Anatomy of a Fast Growing P2P Fintech Disruptor in Emerging Asia
Anatomy of a Fast Growing P2P Fintech Disruptor in Emerging Asia with YewKiat Phang of China Credit. Moderated by Emmanuel Daniel of The Asian Banker. Recorded at LendIt USA 2017. The China market is bigger than the US and they tend to move much faster; Emmanuel Daniel of The Asian Banker compares China today to 1971-1984 in the US when regulation was just beginning to be put in place; Credit China is an example of a successful P2P lender in China, now valued at $3 billion; Yew Kiat Phang speaks about the company, sharing how they initially were a traditional lender, constrained by capital and customers with single revenue streams; the company took a broad approach to fintech, first obtaining a third party payment license; company reported $12 billion in 2016 on their P2P lending platform; their payment gateway saw $30 billion in flow for 2016; Yew Kiat Phang shares other details on the company in the video.