Perseverance
Source: Bowang Finance
Du Xiaoman, who has diluted financial attributes through technology, is now in the whirlpool of complaints.
01
Technology dilutes financial attributes, but lending volume is at the forefront of the market
As we all know, lending has been a good business since ancient times, and in recent years, it has been favored by major Internet companies, and Baidu is no exception.
According to the official website, Du Xiaoman, formerly Baidu Finance, in December 2015, Baidu integrated its financial business and established a financial service business group, which was handed over to Zhu Guang, senior vice president of Baidu, to be fully responsible. In April 2018, Baidu announced that its financial services business group officially completed the signing of the split financing agreement, and after the split, Baidu Finance launched a new brand "Du Xiaoman" to achieve independent operation. In May 2018, Duxiaoman was officially established, and has successively laid out six business segments: credit, wealth management, payment, insurance, personal financial technology and supply chain financial technology.
There are many financial products under Du Xiaoman, mainly including Qian Hua, Du Xiaoman Wealth Management (formerly Baidu Wealth Management), Du Xiaoman Finance (formerly Baidu Wallet), etc. As a credit service brand under Du Xiaoman Finance (formerly Baidu Finance), it shines with its simple application, fast lending, flexible borrowing and repayment, transparent interest and fees, strong security and other characteristics, and rises rapidly, with the daily interest rate as low as 0.02%, which is deeply loved by debtors.
In the trend of "de-financialization", in order to label their brands as "technology" and weaken their "online lending" benchmarks, many online loan companies have changed their names, and the same is true for Zhongdu Xiaoman. At first glance, the name does not reveal its financial attributes at all.
According to the official website, Du Xiaoman adheres to customer first and serves small and micro enterprises through technology. Based on the underlying architecture such as artificial intelligence, financial cloud, blockchain and the Internet of Things, Du Xiaoman has built a financial brain, using technologies such as emotional computing, correlation network and knowledge graph to carry out perception engine and decision-making engine operation, big data processing capacity to achieve an average of 10 billion calculations per day, and an average of 100,000 strategies per year for intelligent risk control models, through in-depth interpretation of credit reports, more than 400,000 dimensional risk indicators have been identified, credit risk has been reduced by 25%, and RPA robots have replaced more than 60% of repetitive work in credit reviewThe non-susceptibility rate is 99.2%. Du Xiaoman applies its leading technical strength to intelligent marketing, intelligent risk control, intelligent operation, intelligent operation and full-chain finance, accurately identifies the risk characteristics of small and micro enterprises, and uses technology to help small and micro enterprises reduce financing costs. In the field of financial technology, Du Xiaoman has cooperated with hundreds of banks and licensed institutions.
After being labeled as a science and technology, Du Xiaoman has unlimited scenery, and even came to the news of listing in March last year. It is reported that at that time, it was reported that Du Xiaoman would officially submit a prospectus to the Hong Kong Stock Exchange in the first half of 2023 at the earliest, and planned to be listed on the main board, which would become another independently listed company under Baidu's AI ecosystem.
Although Du Xiaoman claimed that "the listing in Hong Kong is untrue news", the indisputable fact is that the mutual finance platform under the banner of digital technology is really better than the lending business.
After the name change, Du Xiaoman's money lending business continued.
But those who know it know that in essence, Du Xiaoman is still a money-lending company.
Under the brainwashing of the three golden sentences of "finding Du Xiaoman on capital turnover", "the special annualized interest rate of 4.9% for the first loan", and "the maximum loan can be 200,000 yuan", as well as relying on Baidu, using Baidu's huge influence in China and a large user base, Du Xiaoman has been able to expand rapidly, and the amount of loans ranks among the top three online loan platforms in the country.
Du Xiaoman took such a lot of trouble to package himself, just because he didn't want to get involved with the word "lending", but the business exposed himself.
02
Complaints followed, and violent collection became the hardest hit area
Du Xiaoman is not thinking about using this platform to better serve users, but to harvest users, behind which is involved in a series of violations, according to the black cat complaint platform, as of June 25, the number of complaints involving Du Xiaoman is as high as more than 25,000, violent collection, suspected usury and other behaviors are not uncommon, ranking in the forefront of the consumer finance industry.
Du Xiaoman seems to be practicing, big data + AI when borrowing money, and simple and rude when collecting.
At the beginning of June, a complainant said, "I have arrears in Du Xiaoman, Du Xiaoman calls me every day and sends threatening and threatening text messages, and I also communicate with Du Xiaoman's customer service to tell me that I am in financial difficulties now, reduce collection or stop collection." Due to economic pressure, Du Xiaoman is not on the current level, Du Xiaoman collected and threatened me, harassed", and also said, "Du Xiaoman violated the rules, sent messages to intimidate me, contacted my emergency contact in the case of contacting me and threatened me, Du Xiaoman collected and threatened me, Du Xiaoman overdue is my problem, but Du Xiaoman violated the rules, called and intimidated me, and the third party also pretended to be various personnel, sent lawyer letters and various unlimited text messages to intimidate, hoping that Du Xiaoman could stop collecting so that I could make money with peace of mind and repay the arrears as soon as possible" 。
In addition, a complainant claimed, "I borrowed money from Du Xiaoman, and due to unemployment and overdue repayment, Du Xiaoman collected and harassed me." I hope Du Xiaoman will stop violent collection, delay it, due to work reasons, Du Xiaoman is overdue, but Du Xiaoman collects, asks Du Xiaoman to give time buffer, and requests Du Xiaoman platform to stop collecting me and my address book".
Coincidentally, there are also complainants who said, "I borrowed money on the Du Xiaoman platform two years ago because of capital turnover problems, and I have been repaying normally during the period, and then because the revolving loan was overdue, I found that the interest rate of Du Xiaoman was higher than the interest rate stipulated by the state, and I couldn't afford the high interest after the overdue, and now I have the remaining principal of 6,365 yuan, and Du Xiaoman requires more than 15,000 yuan."
The principle of customer first, Du Xiaoman seems to have not really practiced it, but there is not much time left.