Research On The Operation Mode Of P2P Network Lending Industry

With the rise of Internet finance,P2P network lending,as a new way of borrowing and lending,has emerged.However,with the rapid development of the industry,a series of problems have also been exposed.In this context,it is particularly necessary to study the operating mode of the current P2P network lending platforms,as well as to dig out the hidden risks and take corresponding measures.At the same time,the regulatory authorities also gradually realize the problems showed in this emerging industry recently,they’re taking steps to standardize and improve the regulatory system,and to accelerate the rectification process of the industry.All these make the study of P2P lending industry more significant and valuable in practice.Starting from analysis of the present situation of P2P network lending industry of our country,this paper divides the main operation mode of P2P lending industry into following patterns according to the different dimensions:pure online mode and online&offline mode,pure intermediary mode and debt transfer allowed mode,no guarantee/mortgage mode and guarantee/mortgage mode.In addition to the pattern classification,the paper also summarizes and analyzes the main characteristics and shortages of these various modes,namely the default risk of contract caused by the imperfection of personal credit system,the lack of information disclosure,the risks hidden all through the whole operation process,especially the huge risk caused by the assignment of disassembled claims and over leveraged deals,and the risk of account security.On this basis,the case of Lufax of Ping An Insurance(Group)Co.of China Ltd.,is introduced.The characteristics,business process,profit mode and risk control mechanism of Lufax are analyzed comprehensively.Through the case study,the paper try to provide some possible measures to solve the problems above,based on the experience of Lufax.