Chen Shaojie thought for a while and then expressed his opinion: "According to my observations in Southeast Asia and India, these small and medium-sized players just want to make a profit and have no intention of operating for a long time.
The interest rate is set as high as it can be, and the long-term flow of money is not considered at all.
At first, local users in Southeast Asia were very honest and the overdue rate was not high.
The debt collectors organized by them are also very simple in collecting debts. They directly use religious beliefs as a threat: as a dishonest person, your God will not forgive you.
The effect was very good, and those Indonesians who believed in green religion paid back the money honestly."
Zhang Yida wanted to laugh a little, is it so magical?
Domestic debt collectors deal with old people, but Class 18 has used all their martial arts skills, and there is still nothing they can do to get some of the money they owe.
Chen Shaojie laughed and said, “But as more and more cash loan companies enter Indonesia, these methods gradually no longer work.
Some companies have begun to expose users' address books, intimidate and threaten customers through instant messaging software such as Wazipu, and send Yellow pictures to some female borrowers.
According to the regulatory requirements of Indonesian OJK, there are also restrictions on collection. You cannot call more than 6 relatives and friends of the borrower, and you must make calls during specified working hours. You cannot call on holidays, and the frequency of calls is also limited.
These regulatory requirements were issued in a targeted manner by OJK officials after inspecting China's financial technology market and noticing the financial chaos in our country.
We have gone through the pains of development, and they also intend to avoid the painful lessons we encountered."
Zhang Yida nodded and asked: "Where are the users? Can the overdue rate be controlled?"
Chen Shaojie shook his head, "Difficulties are always rising. This is inevitable.
Now there are nearly a thousand small and medium-sized players in Indonesia alone. They don't care about risk control and only lend money to individuals.
This has led to the emergence of long-term lending, loan fraudsters and scammers.
Their loan repayment rate is higher than that in China. It is normal for a person to borrow more than ten or twenty times from the same platform.
These users are basically long-term borrowers and will borrow from 11-12 platforms within 7 days.
The per capita income in Indonesia is lower than that in China, with a white-collar worker earning around 3,000 yuan per month.
Under such circumstances, Indonesia's long lenders are more likely to blow up."
Zhang Yida frowned and asked: "These players did not share the blacklist data to establish an alliance?"
Chen Shaojie spread his hands and said, "The entry time is still too short, and both sides are very wary.
Didn't some people in our country establish an industry blacklist before? Some of their unscrupulous players began to operate in a shady manner and put high-quality customers of their own platforms on it.
Then other platforms will not lend money to these high-quality customers, and they can monopolize these high-quality customers alone.
Obviously I have very good qualifications, but I can't borrow money from other platforms. Only one platform keeps increasing my quota.
If you were a user, how would you choose?
Therefore, the good blacklist sharing mechanism has been polluted by some people with bad intentions. People no longer believe in these so-called alliances. They are all routines.
In a foreign country, each other will only become more wary, and everyone will do their own thing."
Zhang Yida didn't say anything. This industry is inherently gray and full of chaos.
"How are we doing in preventing long lending?" Zhang Yida is more concerned about this.
"Fortunately for us, one is that we have advantages in risk control technology, unlike those small and medium-sized players who directly buy other people's systems."
Speaking of this, Chen Shaojie smiled and said, "Thanks to Tiance Technology for selling so many systems. Our database is very rich."
Zhang Yida didn't answer, and Chen Shaojie wisely didn't mention it again.
But this kind of thing is normal. To enjoy the high-quality services provided by the giants, you have to contribute some data to me.
Zhang Yida still has some conscience and does not sell the system in China to harm his compatriots. He is too lazy to care about the life and death of foreigners.
I just sell tools, and I have no control over what you use them for.
He has no moral obsession. He is promoting the advancement of international financial technology.
“In addition, we have formed a small alliance with leading platforms such as Yimin Wangjin, Yimin Bank, Pai Shoudai and Yiyindai.
We have cooperated for so many years and are relatively confident about each other. Coupled with the help provided by Tiance Technology, we and Yimin Wangjin are definitely the two companies that have the best control over long-term lending."
Zhang Yida nodded slightly, Ruixiang did not end up lending directly, these two companies were Ruixiang's white gloves.
If something happens, it's easy to blame the blame.
"You said there are loan fraudsters in Southeast Asia?"
Zhang Yida said with a smile, "Don't you think the indigenous people are very simple?"
Chen Shaojie shook his head like a rattle, "In Indonesia, the cost of forging a set of ID cards, work certificates, and tax cards is only 5-10 US dollars.
The initial loan amount of a general platform is generally about 500 yuan, which can fully cover the cost, which has given rise to the fraudulent loan industry chain.
For example, domestic face recognition and liveness detection are limited by cost on the one hand, and local infrastructure on the other hand. They cannot be connected with the data of relevant departments, so they cannot be used.
These loan fraudsters fall into two categories.
One type is the Chinese who used to harvest wool. They would hire local Chinese as middlemen, give local indigenous people some money, and borrow their ID cards to make payments.
There is also a category of local people who are self-taught.
However, they can only develop small and medium-sized platforms, and they cannot defeat us. We have a very deep technical accumulation in preventing fraudulent loans."
Chen Shaojie shrugged, "So if small and medium-sized platforms want to make money and cover their bad debts, they can only increase the lending rate and increase collections more intensively."
He looked at Zhang Yida and said very seriously: "What I fear most right now is that just like China's bad currency drives out good currency, if something happens, I will be cut off by the Indonesian OJK."
Zhang Yida was silent for a long time before saying, "It is very similar to the development trajectory of China's Internet finance, and it is faster.
It took many years of development for China's Internet finance to usher in a brief period of prosperity, followed by decline.
At present, the Southeast Asian market has been directly and forcefully matured, and the prosperity period may be shorter than that of our country.
Next, control the pace of development, put the safety of principal first, and only lend money to high-quality customers."
Chen Shaojie nodded, "That's no problem. I'm just worried that we have just cultivated the market and it will be destroyed before we can harvest it.
Home Credit has developed so wildly in our country. It also holds a consumer finance license, uses Chinese trusts and bank funds to lend money, and its employees are also Chinese.
It completely provides a model and then enjoys the profits for so many years.”
Zhang Yida's mouth twitched, "The national conditions are different. Our country has a relatively friendly business environment for foreign investment. This is one of the reasons why our country can rise rapidly.
If other countries were so smart, they should have developed long ago."
Having said that, Zhang Yida is also a little worried that the good situation in Southeast Asia will be ruined.
It’s almost impossible to stay in the country anymore. If Southeast Asia is expelled again, the only option is to provide financial technology services to Third Brother, Xiao Hei and the others.
"It's better to put more thought into the country and open up the path of loan assistance." Zhang Yida thought for a while and reminded.
Chen Shaojie said "hmm" and said: "We are still walking on two legs at the moment. Due to regulation and the fierce competition environment, domestic business profits have been declining, and the scale will not increase for a while.
At present, all funding parties have been converted into licensed financial institutions, and cooperation with P2P has been completely suspended."
Zhang Yida nodded, as long as he stopped cooperation with P2P and provided loans at an annual interest rate of no more than 36% required by the regulatory agency, there would be no big problem.
Yimindai and Yimin Wealth are doing well and don't really need to wipe their butts, but the other two are a bit more troublesome.