Renwohua, a Fin-tech company which can help young generation get money with credit data. It was born in 2016, the year was known as the “Science and Technology Year”, “the first consumer finance year”. The vision of Renwohua is to use technological power for each Chinese young person to get his or her credit data, so as to encourage people to cherish their credit, help those having good personal credit enjoy high-quality financial services and achieve their personal dreams.
Based on the conviction of letting each youngster enjoy high-quality financial services, Renwohua independently researched and developed “Piercing Eye” big-data financial risk control system a year after its establishment. With “Piercing Eye”, risks can be accurately identified and risk report will be made for each borrower. Those with higher reliability scores tend to have better personal credit. People with better credit can enjoy lower interest rates and more rapid financial services.
Internet credit ecosystem is becoming the “soft infrastructure” in the era of data. and the “reliability credit reference” will be used in diverse consumer scenarios like micro-entrepreneurship, training, tourism, medical cosmetology, rental, shopping, etc. It will be involved in all aspects of life experience and seemingly “virtual” credit score is bringing more benefits and convenience…
Different from the personal credit system of the United States which is perfect, in China, young people having never dealt with banks are still in a blank credit status. On the other hand, China’s mobile payment and online consumption are far ahead of that in the global market and the concept of moderately advance consumption is being widely accepted. How to evaluate the risks of young people without abundant credit information has become primary problem of phased consumption.
Like ZestFinance, drawing on the FICO scoring model of the US financial technology company, Renwohua introduced a risk management system ”Piercing Eye” suitable for China: make a complete data analysis of lending users with access to nearly 50 data sources and draw a user credit portrait based on 8 main behavior data and hundreds of dimensions; build a risk system through multi-channel and multi-dimensional cleansing of mass data such as user’s communication data, network blacklist data, travel data, electricity consumption data, social relations data, etc, which overcomes the limitation of model consideration in traditional credit assessment and makes forecast more detailed. Renwohua’s automatic intelligent risk control system covers the whole process from the acquisition of assets to capital linkageand even user experience. The fastest loans only take seconds. Itcontributes to a very good user experience.
Science and technology is changing the life of everyone in a subtle and silent way. Jake, the creator of Renwohua said, risk control is only to stop the bad instead of discouraging the good. Since the debt financing itself is to earn the risk money, the ultimate goal of risk control is to give maximum loans to those deserving it and lend no penny to those unable to afford it. The big data processing and the capacity of financial technology R&D of Renwohua provide all types of partners with a set of intelligent solutions to whole procedures of credit problems. It devotes itself to changing the status quo of China’s credit services with science and technology so that those 80% people who have no financial services experience before, as well as every young person have the opportunity and rights to access to financial support. Inclusive Finance makes people of integrity valuable and people of faith rich so that even Integrity people who have no money still can travel around the world.
This is in concordance with the conviction of ZestFinance, namely to explore credit for consumers, to promote the development of Inclusive Finance with the power of science and technology and to break the vicious circle that credit institutions work for the rich exclusively. Renwohua is most likely to become the technology company of Chinese version of ZestFinance.
Company Name: Renwohua
Contact Person: Jake