360 Finance 360 Finance, Inc. (NYSE: QFIN) was founded in 2016 and is headquartered in Pudong New Area, Shanghai, China. It has 691 full-time employees (9/30/2018). It is an Internet finance company and is owned by 360 Financial Services (Beijing Qibu). The group operated by Tianxia Technology Co., Ltd.) was incubated and split into independent operation and development in September 2018. On 10/26/2018, the IPO prospectus was submitted in the United States.
360 Finance 360 Finance (QFIN):
Finance is 360 360 financial partners, financial partners to finance 360 mining and recommendation loan users, and help them to provide credit solutions for loan users, the platform’s products include 360 IOUs, 360 360 small and micro loans and installments.
360 Financial’s products:
- 360 IOU : is an Internet consumer credit product that recommends instant loan services for users
- 360 Small and Micro Loans : Provide online working capital loan services for small and micro enterprises
- 360 installment : the consumer finance sub-brand of 360 Finance, which binds existing financial technology businesses by independently building an installment e-commerce platform
1. Argus intelligent wind control engine
In order to more intelligently anti-fraud and credit risk management, 360 Finance independently developed the Argus intelligent risk control engine, applied artificial intelligence technology to establish a system and dynamic management of risks, and feedback risk control decisions for each credit application as quickly as 3 seconds , The processing can be completed in 3 minutes at the fastest. So far, the Argus engine has processed nearly 40 million credit evaluation applications.
2. Universe Rubik’s Cube Pricing Engine
360 Finance independently developed the Cosmic Cube pricing engine, which comprehensively considers the user’s credit rating, loan period and many other factors, automatically monitors and adjusts interest rate pricing based on algorithms, and continuously automatically iterates the pricing model.
Official website information :
Relying on 360’s data, flow, and technical advantages, 360 IOUs are positioned as a financial technology platform in the consumer loan field, and become a technical link that links high-quality borrowers with financial institutions’ loan services. The 360 IOU, on the one hand, cooperates with financial institutions to help them expand and accurately profile target consumer loan customer groups, and improve the customer acquisition capabilities and data risk control capabilities of financial institutions in the field of online loans. On the other hand, it helps individual borrowers with better credit qualifications to obtain low-cost loans provided by financial institutions, reduces borrowers’ financing costs in the consumer credit sector, and makes borrowers’ credit data truly a basis for the convenience and reasonable price of financial services . Thereby promoting the development of inclusive finance.
360 IOUs objectively present personal credit status through cloud computing, machine learning, 360 big data and other technologies. According to the comprehensive consideration of credit risk, payment habits, consumption situation, etc., different consumption quotas are granted to users.
The application quota for 360 IOUs is granted based on the user’s accumulated consumption and repayment behavior on the platform. The various behaviors of the user on the platform are dynamic and change, and the corresponding quota is also dynamic. When the user behaves well in a period of time , And in line with the quota increase policy, the corresponding quota may be increased.
The advantages of 360 IOUs are embodied in the large number of users and high activity, massive user credit data and behavior data, advanced Internet technology, convenient experience, and professional and high-quality team.
360 Group has more than 500 million PC users and more than 700 million smartphone users, and the user usage rate is high. According to third-party statistics, 360 ranks first in mobile security products, PC browsers based on user usage time and Android mobile phone application market operations.
As an Internet security company, 360 takes data-driven security as its core competence. In the field of big data, it has massive user credit data and behavior data, outstanding talent reserves and technical accumulation, and has been recognized by international evaluation agencies many times.
The 360 IOU also actively uses modern Internet information technology to combine advanced face recognition technology with big data approval models to enhance user experience. There is no need for any tedious operation of the customer, the face shooting and comparison process is completed in 5 seconds, and the face scoring application is combined in the background to lock the true identity of the customer on the basis of other credit investigation methods, which can bring customers a more efficient experience .
At the same time, 360 IOU has established strategic partnerships with many licensed financial institutions.
As one of the largest Internet security companies in China, 360 has a domestically leading high-level security technical team. Based on this, it has introduced a number of large financial institutions such as Ping An, China Merchants Bank, Bank of Communications, and Wechat Bank, who have been deeply involved in the financial industry for many years. Senior staff.
Risk prevention and control
The 360 IOU has sound security technology and big data risk control technology, and has taken multiple measures in terms of security assurance and risk prevention and control:
1) Establish user credit profile. 360 IOUs are based on sufficient social network relationship data to establish a credit information system, which will sort out the credit behavior profile of each user and classify the user’s credit limit.
2) Establish a social behavior model. The 360 IOU establishes a credit score calculation system based on the user’s social circle, and uses the user’s personal connections as a reference for credit rating.
3) Establish a whitelist and blacklist system. Open a green channel for credit-quality users, and on the other hand, provide blacklist user inquiries to prevent users from repetitive applications, non-personal applications, false information, etc., to prevent gang fraud.
4) Leading safety technology. Relying on 360’s leading cloud security system, 360 IOU multiple technologies protect users’ data security, privacy security, and account security.
5) Professional and high-quality team. 360 has a domestically leading high-level security technical team and a risk control team from a large domestic financial institution.
360 Finance 360 Finance (QFIN) History:
- In May 2015, 360 Financial Services was established
- In July 2016, 360 Financial Services established 360 Financial Group
- In September 2016, 360 IOU products were launched
- In September 2018, 360 installment and 360 small and micro loans were launched-360 Finance, which is operated independently by 360 Finance Group
360 Finance 360 Finance (QFIN) Prospectus:
- As of September 30, 2018, 360 Finance has accumulated 6.4 million borrowers, with a cumulative loan of RMB 94.4 billion (US$13.7 billion) and an outstanding balance of RMB 34.3 billion (US$5 billion), a compound quarterly since the fourth quarter of 2016 The growth rates were 97.0%, 115.6% and 94.9% respectively.
- For the year ended December 31, 2017, 360 Finance’s net income was RMB 309.1 million (approximately US$45 million), compared with RMB 60,000 from the company’s establishment to December 31, 2016.
- For the nine months ended September 30, 2018, 360 Finance’s net income was RMB 1.385 billion (approximately US$201.7 million), compared with RMB 74.4 million in the same period in 2017, a year-on-year increase of 1,762.4%.
- For the year ended December 31, 2017, 360 Finance recorded a net loss of RMB 166.4 million (approximately US$24.2 million), compared with a loss of RMB 21.8 million from the company’s establishment to December 31, 2016.
- For the nine months ended September 30, 2018, the company recorded a net loss of RMB 469.3 million (approximately US$68.3 million), compared with a net loss of RMB 171.8 million in the same period in 2017. Excluding the impact of equity, the adjusted net income for the nine months ended September 30, 2018 was RMB 60.7 million (approximately US$8.8 million) (because in April 2018, the company’s Cayman Islands holding parent company 360 Finance , Inc. can only issue options to employees after the establishment.).
360 Finance 360 Finance (QFIN) investment:
360 Finance 360 Finance, Inc. (NYSE: QFIN) plans to land on the NYSE on 12/14/2018 with an issue price of
US$ 16.50-18.50 , issuing 3.1 million shares and raising US$54.3 million, Citigroup/ Haitong International/ AMTD/ Joint underwriting by Lighthouse Capital.