Subsequently, the cost of acquiring customers in the offline market increased, the risk of scene staging surged, the competition among players intensified, and the cost of capital continued to rise, which led to the withdrawal of Baiqian consumer finance, which had never been licensed, and its market share declined rapidly.
Baiqian Finance used to be the guest of many investors, competing with banks and consumer finance companies, and now it is in an embarrassing situation of losing contact. Online shopping malls and cash loans failed to save Baiqian, who is currently busy realizing traffic.
The development history of Bai Qian
Three years ago, when Baiqian Financial Headquarters moved into Shenxinhao E Capital Office Building, Liu Shi and several senior executives and department heads witnessed the highlight moment of Baiqian in the sound of flowers and salute. However, at this time, the trend of consumer finance market has changed, the online trend has risen, credit risk has erupted, and licensing compliance has gradually become king.
Kong Lingjun, former vice president of Baiqian Finance, once talked about the breakthrough prospect of Baiqian Finance. Baiqian Finance sought the business model of offline scene at the beginning of its establishment, and attached importance to the application of technology in operation and risk control. This is because online customer acquisition costs are higher, traffic is monopolized by giants such as Baidu Ali, and online fraud risks are greater.
The staging of offline scenes seems controllable, but the cost of risk control hidden at the B end is not low. On the other hand, there are too many local employees and offline stores, which will increase the pressure of the company's heavy asset operation, increase the operation and maintenance costs, increase the management difficulty, and make the risk of fraudulent loans and fraud higher.