360 financial disclosure business: 94 billion 400 million yuan has been loaned to 6 million 400 thousand borrowers.


360 financial disclosure business: 94 billion 400 million yuan has been loaned to 6 million 400 thousand borrowers.

Sina Technologies News Beijing time October 27 noon news, 360 Finance yesterday formally submitted a prospectus to the United States Securities and Exchange Commission (SEC) for listing on the New York Stock Exchange, the stock code is "QFIN".

360 the IPO is expected to raise no more than US $200 million. The issue price range of IPO and the number of shares issued have not been disclosed in the prospectus. The IPO underwriters are Goldman Sachs and Citigroup.

The prospectus discloses that 360 Finance is a digital consumer finance platform and a financial partner of 360 Group. With the cooperation of 360 Group, the company's technology can be smoothly transformed, get the borrower, leave the borrower, become a capital advantage, thus allowing rapid expansion of the company's business. From its inception to September 30, 2018, the company has loaned 94 billion 400 million yuan to 6 million 400 thousand borrowers.

The following is a summary of the business in the 360 prospectus:

360 Finance (hereinafter referred to as "company") is a leading digital consumer finance platform and a financial partner of 360 Group, one of the largest Internet companies in China, which connects more than 1 billion mobile devices. The company provides customized online consumer finance products for borrowers with high quality and unsatisfactory services, mainly financed by partners. Because the company has a proprietary technology platform, can provide a unique user experience, in the risk management also has a unique place. With the cooperation of 360 Group, the company's technology can be smoothly transformed, get the borrower, leave the borrower, become a capital advantage, thus allowing rapid expansion of the company's business. From its inception to September 30, 2018, the company has already loaned 6 million 400 thousand yuan to 94 billion 400 million borrowers.

The company's core product is affordable, unsecured digital credit lines, which borrowers generally use for consumer spending, often as a supplement to credit card arrears. First, potential borrowers need to apply online. The process is simple. About 95% of recent credit applications are processed through automated credit decision-making mechanisms. After approval, borrowers can get the money within five minutes, and they can choose the most appropriate way to borrow according to their consumer needs.

Establishing an intuitive platform linking borrowers and Capital Partners is the company's value proposition.

Borrowers: Borrowers are usually young people with good credit histories, 74.1% of whom have credit cards. These borrowers are attracted to the company's platform mainly because they can get credit lines quickly and transparently through simple digital interfaces. Compared with other online consumer finance platforms, companies tend to offer borrowers more credit lines at lower prices and are more resilient.

- Funding Partners: Companies provide support for funding partners, most of which come from financial institution partners. By working with companies, partners can connect with high-quality borrowers and can also use corporate platform tools such as borrower assessment matching tools, workflow automation tools, and strong A big risk management tool. According to Oliver Wyman, the company's M3 + overdue rate was only 0.6% as of Sept. 30, 2018, bringing a return of more than 6.5% for its funding partners, higher than the traditional investment and borrowing opportunities, and that's where the company's value lies. As of September 30, 2018, the company has worked with 18 financial institutions, mostly leading national or regional banks.

The company has developed a proprietary technology platform to support the entire transaction process, from credit applications to transactions. The simplicity, simplicity and speed of the company's credit decision-making process proves that the company has a great advantage in data analysis, especially in fraud identification. According to Oliver Wyman, fraud accounts for 50% of the industry's bad debts. For example, companies have introduced a powerful automated authentication mechanism based on face recognition to filter fraudulent credit applications. More than that, the company also has advanced analytical techniques that can translate data into enforceable recommendations that assess the repayment ability and willingness of potential borrowers. As of September 30, 2018, the company has employed 332 research, research and development and risk management staff, accounting for 48.0% of the total staff, the company also works closely with 360 Group to ensure that they continue to lead in technology, and to consolidate technical advantages.


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