Consumer Finance Outsourcing Contract Design Research Of Bank Under The Environment Of Internet

Developing comsumer finance is an important measure to adapt to China's economic transition and to reduce the external vulnerability.At the present stage comsumer financial services institutions mainly includes banks and financial technology company(FinTech).Banks mainly serve the high income customers because of the low cost and the big amount of capital.Financial technology companies grab the "long tail" customer market opportunities based on big data technology and massive amounts of customer resources.With the further advance of financial disintermediation,Banks need transformation.Small customer market has become the important strategic decision in the transformation of development.The low cost of capital owned by banks and the big data inquiry technology owned by financial technology companies are the foundation of cooperation based on comparative advantage.Using layer research train of thought and the qualitative analysis,discussion of modeling,quantitative analysis and other methods,this paper follows the loan process to discuss the banks' consumer finance loans outsourcing contract design before and after the examination and approval so that Banks can properly choose outsourcing partners and the optimal compensation schemes.First,this paper established a bank consumer finance loans outsourcing contract before examination and approval of the principal-agent model to study the bank loan approval rights allocation mechanism and the optimal revenue sharing mechanism.We found that bank should determine the distribution of the loan approval rights according to the financial technology company and bank loan decision-making deviation,and decides the optimal revenue sharing percentage according to their risk tolerance,and consider the impact of the borrower and consumer goods businesses on financial technology company lending decisions.Then,in the post-loan management stage,this paper constructed the bank consumer finance post-loan management outsourcing contracts commissioned-agent model considering the financial technology company's risk attitude and discussed the loan amount and the optimal compensation mechanism under different risk attitude.In this model we found that Banks can set fully reward and punish compensation mechanism in the face of risk neutral financial technology companies to motivate the high effort level post-loan management of the financial technology company.But Banks need to set a more flexible mechanism of rewards and punishments Face the risk averse financial technology companies.In addition,in the model development,we took into account the post-loan management phase of the borrower loan decision-making behaviors in financial technology company.All in all,this paper provides a certain theoretical reference for the establishment of contract for bank consumer finance outsourcing based on bank Angle.