Podcasts Government Pacific Exchanges Lessons from China’s Peer-to-Peer Lending Boom

Lessons from China’s Peer-to-Peer Lending Boom

Published: July 5, 2017, 4 p.m.

In this episode of our series on financial technology, we sat down with Ning Tang, founder and CEO of CreditEase. Ning has been a leader in the development of China’s peer-to-peer (P2P) lending industry and has a unique perspective on the development of fintech worldwide.

Some of the key takeaways from our conversation with Ning include:

  • P2P lending in China has helped borrowers overlooked by traditional financial institutions.
  • Many Chinese fintech firms were initially reluctant to share data, but data sharing has turned out to be a benefit for the entire industry.
  • Regulation of P2P lending has increased as the industry has grown in size.
  • As the industry has matured, banks have become essential partners for P2P firms.
  • A combination of traditional and alternative data sources work best for making credit assessments.

 

The views expressed are not necessarily those of the Federal Reserve Bank of San Francisco or of the Federal Reserve System.