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Niwodai Cumulative Transaction Loan Volume Exceeded 50 Billion Yuan

  May 18, 2017  

An oligopoly of sorts in the P2P lending industry has emerged - Niwodai announced that cumulative transaction loan volume exceeded 50 billion for the first time.

Headquartered in Shanghai, this well-known online lending platform managed to boost the total loan volume from 40 billion yuan to 50 billion yuan in less than five months.

Despite the tightening of rules and regulations around P2P firms in 2017, more investors still chose to enter the industry. In April 2017, the number of active investors in the online lending industry reached 4.05 million, compared with 2.98 million in April 2016, an increase of 36 percent year-over-year, showing a steady upward trend.

According to the data disclosed by, a third-party news outlet in the lending industry, the number of existing operations of P2P platforms dropped to 2,214 as of April 30. A total of 3,676 platforms were suspended or closed over the year. As of mid-May, among the 2,214 platforms, only 16 platforms had accumulated more than 50 billion yuan in overall transactions - the era of P2P oligopolies is approaching.

Founded in June 2011, Niwodai aims to provide efficient, transparent, secure and convenient Internet financial services for small and micro entrepreneurs or individuals with financing and investment needs.

It took more than four years for Niwodai to achieve 10 billion yuan in total loan volume, and it took 100 additional days to reach 20 billion, and less than a year or so to reach 40 billion. After six years of development, investors have earned more than 4.5 billion yuan through Niwodai's platform. Niwodai has served about 600,000 borrowers and has become one of the largest online lending platforms in China.

Niwodai always adheres to the principle of "small amount for diversification." Niwodai follows government regulations regarding risk control and compliance. The platform strictly obeys the 200,000 personal loan limitation and timely discloses all necessary information to ensure transparency. At present, Niwodai's average loan amount is 27,100 yuan per person.

Dinggui Yan, the founder of Niwodai, once said that the reason why Niwodai is so popular among borrowers and investors is because of three risk defense mechanisms. First, divide the user group. If a person falls into a category that has high risk, even the loan can bring profits to the company, the platform will not approve the loan. Second is the use of big data credit to audit the borrower's credit. Niwodai has established cooperative relations with several credit agencies in the market to conduct multi-dimensional audits to exclude potential users with high risks. Lastly, establish a strict internal control mechanism. As early as 2014, Niwodai established an internal control compliance department to prevent systemic fraud and irregularities.

A few years ago, Niwodai put forward the concept of credit workshops. To build a credit workshop, it relies on the construction of a big data system, a data collection and integration system and a risk quantification system. A risk quantification evaluation system is constructed to classify users, identify risks and quantify risks. Through machine learning, the data can be extracted, stored, pre-processed, modeled, evaluated, and monitored.

Niwodai uses facial, voice, fingerprints, and biometrics to confirm the authenticity of a customer's identity and to counter fraud and identity verification, thus speeding up the efficiency of traditional face-to-face signatures. More than 95 percent of loans on Niwodai's platform are automatically approved by its credit system. Borrowers can receive the results within minutes after they submit the application.

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