FORBES interviews Zane Wang, Chairman of China Rapid Finance about the opportunties and limits in using " Big Data" in Credit Decisioning
DLB Capitals China Rapid Finance Investment Unveils Strategy to Serve the Lifetime Credit Needs of 500 Million Individuals
March 30th, 2016 Home News, News, Press
Company Seeks Maximum Diversification of Data Channels to Reach Emerging Middle Class
BEIJING, March 30, 2016 – China Rapid Finance Limited (“CRF” or the “Company”), a leading online consumer lending marketplace, unveiled its strategy to expand its services to the 500 million people who are underserved by the nation’s financial institutions.
The Company aims to bring consumer credit to the nation’s emerging middle class and is defining a new category of customers, Dr. Zane Wang, the Company’s CEO, said at a press conference in Beijing today. Of China’s 1.4 billion people, the central bank database as of the end of 2014 covered around 800 million, of which roughly 300 million people had credit records. That leaves about 500 million people who can’t borrow money from traditional financial organizations....read more