Borrowing to change its name to credit lending institutions "random allocation"?
Ant Group claims that this statement is completely misunderstood, but it does not support users to change service agencies voluntarily.
News from our newspaper (Reporter Cheng Jie) Recently, many netizens discovered that their "borrowing" has become "credit loan", and the system also clearly indicated the name of the bank that provides the service in a prominent position on the page.
Yesterday, some media reported that the lending institutions shown in "Credit Loans" were randomly assigned by the system, and users could not choose by themselves.
A person from the Ant Group said that the term "random allocation" is completely misunderstood. The service organization shown in "Credit Loan" follows the principle of priority of historical service organization, that is, which bank service the user originally used is still that bank service. Matching is performed after comprehensive evaluation of the user’s needs, characteristics and other factors, instead of random allocation.
Relevant sources said that in the interview with related reports, Alipay's customer service answered not rigorously, but the customer service did not say "random distribution", but only mentioned "batch switching."
"Batch switching" more accurately means that when the brand isolation is "credit loan", users are effective in batches, which is a common operation of Internet products.
In addition, "Credit Loan" does not yet support users to change service agencies independently, and Ant will further optimize the related experience in the future.
It is understood that the well-known "borrowing" has always been provided by a number of licensed financial institutions, including Ant Consumer Finance Corporation, and not entirely provided by Ant's subsidiaries.
When users subscribe to the "borrow" service, the agreement will specify the specific lending institutions, but in the previous "borrow" pages, the system did not clearly indicate the names of these financial institutions.
In accordance with regulatory requirements, on November 8, "Baibai" has started brand isolation work.
In the future, "Baibai" will be provided by Ant Consumer Finance Company and become the exclusive brand of Ant Consumer Finance.
Only the services provided by Ant Consumer Finance will continue to display the "BaiBai" brand, while the credit services independently provided by banks and other financial institutions will be displayed on the "Credit Loan" page, which prominently displays the information of financial institutions, and the "BaiBai" brand Separate.
Ant Group stated that in the process of brand isolation, the user's service experience will not be affected, and the core processes such as opening, checking accounts, calculating interest, and borrowing and repaying will not change.
According to the information posted by some netizens, after its loan service was adjusted to the "credit loan" page, the loan limit and interest rate did not change.
Ant Group stated that the credit services displayed on the "Credit Loan" page are all independently operated by other financial institutions, and their credit lines and interest rates are dynamically approved by the service provider based on user information, and are not affected by the brand isolation work.
Subsequent changes to the user's credit history and qualification information may lead to changes in the evaluation results.