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Sunday, October 22 • 9:45am - 10:15am
How Does Big Data Assessment Stimulate the Growth of Consumer Finance?

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In the present global financial market, consumer finance is in the middle of a whirlwind, bringing many golden opportunities. Large in scale, the consumer finance market has enormous potential, especially in developing countries like China. The Chinese consumer finance market has been growing rapidly since 2008, with an estimated current size of 6 trillion RMB. The prediction has it that the consumption loan in China may surpass 12 trillion RMB by 2020, if growing at an estimated 20% annual rate.
Compared with the U.S. consumer finance that was incepted after World War II, the Chinese consumer finance is still relatively new and facing many challenges despite its large scale and great market potential. China, on the one hand, has a unique compliance system. On the other hand, China does not yet have a well-established credit service system. Therefore, further developing the individual credit system and realizing big data credit assessment is essential to stimulate the growth of consumer finance. How so?
1. Not only dramatically reduces labor costs, but also perfects risk identification, judgment, evaluation, and management, therefore accelerating the credit audit process.
2. Help consumer finance platforms control bad debt and overdue rates, therefore lowering potential risks.
3. Provides accurate credit evaluation, it also exploits precise scenes and unique markets for different groups of individuals by exploring their consumer habits and needs.

avatar for Lingyun Gu

Lingyun Gu

Founder & CEO, IceKredit, Inc.
Dr. Gu received his Ph.D. in Computer Science from Carnegie Mellon University. He later joined ZestFinance in Los Angeles as one of the Founding members and the head of the modeling team. After ZestFinance, Gu worked for Kabbage as the Chief Scientist. He then joined Turbo Financial... Read More →

Sunday October 22, 2017 9:45am - 10:15am PDT
Room G Room G