Efficient use of financial technology in consumer finance companies
List of Authors
  • Feras Fathi Albdiwy , Tao Lanju

Keyword
  • Fintech; Consumer Finance; Risk Management; Operational Efficiency; Financial Technology Integration

Abstract
  • With the rapid advancement of China's economy, the demand for consumer credit has surged, driven by diversified consumption scenarios and product categories. Consumer finance companies, alongside traditional commercial banks, have become pivotal in meeting this demand. The integration of financial technology (fintech) into the consumer finance sector has revolutionized the entire business process, encompassing pre-lending, lending, and post-lending phases. This study explores the application and impact of fintech on consumer finance companies, focusing on customer acquisition, risk management, and operational efficiency. Additionally, the study addresses the emerging risks associated with fintech, such as technological black boxes and algorithmic biases, which pose new challenges for risk management. By analyzing the fintech-enabled business processes and risk control mechanisms, this paper provides insights into optimizing fintech applications to enhance efficiency and mitigate risks in consumer finance companies.

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