Pioneering into Mobile Online Finance, JD Capital Launched Jiedaidao
Jiedaibao, the first online borrowing-and-lending platform among acquaintances, was launched on June 22. As an App operated by Renrenxing Technologies, Jiedaibao allows users to be anonymous in lending but of real-name in borrowing, and gaining interest margin.
Renrenxing Technologies is an Internet finance company invested by Tongchuangjiuding Investment Holdings Co., Ltd. (JD Holdings), the controlling shareholder of JD Capital (430719). It has attracted Internet and finance talents from Baidu, Alibaba, and Tencent to join. Through nearly half-a-year research and development, it launched a product of great significance in online finance sector —Jiedaibao.
Initiating the model of one-way anonymous borrowing and interest-margin gaining, and achieving finance “disintermediation”
Jiedaibao is a borrowing-and-lending platform based on social relations in reality. It initiated functions of one-way anonymous borrowing and lending among acquaintances and interest-margin gaining. Different from the existing online lending platforms, its biggest feature is “self financing”. Taking advantage of the concept of “social activity”, it creates a new borrowing-and-lending model, realizing the goals of pricing individual credit by the market, free and fair dealing, and self financing.
Jiedaibao integrates the two functions of borrowing money and making money. First, it is a magic tool to borrow money. Users can set the interest rate and amount of money they want to borrow at their discretion, without any examination and approval. When a user needs to borrow, he/she can enter the page of “I want to borrow”, and set the amount, interest rate, deadline and reason for borrowing according to his or her need. Then, he/she can issue the borrowing information just with one click. The whole process can be completed within 10 seconds. If the user has many friends and good credit, and offers suitable interest rate, he/she can borrow money within several minutes even seconds.
“One-way anonymous borrowing and lending” among acquaintances means that, the borrower uses his/her real name, but the lender is anonymous. This function can help the borrower get money rapidly and effectively, and also allows the lender to assess risk actively and gain profits more safely, resulting in a win-win situation.
Meanwhile, Jiedaibao is an effective tool to make money, proving the model of “making interest margin with zero cost”. Users can transmit borrowing-and-lending information after setting a lower interest rate than that offered by the borrower, and borrow money with lower interest rate and lend it with a higher one. Therefore, they can spread information and make interest margin without investing money as principal.
In this trading model, every user can be both borrower and lender. Borrowing and lending are conducted directly, based on acquaintance relations, omitting intermediate links and realizing “disintermediation”. Every user can set up his/her mobile online “self-financing” platform with this App.
According to a survey, about 80% users have been asked to lend money, and friends and relatives are the main borrowers. In the process, the borrower and lender restrict their rights and duties relying on the trust in each other, and it lacks effective restriction mechanism.
The launching of Jiedaibao is expected to fill in this market blank and set up mechanism to standardize the above-mentioned borrowing-and-lending actions.
Double risk control by individual and platform, professional debt-collection system to ensure fund security
As risk control is the basis for online financing to develop healthily in a long term, Jiedaibao provides double insurances in fund security for users.
First of all, Jiedaibao is based on acquaintance relations, so it has the natural risk-control function of “self-purification”. Since the borrower and lender know each other in reality, the lender can assess the repayment ability of the borrower and decide whether to lend the money or not, on the basis of the borrower’s income, expenses, and personal credit. However, to the borrower, he/she does not know who lend him/her money, so it will increase the willingness to repay.
Secondly, Jiedaibao sets up several firewalls. It has cooperated deeply with many authoritative security enterprises and credit investigation institutions to set up security systems, covering collection risk control, credit risk, data risk control, anti-hacking technology security and disaster recovery security. Multi-level risk control systems are established to ensure the security of fund and users’ information. Among them, professional collection risk control system is a highlight. The platform sets up collection management center, call center, complaint center and cooperative collection teams throughout all provinces, cities and key counties. When overdue repayment occurs, it will use the multi-level collection system to help the lender get his/her money back. Meanwhile, Renrenxing is devoting to developing a new collection system “Renrencui”, making use of Internet crowdsourcing mechanism to further optimize solutions of collection problems.
Besides, Jiedaibao adopts third-party trusteeship in fund management. There is no capital pool in the platform, and it cannot reach out to users’ funds. Hence it is impossible for the platform to embezzle the funds, let alone escape with the money.
Seizing the opportunity of “blue ocean”, Jiuding starts new businesses
According to the data of financial industry, the size of retail financial market in China is about 10 billion yuan at present, and the scale of mobile online financial market is expected to reach 4 billion yuan. As some experts predict, there will be companies of hundred billion dollars in the mobile Internet sector. Compared with the “red ocean” of the PC-end competition, mobile online financing is still on the stage of “blue ocean”.
To get a head start on mobile online financing and consumer finance market, the founding team of Jiuding Holdings has made several plans, and the launching of Jiedaibao is the highlight of the whole layout.
Firstly, Jiuding Holdings purchased additional shares in cloud computing platform Elephant Cloud, to increase Jiedaibao’s backend technology ability and lay the foundation for big data analysis. Then, it acquired King Pass, a company with payment license, to ensure users having perfect paying experience and prepare for developing diversified modes of payment in the future. Meanwhile, it cooperates deeply with top law offices to establish “all-round collection system” to provide users with reliable guarantee.
JD Capital set up its wholly-owned P2P brand—JX Finance at the end of May. After putting into operation, Jiedaibao will develop in concert with other brands under Jiuding Holdings.
The iOS and Android versions of Jiedaibao have been launched at the same time. Please log in Apple App Store, mainstream Android App stores or www.jiedaibao.com to download the App, and Jiedaibao will provide you with 24/7 customer services and best borrowing-and-lending experience.