Lessons from China’s Peer-to-Peer Lending Boom
In this episode of our series on financial technology, we sat down with Ning Tang, founder and CEO of CreditEase. Ning has been a leader in the development of China’s peer-to-peer (P2P) lending industry and has a unique perspective on the development of fintech worldwide.
Some of the key takeaways from our conversation with Ning include:
- P2P lending in China has helped borrowers overlooked by traditional financial institutions.
- Many Chinese fintech firms were initially reluctant to share information, but data sharing has turned out to be a benefit for the entire industry.
- As the industry has matured, banks have become essential partners for P2P firms.
- A combination of traditional and alternative data sources work best for making credit assessments.