Shanghai, July 18- “Financial technology (Fintech) is never a challenge to the traditional finance, but a supplement and upgrade,” VCredit’s founder and CEO Liao Shihong announced to provide professional intelligent credit service for many financial institutions in near future with customized intelligent robots.

Lendit Summit, the world's most influential fintech summit, kicked off yesterday in Shanghai. It is understood that this is the first time for Lendit to hold summit in China, with more than 80 international guest speakers and domestic opinion leaders sharing their thoughts on the latest trends of fintech during the two-day summit.

Highly developed mobile Internet technology and massive customers with financial needs make China become one of the world's largest consumer finance markets. Liao Shihong noted that the huge amounts of data generated by developed Internet technology also lay a solid foundation for the realization of the intelligent risk control.

“VCredit now has eight smart financial products, providing fully automatic 7*24 hours of high-quality financial services for millions of people through the mobile Internet,” Liao introduced “Robot Lending” patterns in a keynote speech with the theme of Smart Dredit’s Practice in China.

“Like AlphaGo, VCredit’s lending robots can realize the integration of high dimensional data through algorithm and provide accurate prediction of future behavior,” Liao Shihong told reporter from Eastday.com that their goal is to become an AlphaGo in consumer finance sector.

Behind lending robots is Hummingbird Cloud Risk Control System by VCredit’s independent R & D. It was introduced that the system, through 8 big engines including rating, decision-making, data-collecting, machine-learning and intercepting, can realize four modules’ functions- identity verification, cheat-proof, risk quantification and debt ratio calculation.

“All of these will proceed on the mobile Internet and intelligent terminals,” Liao pointed out that smart credit has higher operating efficiency than manpower and better performance in terms of risk quantification with the constant improvement of the data model. Besides, there will be further ascension of smart credit in the future on preventing fraud risk.

In the past two years, scenarized consumption has become an important layout for major financial platforms. Some companies, like BAT, are giving full play to their own advantages, integrating resources and making efforts in various fields related to consumer scenarios. Liao revealed that VCredit has set their lending robot in multiple scenarios such as China Telecom, China mobile and Wanda 99bil.

“VCredit should be among the first companies to provide scenarized services,” Liao Shihong took their smart finance fist product kkcredit as an example that customers can scan the QR code on the returned documents after credit card consumption to conveniently enjoy kkcredit’s service of compensatory loans.

“Artificial intelligence makes consumer finance full of imagination. Not only online scenarios, we can also get through both online and offline scenarios,” Liao confirmed that robot lending will provide much more convenient and accessible financial service in the near future.