19, December 2014: During the world’s top industry summit held by LendIT, Jason Jones — the founder of America’s largest P2P research institution Lend Academy — released a survey report that took 9 months to complete, on Chinese P2P companies.
Jason Jones said, “As we said in December of last year, in China, the P2P market is huge, has greatly surpassed that of the United States, and is developing fast. Now that China already has hundreds or thousands of P2P loan platforms, it is very difficult to understand how the P2P industry in China originated. Now to every industry person or company, we always ask the same question, “Who is China’s most important P2P company? Not the biggest, or the earliest, or even the most popular, but who is the most important player.”
After thorough research and investigation, Jason Jones obtained “China’s most important P2P company” list, which has become the most important reference guide in determining which Chinese P2P companies were invited to the LendIT summit. This list includes CRF and eight other Chinese P2P companies.
In addition, CRF as the Shanghai Service Industry Bureau of the Special Committee of Financial Information Services Unit, CRF’s CEO Wang Zhengyu, Ph.D. (University of Illinois Chicago statistics), who’s long-term commitment and crucial role to P2P’s growth and development in China, will be the keynote speaker at the LendIT summit.
The following excerpt is an evaluation on CRF’s performance, taken from Jason Jones’ survey report, “China’s most important P2P companies.”
China Rapid Finance is a 12 year old company that provides consumer credit management solutions to financial institutions to help manage credit card risk and to develop credit card decision solutions. They are experts in risk underwriting, and more than 50% of all credit cards that have been issued in China have used CRF’s credit risk underwriting models. In 2011, CRF launched a P2P platform and, at the end of 2013, the platform had an outstanding balance of approximately 1.5b yuan ($250m) with average loan size of $6,000. According to the Wall Street Journal, China Rapid Finance is in the preliminary stages of exploring a U.S. IPO.
About: China Rapid Finance:
Founded in 2001, CRF is based in Shanghai, China and is one of China’s leading providers of Peer-to-Peer (P2P) micro-lending products. CRF provides products in over 60cities across China.
CRF’s strategic advantage is an industry leading P2P micro-lending services platform. This platform provides sophisticated risk management, post-loan collection, wealth management, and consultation services to investors. Leveraging the newest, cutting-edge risk analysis technology along with over 10 years’ of experience in China’s financial sector, CRF is one of the premier providers of P2P lending services in China.
For Media Contact:
Company: China Rapid Finance
Address: 5F Building D BenQ Plaza 207 Songhong RD.
Changning District Shanghai (200335), China
Email: [email protected]