Research On The Big-data-technology- Enabled Credit Business Model And Risk Management

In 2019,the world financial market grows slowly;global credit business emerges divergent trends,and domestic credit business has going through constriction.On the one hand,for increasing inner impetus of credit market People's Bank of China issued Fin Tech Development Plan(2019-2021),which continuously encourages local governments and financial organizations to push and deepen the development of big data technology.On the other hand,many governments,one after the other,carried out a series of rectification work on high interest rates,violent collection,invasion of privacy and other social chaos.Data-driven credit business has gradually become the necessary path of traditional financial enterprises' transformations.How to allocate big data technology in every link of credit business reasonably is the first challenge of transformation;while after application of big data technology,how to scientifically design and reasonably optimize original business models becomes the key bottleneck of business breakthrough.Financial Institution M established in 2015,which is a consumer finance company ratified by China Banking and Insurance Regulatory Commission.At very beginning of establishment,financial institution M set “Data-driven” as its development strategy,and it continuously put effort in big data technology R&D,exploring data-driven credit business models for a long time.Generally speaking,this article sorted related theories of big data technology and credit business based on trends and changes of macroscopic financial environment,besides domestic and international circumstance of financial big data industry.Specifically,this article introduced background information,strategic planning,development scale,and product line deployment of financial institution M,clearly demonstrated universality as well as uniqueness of cases used.Furthermore,this article dissected marketing section,credit life cycle(pre,mid,and post)of credit business,analyzing and evaluating benefits of big data technology applications on risk identification,risk assessment,and risk management.Instalment business of medical cosmetology(IBMC)is the core case for analysis and demonstration in this paper.Firstly,this paper comprehensively replied the whole procedure about how Financial Institution M explored business model of medical cosmetology,as well as the characteristics and risk-prevision measures of IBMC under different technical means.Secondly,this paper analyzed the business model of IBMC,and summarized specific measures for risk-prevention in every stage of business conduction.Last but not the least,based on financial data?transaction data?business data from 2015 to 2019,this paper conducted business scale evaluation?costumer analysis?financial analysis,and loan quality analysis which produced by its credit assets of Financial Institution M.With all above it is demonstrated that the deployment of big data technology brought positive influence to business performance of Financial Institution M.The author raised that except give full consideration to the balance between risks and benefits,the layout of big data technology should follow the ideas of dividing links,trial and error on a small scale,and gradual replacement.Designing data-driven credit business models should strictly distinguish data sources and business scenarios;identify,evaluate,and manage risks based on data-driven decisions,models,as well as checks and balances of procedure.This article provides references and suggestions for traditional financial enterprises engaged in credit business that wants to transform into data-driven enterprises.