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The company acts as an intermediary between investors and small business in need of funds. Yirendai is expanding beyond its P2P roots by creating an online wealth management platform called Yiren Wealth to distribute funds and insurance products online.įunding Circle is a P2P lending platform launched in 2010 which caters solely to small businesses. In the first quarter of 2018, loan originations grew 65% year-over-year to $ 1.8 billion (RMB 12 billion), bringing its total outstanding loan balance to $6.8 billion (RMB 44 billion). The company facilitated loans in an aggregate principal amount of approximately $11.4 billion (RMB 73.9 billion) and served 1,092,938 borrowers and 1,300,398 investors from inception in March 2012 through December 31, 2017. Yirendai hopes to continue increasing their market share and expanding their product offerings to become a more comprehensive financial services platform for borrowers and lenders.

Borrowers pay an insurance premium and lenders receive their principal and expected interest in the event of default. Additionally, the company works with People’s Insurance Company of China (PICC) Property and Casualty to provide surety insurance for loans organised through Yirendai Lending. The company partners with China Guangfa Bank to ensure proper custody of investor funds, meaning that loan principal and interest repayments will not cross over with Yirendai’s working capital.

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The average size of loans sourced through offline channels tend to be larger than that of loans sourced through online channels. In 2017, 27.1% of borrowers were acquired through referrals from CreditEase. It also acquires borrowers through referrals from CreditEase’s nationwide service network across over 267 locations in China. Particularly, 54.4% of loans were facilitated through mobile applications in 2017. It utilises online channels, such as search engine marketing, search engine optimisation, partnerships with internet companies and internet traffic acquisition from third-party online loan products marketplaces. Regarding customer acquisition, the company is establishing new acquisition channels and introducing new loan products. The company's expansion through new channels, products and partners Under this new credit scoring system, the platform upgrades its risk grid with five segments and divides potential borrowers into distinctively different credit segments. The Yiren score is modeled after FICO scores in the United States and compiled by a program constructed like a web crawler which gathers available data, such as credit card history or housing allowance tax deductions. In 2017, the company launched Yiren scores, its new credit scoring system, aimed at accurately characterising borrowers' credit profiles. Yirendai differentiates itself from other peer-to-peer (P2P) lending platforms through its risk management systems, customer acquisition, and insurance programs for its borrowers. The platform provides borrowers with fast and convenient access to consumer credit at competitive rates, while offering investors easy and quick access to an alternative asset class. The platform is built on two customer segments: prime borrowers who are credit card holders with a salary income and investors who are seeking wealth management products. Technology-driven and user-centric, the platform efficiently matches borrowers with investors. Yirendai is an online consumer finance marketplace founded in March 2012. Yiren score, modelled after the FICO score, is compiled by a program constructed like a web crawler.In the wake of the regulatory tightening of internet finance, Yirendai ramped up its risk management capabilities.More than 54% of loans are facilitated through mobile applications.Financial Services and Related Research Sources.The Heads of Retail Finance Virtual Meeting.Bank Managers' Challenge and Convention.Excellence in Retail Financial Services.TAB Finance Diary of Events (Full Event Diary).The Best Retail Financial Services Rankings.Green and Sustainable Finance Working Group.Decentralised Finance (DeFi) Working Group.

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