry Freeman LinkedIn | Twitter

Detailed show notes

With thanks to Xuan Shi.
Introducing Barry Freeman. (00:51)
How Barry came to fintech in China. (1:37)
Barry's early experience in running a micro-credit business in Yunnan Province, China. (2.30)
The emergence of internet finance in China from 2012 and the founding of PINTEC. (3.30)
How China became a global leader in fintech market development. (4:45)
The driving forces behind the growth of internet finance and fintech in China. (5:10)
How China s low friction payments infrastructure has driven the fintech revolution in China. (6:25)
How China s regulatory trend has favoured the growth of fintech. (7:23)
Why PINTEC calls themselves an enabler for online businesses and institutions by allowing them to offer innovative online financial services to their customers. (9:18)
Dumiao, PINTECs digital lending technology business. (10.35)
Xuanji, PINTECs robo-advisory and wealth management business. (10.40)
Hongdian Fund, PINTECs online mutual fund distribution business. (10.50)
Muffin Insure, PINTECs online insurance brokerage business. (10.55)
How PINTECs digital lending technology provider Dumiao, integrates big data and machine learning to gather credit data and make real time automated credit decisions for online customers. (11:42)
How PINTECs investment management technology business Xuanji, provides robo-advisory and wealth management services for customers at multiple mid-tier banks and financial institutions. (13.15)
How Dumiao now works with more than 40 partnership businesses to offer credit utilising their existing consumer databases. (14:25)
How PINTEC leverages internal data, partner data and third party credit and user data. (15:50)
How PINTEC s credit system works in China s online travel industry. (18:22)
Where the funding for the Dumiao s partnership lending businesses comes from. (20:00)
Hongdian Fund s online mutual fund distribution licensing and fund product business. (22.30)
How the underlying technology has allowed Dumiao to scale its lending business at low cost. (24.00)
How the technology and cost structure enables PINTEC to offer a very small loan sizes at scale. (25:23)
How PINTECs automated credit verification system enables the point-of-sale possibility for online and offline customers across businesses across the country. (27:02)
PINTEC’s first successful RMB 240 million ABS issuance via the Shanghai Stock Exchange. (29:09)
How PINTEC tracks the underlying assets of loan portfolios. (31:18)
How PINTECs Xuanji provides customised digital investment management portfolio solutions for customers at financial institutions. (32:26)
The need to acquire separate licenses for each financial transactional business. (36:04)
The online mutual fund market and industry performance in China. (37:30)
The developing regulatory environment around fintech in China. (42:00)
The role of increased financial services access for developing a more consumption-driven economy in China. (44.00)
The significance of the People s Bank of China s recently established fintech committee. (45:00)
The cross-border opportunities in new emerging markets, particularly in South East Asia. (46:45)
How to get in touch with Barry Freeman. (51:45)

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Neil Woodfine is the Growth Manager for Wyre in Asia and the Organiser of Beijing’s Bitcoin Meetup. He is Long Bitcoin.

We caught up with Neil right after the Bitcoin-based cross-border payments startup he helped found, Remitsy, was acquired by Wyre.

In part one of our conversation on Bitcoin in China, Neil talks to us about:

How Wyre uses Bitcoin to make RMB payments into China.
The key users of Bitcoin in China: exchanges, miners and investors.
The attractiveness of Bitcoin as a speculative asset in China.
The policy environment for Bitcoin development in China.
How Bitcoin is used more like a currency hedge within China, rather than a means to evade China’s strict capital controls.

We hope you enjoy the first part of this Q & A with Neil Woodfine. You can listen here, to part 2 of this conversation with Neil Woodfine on Bitcoin in China (Part 2): the Bitcash split and the trouble with ICOs.

Selected links from the episode

Connect with Neil Woodfine Neil’s blog | Twitter

For news updates on Bitcoin, Blockchain and Crypto-Currency in China, follow @CNLedger

How Chinese is Bitcoin? Part 1: Trade Volume/ In bitcoin, not all is as it first appears by Neil Woodfine.

Is Bitcoin Used For Bypassing Capital Controls in China, Part 1 by Bobby Lee.

Detailed show notes

With thanks to Xuan Shi.
Introducing Neil Woodfine. (00:51)
How Wyre (formerly Remitsy) uses Bitcoin to make RMB payments into China. (2:10)
How Neil came to China, Bitcoin and fintech. (8:13)
The first Bitcoin price bubble in 2013. (9.30)
Why Neil helped to start a cross-border payments company using Bitcoin. (11.00)
What China’s Bitcoin industry looks like. (11.47)
The key role of Bitcoin exchanges in China (OkCoin, BTCC, Huobi), hardware manufacturers and mining farms. (12:05)
How China has become a leading centre of the global bitcoin industry activity. (12:29)
How Chinese is Bitcoin and who are the users of Bitcoin in China? (13.50)
The development of China’s Bitcoin exchanges and their services. (15:26)
The emergence of Bitcoin futures markets on Chinese Bitcoin exchanges. (15:48)
China’s central bank’s recent inspections and guidance for Bitcoin exchanges’ operations and trading activities. (17.00)
The closure of margin trading on Bitcoin exchanges. (17.30)
Why there is no merchant acceptance of Bitcoin payments in China. (18.35)
How the policy environment for Bitcoin in China has remained open. (18:44)
China s PBOC governor Zhou Xiaochuan's comments about Bitcoin as a tradable and collectable asset, not a currency. (20:15)
The benefits of recent policy interventions on Bitcoin exchanges’ operations. (21:55)
Why Bitcoin in China is more like a currency hedge inside China, than a means to evade China’s strict capital controls. (22:30)
How to get in touch with Neil. (24.00)

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There are few people better placed to share with us their insights into the rapid growth and evolution of fintech in China than Tharon Smith.

Tharon is a founder of Strontium Capital, a VC advisory company focused on Emerging Markets Venture Capital, and Tharon has been a research fellow at Fudan University in Shanghai since 2007.

From 2013 to 2016 Tharon was the was the organiser and founding director of the largest U.S.-China Fintech Conference (Lendit China, now Langdi Fintech) and Executive Exchange program, and in that role Tharon has worked with more than 2,500 market place lending platforms, in China and worldwide.

In this episode, Tharon talks to us about:

China's emergence as a global leader in fintech innovation since 2013.
How the biggest challenge for peer-to-peer lending in China was a lack of borrowers.
The shift to raise the level credit screening on peer-to-peer lending platforms.
The differences in fintech innovation at big institutions and startups in China.
Where are the new fintech centres in emerging markets outside of China?

We hope you enjoy this Q & A with Tharon.

Email: Tharon(at)strontiumcapital.com | Linked-In

Detailed show notes

With thanks to Xuan Shi.
Introducing Tharon Smith. (1:03)
How Tharon came to live and work in China, and her early focus on emerging markets venture capital in China. (2:14)
Tharon's involvement with Lendit from 2013 and the start of Lendit China. (3:20)
China emergence as a market leader in fintech innovation after 2013. (5:01)
The role of mobile as key driver of fintech in China. (5:34)
Why the listing of China-based peer-to-peer lender Yirendai on the New York Stock Exchange (NYSE) was so significant. (6:20)
How fintech in China evolved to wealth management. (7:20)
The early days of peer-to-peer lending in China. (7:54)
Why fraud was a problem in many so-called peer-to-peer lending platforms. (9.00)
The shift to raise the level credit screening on peer-to-peer lending platforms. (10:47)
Why the biggest challenge for peer-to-peer lending in China was a lack of borrowers. (11:28)
The multiple regulatory challenges over peer-to-peer lending in China. (12:06)
The requirement for peer-to-peer lenders to use third-party banks to hold assets. (14:50)
The initial lack of clear rules peer-to-peer lending from the Chinese government. (15:50)
The similarity of regulatory challenges in China and other emerging markets. (16:20)
The lack of an effective credit ratings system in China. (17:00)
Why China may be able to innovate in the way credit ratings are done. (17:20)
How new financial technology can increase financial access for people in emerging markets. (19:32)
Has fintech innovation reached its current limits in developed markets? (21:13)
Why the transition in fintech will play out over the longer term. (25:15)
Which fintech companies are leading innovation in China? (27:34)
The differences in fintech innovation at big institutions and startups in China. (31:00)
The origins of many crowdfunding companies in China. (33:30)
Fintech lending and investment in real estate in China. (34:48)
Where are the new fintech centres in emerging markets outside of China? (35:55)
How to connect with Tharon. (40.30)

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Dianrong's Ling Kong on how tech is transforming finance in China

Understanding the scale of online alternative finance in China

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Dianrong.com is at the forefront of a financial revolution in China, which is being driven by technology.

Ling Kong is the Chief Technology Officer of the China based peer-to-peer lending company Dianrong.com, which is one of the most innovative technology-based alternative finance providers in China.

Lings background in Computer Science and his interest Human-Computer Interaction translated into leading the deployment of large-scale cloud platforms across a number of technology start-ups and major enterprise teams.

In this episode, Ling talks about:

How fintech in China is able to fill the infrastructure gap in financial services left by the traditional banking system.
The technology engine which is needed to to support the exponential growth in peer-to-peer transactions.
How big data is enabling a shift from traditional credit risk assessment to heuristics-based risk assessment.
Whether Dianrong.com be expanding across borders in the future?

We hope you enjoy this Q&A with Ling Kong.

Dianrong.com is a technology based peer-to-peer lending company that started operations in March 2013, and co-founded by Soul Htite. Soul had previously co-founded Lending Club in the U.S. and he has been a leader in using technology to automate much of the credit-lending cycle in a peer-to-peer lending model.

Selected links from the Episode

Connect with Ling Kong Dianrong Mafia technology blog

Wechat ID: DianrongMafia

Dianrong.com Wikipedia entry

Interview with Soul Htite, co-founder and CEO of Dianrong.com on Supply Chain Finance and Blockchain

China's personal credit reporting company pilot system.

Sequoia

Lending Club

Prosper.com

Detailed show notes*

With thanks to Xuan Shi.
Introductions to Ling Kong and Dianrong.com. (0.58)
How Ling Kong came to fintech in China. (1:44)
How Ling s interest in finance developed out of his experience at Microsoft Azure, where helped to build Microsoft Commerce, a SaaS platform built for secure online transactions. (2:05)
Ling s video game start-up, which was invested by Sequoia Capital. (2:48)
Why video games in China are not just about content, but building virtual economies. (3.03)
How structuring online systems translates to financial technology. (3:45)
How Ling met Soul Htite, who was founding a fintech start up in China, which ultimately became Diangrong.com. (4:18)
Why Ling and Soul thought the rise of online third party payments systems could lead to fintech becoming a rising star in China. (4:40)
Why fintech in China has had greater potential than in established economies. (5.00)
How Dianrong was able to start and flourish in China. (5.20)
The differences between starting a fintech company in US versus China. (5:40)
How the first U.S.-based peer-to-peer lending companies, Lending Club and Prosper.com were initially shut down by the Security and Exchange Commission (SEC) in the United States. (5:52)
How the SEC s eventual approval for fintech in the U.S turned out to be relatively good for alternative lending. (6:53)
How government restrictions on investing and borrowing heavily limited fintech development in South Korea. (7:14)
How China's still rapidly growing economy has been accompanied by innovation. (8:23)
How the Chinese government tends to let innovation go first, before later restricting using the rule of the negative list . (8:50)
How fintech innovation has flourished in China. (9.10)
How stricter regulations on fintech have been introduced in China over the past year and will be strictly implemented by August 2017. (9.30)
How it took four to five years of rapid fintech innovation in China from 2013 before tighter regulations were introduced. (9.45)
What is the difference is between peer-to-peer lending and traditional bank lending. (10:15)
How Chinese banks are traditionally operations heavy. (10:25)
Why shadow banking outside of the traditional banks has accounted for over 40 percent of lending in China. (10:50)
Why the traditional banks like to do big and easy business by lending to large companies and projects. (11:30)
How the traditional banking system has been unfavourable for consumers and small businesses. (12:00)
How starting with the needs of consumers and small businesses led to the rise of Alipay. (12:20)
How the gap left by the traditional bank system has created an opening for lighter, faster and more responsive financial services. (12:50)
How the United States financial infrastructure compares to China in terms of pre-existing banking services. (13:20)
How fintech in China is filling the infrastructure gap in financial services. (15:42)
How interconnected financial networks in China are missing from the legacy systems in the U.S. (15:55)
How the barriers to entry for new peer-to-peer lending businesses in China have risen. (16:45)
Why peer-to-peer lending is so successful in China. (17:06)
Why peer-to-peer lending models need large scale populations to work well. (17:18)
Why the need for scale is a weakness of peer-to-peer lending. (18:26)
Why it takes a certain volume of people and transactions for peer-to-peer lending to become effective. (18:45)
How technology differentiates Dianrong.com from many other peer-to-peer lending platforms in China. (21:55)
The difference between using technology to innovate versus using technology to facilitate traditional financial services. (22.25)
The ledger-based system underpinning Diangrong.com s infrastructural services. (24.45)
Why the difficult part of peer-to-peer wallet-based systems is being able to write many transactions from many people. (25:30)
The engine which is needed to to support the exponential growth in peer-to-peer transactions. (26:22)
How Dianrong.com fractionalises loan investments and allows even small investors to diversify across many loans. (27:00)
How fintech expands access to private banking services to much wider layers of people. (29.00)
What plans does Dianrong.com have to apply blockchain technology? (29:30)
Why Dianrong.com has been putting significant resources into developing blockchain technology. (30:00)
How technology is commoditising access to more sophisticated types of financial services. (31:25)
How Dianrong.com deals with borrowing. (32.10)
How big data is enabling a shift from traditional credit risk assessment to heuristics-based risk assessment. (34.00)
The limits of traditional credit risk assessment. (36:05)
How the collection of wider types of borrower data enables the use of multiple big data models. (37.45)
How Dianrong.com accesses borrower data. (39:00)
The role of partnerships data sources, like Alipay. (40.15)
China's pilot personal credit data companies. (41.00)
How Dianrong.com uses other API-based data sources. (44.00)
How many people is Dianrong.com serving? (45:08)
What joint partnerships Dianrong.com has with other institutions? (47:23)
How will P2P landing and traditional landing co-exist in the future? (49:14)
Will Dianrong.com move across borders? (55:20)
How to connect with Ling. (57:31)

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The Fintech in China Show brings you in depth interviews with people involved in some of the most exciting developments in financial technology in China.

Show notes

Hi, I am Luke Deer, co-host of a new show called The Fintech in China Show. I write about finance and fintech in China. This is a show for people who want to know more about fintech in China.

I'm going to be joined by my co-host Xiaochen Zhang. Xiaochen is the founder of Fintech4Good and the Blockchain Frontier Group, and Xiaochen has recently launched a global blockchain acceleration program in 10 cities and five continents, including in Shanghai, China.

In this show we do in depth interviews with people involved in some of the most exciting developments in financial technology in China. We are going to be talking about how fintech is changing China s financial landscape, inside China, and increasingly across borders.

Follow Luke and Xiaochen as the grow The Fintech in China Show.

If you enjoy the show please go an rate us on Apple Music.

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