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Big data credit information enters the shuffle period, and the blockchain may become the underlying architecture of a new generation of credit information system

Time : 20/10/2021 Author : 3mv0kw Click : + -
        Previously, Wang Lu, deputy director of the credit investigation center of the people's Bank of China, said in public that under the situation that the current credit investigation system has seriously lagged behind the needs of economic and financial development, these drawbacks should be highly valued and effectively solved, so as to promote the smooth progress of the construction of the credit investigation system and reduce economic and financial risks. The phenomenon of misuse of data reflects the urgent demand of the industry for the personal credit market. With the establishment of the Bank of credit and the heavy crackdown of the supervision, the big data credit industry, which has been growing savagely for several years, has entered a reshuffle period. "Crawler technology plays a role in boosting personal privacy and data abuse. However, it also reflects the market's demand for personal credit data from another perspective.
        ”Liu Xinhai, a researcher of the financial intelligence research center of Peking University, told China business news. At present, the abuse of data in the industry is serious. Liu Xinhai believes that data abuse can be mainly classified into three categories: first, too much data is collected without the consent of consumers; Second, illegal purchase and data reselling; Third, crawler technology acquisition. Before that, the consumer finance field had been the disaster area of information leakage, and the phenomenon of reselling data was quite serious. For example, when applying for a loan on the mutual fund platform, users need to fill in the phone number, identity information, bank card and other information, as well as the consumption bills of credit cards, vehicles, provident funds, and even online shopping platforms such as Taobao. These data are often used by data suppliers for resale.
        In the mutual fund industry, the cost of obtaining consumers' data by mutual fund companies accounts for a high proportion of the operating costs, which causes many P2P and other emerging lending platforms to spend too much on purchasing data to prevent fraud and reduce risks. In addition, due to the dispersion of market data, mutual fund companies often purchase data in batches, and then integrate them to form their own credit data source. "After the national security law and the judicial interpretation of the Supreme People's court and the Supreme People's Procuratorate were issued last year, the phenomenon of reselling and buying personal data has been alleviated to a certain extent." Liu Xinhai said. The network security law of the people's Republic of China, as the basic law in the network field of China, clearly strengthens the protection of personal information, combats network fraud, and combats industrial chaos.
        The law stipulates that no individual or organization shall steal or obtain personal information by other illegal means, or illegally sell or illegally provide personal information to others, and stipulates corresponding legal liabilities. In terms of crawler technology, Liu Xinhai believes that the reason why crawler technology is widely used in the Internet finance industry is mainly due to the urgent need for P2P and other Internet finance companies to conduct credit evaluation on borrowers to prevent fraud. "Web crawler is a technology used by mutual fund platforms to obtain information and data of borrowers, but sometimes this behavior is not compliant. For example, there is a & lsquo; interbank crawler & rsquo; product in the cash lending industry, which can directly crawl the loan amount and risk control data of other cash lending platforms, which is equivalent to other platforms helping you to do risk control.
        ”。 Liu Xinhai said that the real risk control technology needs to invest people and time, and needs to pay a certain price to buy lessons. At present, many companies have said that they have increased investment and research efforts to improve the level of risk control. However, from the perspective of industry and technology, the risk control technology of mutual fund industry is still relatively backward on the whole. The main problem is that the demand for consumer financial services is too urgent. "As long as the company does a good job in marketing and solves the problems of fraud and customer acquisition, it can make money. Why do you spend a lot of time on risk control? This is a contradiction in the industry. According to the actual situation of the mutual fund industry, risk control did not play a key role in the profitability of mutual fund companies (especially cash loan companies) in the past.
        ”。 The credit system and technology are closely linked. Under the background of the rapid development of big data and artificial intelligence technology, how to promote the construction of the credit system with technology is also a challenge facing China's credit market at present. According to the introduction of Liu Xinhai, credit information is originally "imported" for China, and there are many market-oriented companies participating in and developing channels. In developed countries in Europe and America, credit reporting infrastructure and financial system develop gradually and synchronously, while in China, economic development forces the development of credit reporting system, which is a leap forward development. On the other hand, a single credit reporting model can no longer meet the current market situation of active consumer economy and strong demand, so it needs to solve this demand through other channels. Therefore, some market-oriented Internet companies and big data companies also want to participate in the infrastructure construction of the credit reporting system.
        Compared with mobile payment, the construction of personal credit system in the Internet era will bring deeper changes to the market economy. For Internet giants, the construction of personal credit system can become the entrance to a new economic form. Under this background, some Internet companies have launched credit sub businesses. How to ensure fairness and justice and protect consumers' privacy in the process of giant's participation in the construction of credit information infrastructure is an important issue in the construction of credit information system. On February 22, the people's Bank of China issued the first personal credit investigation license. The application of Baixing credit investigation Co., Ltd. to establish a personal credit investigation agency has been approved, and the personal credit investigation license is valid for three years. The main purpose of the establishment of this platform is to include the credit data of individual customers not covered by the central bank's credit investigation center, build a national level basic database, realize the information sharing of the industry, and effectively reduce the risk cost.
        Previously, Tang Lei, deputy general manager of vipshop finance, told the first financial reporter that the prominent problems in the development of the whole industry at present are the fragmentation of information and the emergence of "information islands". All institutions regard information as their core assets and are unwilling to share it or the information data they share are distorted, leading to the continuous occurrence of personal multi borrowing, excessive borrowing and fraudulent lending; Second, as the concept of big data credit investigation has become more and more popular, there are cases of over collection or unauthorized collection of personal information in the name of personal credit investigation. The establishment of Baixing credit bureau may be able to effectively solve the problem of "data island" in the field of consumer finance, and also clear up the confusion of data trading.
        However, there are doubts in the industry about whether the "old eight" are willing to share data after taking shares in baihang credit investigation. So, how to create an information sharing platform that effectively breaks the data barrier?. "I think that the credit information sharing platform of the mutual fund association will become the main source of credit information in the future. In the end, the bank may not need the data of eight credit information companies, because they do not want to take some data and can not take it out." A person close to the central bank told China business news earlier. He pointed out that there are inclusive standards for credit data, and data within a certain dimension will be included in the credit data. For example, an individual's credit history, credit data needs to be matched to each person, personal identification information, and a clear boundary.
        However, the 8 institutions approved by the central bank to "prepare for the establishment" of personal credit business were not limited to the traditional credit data dimension due to the wide data dimension. Therefore, once the dimension is narrowed according to the credit data standard, the financial ecosystem of the institution will be affected. From the perspective of technology, blockchain technology may solve the problem of distrust among institutions. Han Han, director of cloud computing and big data Research Institute of China Institute of information and communications, said: "The credit field is one of the application scenarios of the blockchain. On the one hand, information sharing with the blockchain is transparent, and institutions can see what information they share with each other, which makes them feel at ease. On the other hand, the blockchain technology can accurately record the credit you share, account the market itself, and set different incentive mechanisms and operation modes to achieve information sharing.
        ”。 In addition, in terms of preventing data leakage, Liu Xinhai believes that the distributed and multi constraint characteristics of the blockchain pose great challenges to hackers. "The identity information is stored in the blockchain, and the security of the system will be strengthened. At the same time, since all behaviors are reflected on the chain, the quality and authenticity of the data are also guaranteed. Blockchain technology may be an option for the underlying architecture of the next generation of credit information system in the future." However, he also pointed out that how to improve the processing efficiency of massive credit data is also a problem in the practical application of blockchain technology.
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