Epitomizing China’s Skyrocketing Consumer Finance Sector, Mashang Has Come Along to Celebrate Its Fifth Anniversary

NEW YORK, NY / ACCESSWIRE / July 13, 2020 / As China’s consumer finance sector has entered blooming stage, thousands of players are vying for a place in this market, from which Mashang Consumer Finance (or MSF) has risen as a licensed institution.

June 19 is the anniversary day for MSF, who has turned 5 years old already. MSF is a tech-driven consumer finance company regulated by CBIRC. It has made dazzling achievements in developing closed-loop capabilities by merging its financial business with technology. Numbers show that MSF has captured already over 100 million users, issued a total amount of over 400 billion yuan of loans, created 2000 plus jobs, paid altogether 2.503 billion yuan tax. MSF has partnered with over 200 other financial institutions and 1 million merchant shops, creating a wide-scope and fully open eco-system.

Consumer finance is founded on real economy, and it is not the castle in the air. Consumer finance is able to resolve the pain point of the target customers’ demand with such advantages as small ticket size, flexibility and convenience, enormously improving their customer experience and well-being. Said Mr. Zhao Guoqing, the founder and president of MSF.

Financial inclusion is engraved in MSF’s gene. Up until now, MSF has served 37 million customers from rural areas, with the total transaction amount being over 170 billion yuan; apart from this, over 44 million customers from all counties are also MSF’s targeted customers, with the transaction amount totaling 240 billion yuan, therefore over 6 million credit records have been created out of its service.

This string of numbers embodies our perseverance for financial inclusion. Benefiting the universal public has always been a dream and MSF has realized it by continuous investment in technological innovation.

For the past five years, MSF invested a staggering lot in big-data, cloud computing, block chain, bio-recognition, and AI. These technologies are visible at every procedure of its business process. They help MSF lower its cost at capturing customers and well control the risk. These technologies, on one hand, improved the efficiency of financial services, and laid foundation for technology exporting on the other.

MSF, with over 1000 IT developers, has declared 220 patents and created 800 major systems so far. Besides, two risk control researches conducted by MSF have been awarded the first prize by CBIRC among non-banking institutions. In February this year, MSF had been recognized as national high-tech firm. It is worth mentioning that only a few financial institutions in China have gained such recognition.

MSF has earned a great number of honors, but never will it stop. According to Mr.Zhao Guoqing, MSF will keep the property right of major technologies at its hand, increase investment in R&D, and constantly put research results into practice, in an attempt to empower the real economy and improve people’s livelihood.

In retrospect of the past five years, Zhao thought highly of the way that MSF forged ahead with entrepreneurship. Consumer finance is a sector full of competition, and entrepreneurship can better fit in its course of development. It brings flexible execution, higher morale and better value. And these are the elements that bring about quality products to win over the recognition from the market and the customers.

Zhao emphasized that MSF will stay true to the mission. MSF will continue to improve its closed-loop capabilities, embrace digitalization, keep itself open and compliant, and prioritize risk control, dedicating itself to building a private enterprise that is able to shoulder more social responsibility.

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