Regarding P2P technical issues, what are the current problems with P2P

Answer]: First, shareholders, directors, and management are three-in-one, and there is a lack of internal control (a set of shareholders, directors, and management), and a lack of internal supervision mechanism; second, the risk control ability is insufficient, and there are many bad debts; the third is the lack of transparency and the avoidance of core issues (the core issues mainly refer to the transparency of the platform's bid issuance); Fourth, the common performance before the problem, short-term standard, high interest rate, high reward (the platform quickly self-financing and self-help in this way). Wheel withered paulownia.

At present, the problem platform is mainly based on the grassroots small platform, but the large platform also has one kind or another problem. Fang Song said bluntly.

Fang Song said that as far as the overall situation of the industry is concerned, there are a series of problems such as capital pooling, self-guarantee, insufficient information disclosure, and insufficient risk control capabilities.

Now the development is better, the more defeated platform, the establishment time is relatively early, at that time there was no fund custody, and the third-party payment has not yet provided fund custody products. In the early days, most of the platforms were pooled models. This industry has also come out of chaos, and it will be a long process to change this model.

At the same time, investors are accustomed to the platform guaranteeing principal and interest, and it is also a painful process to change. Fang Song said. "In addition, people are accustomed to reporting good news and not bad news, and generally say that their assets are of good quality, but this is certainly not the case.

In the future, it will not be easy to expose one's own scandal in information disclosure. Moreover, the construction of P2P risk control is not established by one or two clicks. There is also how to deal with and digest overdue and bad debts, which is also a problem that is not easy to solve. ”

As a foreign product, P2P financial management has been landing in the mainland for almost seven years, and the rapid development during this period can hardly hide the various problems behind it, including internal factors and external environmental problems. Next, I will talk about the five fatal problems in the P2P online lending industry.

1. Internal factors.

1) There are natural flaws in the organizational structure.

The risk control department is the core department of the P2P platform, and different risk concepts will lead to different risk awareness. Some P2P platforms are only good at marketing and not good at risk management, which will bring great risks to investors. Secondly, the professionalism of the employees of the P2P financial management platform is uneven, which is also a common phenomenon of the current P2P platform.

2) Lack of experience in risk management.

The risk control methods of China's P2P wealth management platforms are nothing more than a few tricks, such as on-site inspections, requiring borrowers to submit collateral, introducing guarantee companies, and paying risk reserves. Each P2P wealth management platform does not have a dynamic risk assessment system and risk quantification indicators, which leads to excessive risk management methods, which are scattered, simplified and unsystematic.

3) There are vulnerabilities in the IT system.

Since 2013, many platforms have been attacked by hackers, and the root cause is that the platform's technology is not strong enough. The hacker's attack can lead to paralysis, theft of customer information on the platform, and endanger the security of investors' funds. Unfortunately, many platforms currently lack a reasonable response to hacker attacks.

2. External factors.

1) The mainland's credit reporting system is not comprehensive.

China's personal credit system is still in its infancy, and without a unified information query and review system, P2P online lending platforms cannot access the credit system, which makes the loan quality and efficiency of P2P platforms a serious threat. For example, there have been recent cases of borrowers taking collateral and applying for loans on different platforms.

2) The legal system is not perfect.

At present, the state has not formulated special laws and regulations for P2P wealth management platforms, and the legal standards of the P2P industry can only be based on the existing "Several Opinions on the Trial of Lending Cases by the People's Courts", which has led to the current situation of fishing in troubled waters.

There are three main problems faced by P2P: (1) First, transactions are carried out entirely on the Internet, due to the small amount of a single loan, the P2P platform lacks an effective and low-cost method, and conducts risk assessment of the borrower's qualifications one by one, and the probability of default is not as low as imagined, and even some platforms advertise zero risk.

2) Second, similar to the model of pure credit loans, investors and platforms lack substantial default prevention and protection for borrowers.

3) Finally, at present, there is no proper supervision of the platform itself, and in the event of a serious loan default, the platform itself may go bankrupt, and in fact, there has always been a situation where the P2P platform has run away.