The impact of reptile investigations may be exceeding market expectations.
Editor’s note: This article is from WeChat public account “Zero Finance” (ID :Finance_01), author of the hot springs.
The impact of reptile investigations may be exceeding market expectations.
The reptile service of many third-party big data risk control companies was investigated. The public reports and market understanding of the media were aimed at rectifying the “super-loan” and “routing loans”.
But now, according to Zero Financial, almost all the reptiles in the field of wind control have stopped working. Among them, is not only a crawler of third-party big data risk control companies, but also a self-built crawling team of head-net lending companies, some consumer finance companies, and even giant-level financial technology companies.
After the reptiles stopped working, their impact has exceeded the scope of “super-credit” and “routing loans”, which led to a large-scale reduction of many of the normal-operated scenario-free cash loan products on the market.
Moreover, after the reptile team of some head companies stopped working, the scale of cash loan products was greatly reduced. Previously, Zero Financial had reported that after the reptile service of the major third-party big data risk control companies in the industry stopped, many loan products of online lending platforms went offline, and many loan supermarkets were in high-volume products, some in three points. One, some are more than half.
A senior industry insider told Zero Financial, There were some smaller loan company products that were stopped at the time. These products were many in number, but in fact the total market share was not large. The reptiles of many head companies are currently out of service, and the market share of these companies’ loan products is huge.
In the data market, the price of data is rising sharply as reptiles stop working. This has led to a rapid increase in the cost of risk control, and many lenders are not fully prepared for this. Due to the immaturity of alternatives and the wait-and-see for new risk control measures, the bad debt rate of some loan products soared.
Where is the border between reptile compliance and violations? This problem has never been so embarrassing. A clear definition of this issue has never been so important and urgent. Crawler compliance and platform overdue rates, like the two swords hanging over the head, have left many head companies in a dilemma.
Stop the crawler
The data shortage began to spread further from October 21.
On the morning of October 21, 51 credit card office in Hangzhou Xixi Valley was attacked by Hangzhou police. Since the 51 credit card is a Hong Kong stock listed company, this news quickly triggered widespread market attention.
This news also frightened other online lending platforms. “Many platforms think that 51 credit cards were checked because of crawling.” A net loan platform staff recalled.
Then, in the afternoon, the Beijing Financial Bureau window guides all the big data companies in the district to see if there is a violation of the crawler business. If there is no requirement for the company to issue a letter of commitment; if there is a violation of the crawler business, it should be reported and rectified as soon as possible. This news was reported by Caixin on October 22, but some insiders revealed that in fact, on the afternoon of October 21, the notice had been issued.
The self-built reptiles of the Beijing online lending platform are off the assembly line. An insider of the online lending platform complained: “To do Internet finance business, in addition to individual BATJ-level data giants, crawlers are needed to climb data. Now let’s report the ‘violation crawler’, no one knows what kind of reptile is In case of violations, what kind of reptiles are compliant, in fact, the law does not clearly stipulate. At this time, who dares to report? After receiving the notice, our only choice is to stop using reptiles and loan products to go offline.” /span>
That night, many online loan platforms adjusted parameters and changed products overnight. A network loan platform risk control person told Zero Financial, This almost affects 100% of the data line of the head online loan platform. Without data, there is no way to control it, except for the main products. Most of the products are stopped.
But then, the 51 credit card investigations quickly subsided. On the evening of October 21, Hangzhou Public Security Officer announced at 23:14 that the action was conducted on 51 criminal credit card entrusted outsourcing collection companies suspected of seeking trouble and other crimes. The “51 credit card” entrusted the outsourcing collection company to impersonate the state organs, and adopted acts of threats such as intimidation and nuisance to collect debts, and was suspected of finding troubles and other crimes. At present, the case is still under investigation.
On October 22nd at 6:02 am, 51 credit card CEO Sun Haitao issued a letter of apology on Weibo, saying that he had a bad influence on the public opinion of the company yesterday, and expressed responsibility for the company’s management. Apologize to everyone. At present, the core management of 51 is all in place, and its core businesses such as 51 credit card butlers and 51 characters are all functioning normally.
However, the company that stopped its self-built reptiles in Beijing did not dare to go online again. The above sources revealed that many online lending platforms are now starting.”Buddha wind control.” The so-called “Buddha-style risk control” means that, in the absence of any data, after the customer comes, the loan ratio is greatly reduced and the amount of the loan is reduced. For example, for example, 40% of the customers can borrow money. Now the ratio has dropped to 30%. It can be borrowed from 10,000. Now it is cut to 8000, and it depends on the situation. If so, If the overdue rate of the loan is still high, it will have to fall further.
There is no end of the matter, and the impact continues to spread. Some other online lending platforms have stopped crawling. Beijing’s online lending platform plays an important role in the country. At present, there are only 400 online lending platforms still operating nationwide, and eight of the top ten platforms are in Beijing. Online lending platforms in other regions began to emulate Beijing and stop crawling. “This is a family to watch, and everyone compares each other. If you see a company similar to your own, stop the reptiles, you will stop because of fear.” One insider of the online loan platform said frankly.
Many insiders told Zero Financial,Many reptiles on the market have stopped. After a lot of research and verification, Zero Financial has learned that most online loan platforms in Beijing and Shanghai have stopped crawling. According to the data monitoring of Zero Zhi think tank, after October 21st, there is indeed a significant dip in the trading volume of online lending platforms in Beijing and Zhejiang. However, due to the large amount of verification required, it is impossible to confirm all of them. In addition, some self-built reptile teams of consumer finance companies, and even the self-built reptile team of giant-level financial technology companies have stopped crawling data.
The shrinkage of market products can be seen from an indicator, that is, the price of the flow. According to the above sources, the unit price of related products has dropped directly from the previous 17-18 yuan to a few dollars, a decline of more than 50%.
The most sensitive is the overdue rate data. The above people are very worried that if the risk control is not good, the overdue rate data of these platforms will be very ugly after one or two months. The current risk control is really very difficult. He recalled that after half an hour of the news that the 51 credit card was checked out, the “撸口子” people became active. Another senior risk control person revealed that the overdue rate of the platform has soared.
Impact on the Bank
Things are not over yet.
After a day, the People’s Bank of China’s two notices of the use of reptiles by banks and corporate credit bureaus have once again strained the air.
On the afternoon of October 24, the network circulated screenshots of multiple versions, saying that the emergency line wasResearch, the bank is required to report whether it is cooperating with third-party data companies. The collaborative content of the investigation mainly involves data collection, credit fraud, credit scoring, and wind control modeling. The PBOC requires reporting the name of the third-party company, the background of the shareholders, and whether it involves reptiles.
At the same time, the screenshots show that the corporate credit reporting agencies have also been notified that they need to sort out whether they have business or equity investment related to the relevant companies: including Konjac Technology, New Yan Technology, Jiuji Polymerization, Gongxinbao, Bai Knight, Tianji Data, Limu Credit, Juxin Li, etc. (The screenshots of different versions involve different companies and are not yet confirmed).
The bank’s loan-backed products began to shrink. Some senior insiders in the bank told Zero Financial that his bank is more cautious about helping the loan products. Many banks are state-owned, and their emphasis on reputational risk is higher than commercial risk. “After this news came out, our chairman personally called, if you feel any cooperation that may have a reputational risk, stop and look at it first,” he said. A number of other industry insiders confirmed that many banks’ loan-backed products are shrinking.
Overall, the cessation of reptiles has little impact on the bank’s existing business. On the one hand, banks have a relatively large share of public business, and retail financial time is not long; on the other hand, in the retail finance of banks, the use of crawler data is rare.
However, the reptiles stop working more or less on the bank’s retail financial transformation.
Previously, an insider of a banking system service provider disclosed to Zero Financial that their main business was to help banks develop systems and help banks establish their own independent risk control system. Banks need to transform into a retail finance business, and they want customers to sink, but there is actually no data for these customers inside the bank. Previously, reptiles were a more common technical solution on the market. But after the reptiles are currently being rehabilitated, the bank’s retail financial transformation must find a new wind control solution. “The development of related businesses must be postponed,” he revealed.
Since the beginning of this year, the concept of open banking has gradually become hot, and the digital transformation of banking retail business has become inevitable. Many startup companies have begun to enter this market. A founding team member of a startup company told Zero Financial that in the actual business, it is felt that the bank is more cautious about the risk of reptiles. There are not many technical talents in small and medium-sized banks, and there is no special understanding of reptiles, but the regulatory winds make these banks compare. Fear of using reptiles. “When we recommend a risk control solution, we can only recommend other alternatives first. If there are problems that can’t be solved, then consider whether you can use the crawlers in compliance,” he said.
Big data risk control bottom pumping
Overall, how big is the impact of reptile suspension on market loan products?
A senior risk control person told Zero Financial,In addition to the products of very few very head companies in the market, most of the cash-sending products were affected. It also includes some non-cash loan scenarios. It’s not just the lenders that are affected, but the big data wind control companies that are still operating normally are also affected.
According to industry estimates, cashless loans account for about 60%-70% of online loan platform assets. The above-mentioned senior risk control person revealed that he has several companies where his friends are closed. Without the data provided by the reptiles, the alternative data that can be found is limited, and the data obtained by joint modeling is not ideal. As a result, the bad debt rate of many products soared.
The head platform has also been affected. A head-mounted chief wind controller told Zero Finance, such as the crawling of some public data, such as the data of the court’s untrustworthy executor, because the reptile team stopped, can’t climb now, and the risk control strategy needs to be fine-tuned.
Look at other consumer finance scenarios. An internal risk control person in an auto finance platform said that their risk control was combined online and offline, and the data of the line was mainly used for anti-fraud. But after the crawler stopped, online anti-fraud was affected. This has led companies to reconsider the use of other offline methods for anti-fraud, and new methods are being developed.
Looking at the big data risk control platform that is still in operation. A senior risk control person told Zero Finance, the data between the big data risk control platform is “you have me, I have you”, the data of Big Data Risk Control Company is not only received by many loan companies, but also many Other big data risk control companies pick up. After the reptiles stopped, the data applied by these companies was a small chunk, so the effectiveness of various scoring products was greatly reduced. “Some of the credit score products like the original ‘** points’ are now greatly discounted. In actual use, we are not relying on them as much as they used to be,” said the risk control person.
“Scrawler is the soul of big data risk control and the underlying cornerstone of big data risk control. To do big data risk control, you must have rich data before you can use this data to build models and conduct credit evaluation. The person said, “This is equivalent to building a house and taking the foundation below. The houses above are all collapsed.”
No sense of data source carnival
The market is undergoing tremendous adjustments in seemingly calm.
The value of the data is quickly highlighted, and some hold data.