Disscussion On The Transformation Of P2P Lending Platform—Taking Renren-loan As A Case

The birth of internet finance has effectively solved the problem of uneven allocation of funds between supply and supply.In recent years,with the help of the Internet's technological innovation and network platform,P2 P micro-network borrowing has developed rapidly.This has solved the problem of funding requirements for low-income groups and SMEs and has become a new type of financial model for resource allocation.P2P Internet lending is an important part of internet finance.The development in our country in recent years can be described as "advancing in twists and turns".In order to adapt to China's great environment,network borrowing was introduced into China at the beginning,adding many localized Chinese characteristics,such as the security and online + offline business model.In the context of China's rigid payment,the existence of guarantees can better dispel investors' concerns and allow them to quickly accept such new things;the online and offline business model is designed to make China's credit system less sound.Under the circumstances,strengthen the information review of the borrower and control the risk at the front end.With the popularization of Internet technology and the blessing of these two factors,P2 P network lending has been rapidly developed in China.However,due to the absence of corresponding development regulations and regulatory policies as guidelines,it has exposed many problems in the process of rapid development.A large number of platforms were closed down,difficulties were raised,and the funds ran.This caused great losses for investors and caused fluctuations in the financial markets.The online lending industry urgently needs standardized supervision to carry out rectification.Under the background of the chaos of China's P2 P online loan platform and the frequent occurrence of new regulatory regulations,how should the P2 P online loan platform be transformed and how the transition effect is effective? This will have certain reference and practical value for the future development of China's public online loan platform.Therefore,this article attempts to take Renren Loan as a case to analyze and think about the transformation status.First of all,it analyzes the transformation background of Renren Loan,and then points out the problems existing in the development of Renren Loan and what measures are taken by Renren to transform it.The transformation path forRenren Loan includes: active disclosure of information;co-funding with Minsheng Bank;separation of P2 P business and wealth management platform;cancellation of risk reserve system and completion of de-guarantee.Through the transformation made by all Renren Loan and the situation after the change,at the same time drawing on the experience of foreign mature P2 P online loan platform,we will explore a transitional development path that suits our national conditions.In order to provide insights for P2 P lending institutions currently in transition,we will promote the development of P2 P microfinance,provide more financial services to users that cannot be covered by traditional banking,and improve financial services.The generalized nature of the system has improved China's financial financing system and contributed to economic development.