Research On Customization Mode Of Internet Financial Products Based On Demand Driven

Since the government vigorously advocated the initiatives of "Popular entrepreneurship and innovation",the number of small and micro enterprise has been greatly improved.Its survival and development has brought fresh blood for China's economic reform and progres s.However,as the characteristics of small business scale,light assets,lack of pledge and risk of operation,the small and micro enterprise has unique financing demands.Considering the risk control and scale economy considerations,traditional financial institutions often cannot provide personalized products for these enterprise,which results in credit rationing.On the other hand,with the advantages of information technology,Internet finance eliminates time and regional restrictions and can gather demand information quickly.It can bring private free capital together with lower cost and broader sources to provide customized products for small and micro enterp rises.However,the small and micro enterprise net loans provided by the internet financial platform tend to be homogenous,because of the single product supply model.It cannot reflect the individualized characteristics of corporate financing needs in all dimensions of loan products.In order to improve the financing efficiency of the platform and optimize the structure of borrowers for small and micro enterprises,it is necessary to explore the customization model of online loans driven by the needs of small and micro enterprises.In this context,based on the review of Internet financial,product customization,and financing theory,it analyzes the customization mode of Internet financial product from the main elements,modes and operation process.Then,combining this customization mode with the real economy,to analyze the small and micro enterprise network loan customization mode.The findings are as follows:(1)The operating mechanism of customization mode of small and micro enterprises' network loan include aggregating potential trading partners,finding the homogenization boundary of demand,assessing risk,adding individual requirements.The financial platform determines the “homogeneity boundary” of its financing needs based on the large amount of demand information provided by small and micro enterprises.Then,it uses big data technology to provide customized “templates” for the small and micro enterprises.With these “templates”,the financial platform can obtain relevant information such as loan amount,loan term,and endowments of enterprises' resource structure.Finally,the financial platform can evaluate the risks of small and micro enterprises with the information obtained,determine loan prices and provide personalized products.(2)Through Logistic regression analysis of the loan targets for 2015,which selected from “Renren Loan”platform.We found that the variables include the borrower's age,marriage,education,income,economic area,flow condition,total amount of the bid,which have a significant effect on the loan default rate.(3)It calculates the risk price of the recent target on “Renren Loan” Platform.Comparing the pricing result with the actual interest rate,and founds that the risk pricing model based on cost is applicable to internet financial lending which is a seller market.At the same time,compared with the current price of online platforms,the risk pricing model based on cost considers the credit risks of small and micro enterprises in all aspects,and can better differentiate the financing needs of it.Finally,it provides suggestions to improve the network loan of Internet financial platform: Enhancing the ability to collect information on loan demand;Building online loan pricing mechanism based on cost;Paying attention to diversified personnel training and introduction,establishing a professional online loan customization team.