| This article begins with the main elements of the business model of consumer finance companies,namely,the main body of the establishment of consumer finance companies,customer positioning and product categories,and risk management,and studies the business model of China’s consumer finance companies.First of all,we selected three representative consumer finance companies,namely BOC,Suning and Machi,and emphatically analyzed the current status of China’s consumer finance companies that have not yet established a mature business model.In addition,the main elements of the successful business model of foreign consumer finance companies were studied,and through comparative methods,the similarities and differences between China’s and foreign consumer finance companies’ business model elements were analyzed,and the domestic and foreign consumer financial companies’ business models were positioned in the customer group.There are the same aspects of the product category and risk management.At the same time,it is also concluded that the main elements of domestic and foreign consumer finance companies’ operating models are different in the following aspects: first,consumer finance companies have different main bodies for their establishment,second,different product categories,and third,different risk management methods.Understanding the similarities between the domestic and foreign consumer finance companies in their business models will enable us to accurately grasp the future development direction of China’s consumer finance companies with a large business model,and deeply understand the business models of China’s consumer finance companies and foreign consumer finance companies.Differently,we can discover the inadequacies of the business model of China’s consumer finance companies and the areas that need improvement,and then put forward the aspects that the development of China’s consumer finance companies can use for reference.Finally,based on the research on the similarities and differences of the main elements of domestic and foreign consumer finance companies’ business models,from the perspective of reference,four suggestions are proposed to improve the business model of consumer finance companies in China:(1)To attract diversified market participants and enrich the company’s establishment Main body,(2)Develop differentiated consumer financial products,create various sales channels,(3)focus on standardized credit operations,strictly enforce loan business processes,(4)build a systemic defense system,and improve risk management processes. |
