Chasing Subprime Credit

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In China, credit is booming, so is subprime credit. Instead of disrupting the banks, fintech is energizing the subprime credit sector while helping the banks.It is a chaotic scene, causing headaches to the government and much harm to investors and borrowers alike. The regulatory stance is full of intrigue. But things are not all negative.If fintech can enable all subprime borrowers to access credit cheaply, safely, and cost-effectively, all the chaos and trouble will have been worthwhile.For decades, China's subprime sector has been the plumber for the banks. Fintech is now adding some sharp tools. If the two can work together well, the banks will be much safer, and more profitable.This book explains how the major players are doing it, and why there are risks and rewards for us all.