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Rong360.com plans 100 offline outlets for expansion

RONG360.COM, an online finance service platform, aims to open 100 offline finance outlets nationwide offering consumer loan consulting services to expand business, after raising US$70 million from investors in August, the Beijing-based firm said yesterday.

The offline service, with bank clients and big data analysis system, will help consumers get loans in a quick and safe way, which is set to boost flexibility in the micro-economy level, industry insiders said.

The website offers loan services online including recommending loan products based on consumers’ requirements and help them get loans with professional credit certification and risk control systems. The offline expansion will help it improve successful rate from 15 percent to 30-40 percent, said David Ye, co-founder and chief executive of Rong360.

“We don’t offer loans directly but we do offer best choices and services for loans. We want to be Baidu (for searching) and Alibaba (for credit system) in online loan sectors,” Ye added.

Ye called the outlet a “consumer finance supermarket”, which covers 40-50 square meters with several trained employees to help consumers get loans. Selected consumers who have applied loans online are invited to the outlets, where they get professional services to get loans. The offline services are free to consumers but Rong360 charges banks for services fee.




 

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