New York City, April 16, 2015, — World’s largest annual gathering of the online lending community – LendIt USA, was successfully held at the Marriott Marquis in NYC April 13-15. The event attracted over two thousand attendees, including famous P2P service providers, marketplace or balance sheet platforms and investors all around the world. BZM Innovation Technology Inc., which is a company focusing on internet finance, was founded in the fifth Ave, NYC and owns offices in the Empire State building. Wendy Wang, the Executive Vice President of BZM Innovation Technology Inc., attended this great event as the representative of BZM Innovation Technology Inc.
Wendy Wang at LendIt USA(provided to bostonese.com).
LendIt USA 2015 hosted the largest exhibition ever assembled in online lending industry with every major platform from around the world. The leading companies in the USA, China and Europe P2P markets, including Lending Club, Prosper, Arbor, Lufax, CreditEase, DianRong, 9Fbank, China Rapid Finance, Haodai, have appointed their best managers as delegates to attend the event and provide masterly speeches and panel discussions about the hot topics in the online lending industry.
The dynasty of “Internet plus” has come. The internet finance industry in China is developing in a marvelous speed which has impacted the traditional finance industry significantly. Benefiting from the mature big data technologies, the P2P industry has expanded exponentially these days. Relevant data show that the China P2P online lending market has become the world’s largest P2P market whose size is over thirty billion dollars. Therefore, the LendIt team has specially arranged a China Pavilion for the use of panels and presentations about the topics in the China online lending market and exhibitions of leading Chinese P2P platforms such as Lufax and CreditEase.
“The general mission of newly-developing internet finance companies such as BZM Innovation Technology Inc. is to improve the traditional financial service mode in China with newly-developed global innovation technologies in this ‘big data’ era”, Wendy Wang says. During the LendIt conference, companies such as BZM Innovation Technology Inc. which land Wall Street early have intimate communications with other P2P market leaders from around the world and aim to prosper China’s internet finance industry with the adoption of the globally most advanced knowledge in the internet finance industry.
However, Kuisheng Ji, CEO of Lufax, has pointed out that there are significant differences between Chinese P2P market and other markets. “It is improper to directly compare the Chinese market to the USA’s market since Chinese market is developing and changing dramatically. In contrast to the USA P2P market, which is based on mostly institutional investors, Chinese market relies mostly on individual investors”. Therefore, Chinese internet finance companies’ the landing plans on the global markets are foreseeable with trials and hardships. But they will still march forward courageously.
Then it comes the question that what is the best strategy for Chinese P2P companies to expand internationally?
Wendy Wang, a professional manager who graduated from Imperial College London, formerly worked for Citi and has the professional knowledge and abundant business starting up experience, states confidently, “Chinese domestic investors generally have two concerns – how to create more values in the foreign markets with domestic capitals and how to combine foreign advanced innovations technologies with the domestic market development. To fulfil these two primary goals, BZM will help to combine computational technologies to the finance industry and greatly increase asset values. BZM will also scout for the most advanced and newest operation modes, technologies and products to secure the leading position of the Chinese internet finance industry.
Not only BZM, other financial institutions and companies such as China UnionPay and Alibaba are also putting great efforts to develop Chinese internet finance innovations in a globally leading speed. Yun Ma, the founder of Alibaba, states that their primary goal is to set up a credit system for individual consumers and small businesses which is not mature in the Chinese market. “We believe that innovations in the internet finance industry in China will take as the leading role in the global market in a foreseeable future.”