Yiren Digital Ltd (19YA)

Overview

Yiren Digital Ltd. serves the online consumer finance market in the People's Republic of China by connecting borrowers with investors through its subsidiaries. The company’s mission encompasses offering a variety of financial services from loan facilitation to post-origination services including cash processing and collection services. Yiren Digital's suite of loan products ranges from unsecured and secured consumer loans to small business loans. Additionally, the company has ventured into the distribution of investment products such as short-term cash management solutions, mutual funds, insurance, and securities. Through its online platform and mobile application, it aims to cater to a broad spectrum of financial needs, including wealth management and investor education. Founded in 2012 and headquartered in Beijing, the company has experienced a significant evolution, changing its name from Yirendai Ltd. to Yiren Digital Ltd. in September 2019. Operating under the parent company Creditease Holdings (Cayman) Limited, Yiren Digital has established itself as a pivotal player in China's fintech landscape.

Products and Services

• Loan Facilitation Services:

Yiren Digital provides a platform for borrowers and investors, facilitating unsecured and secured consumer loans, as well as small business loans. Their loan facilitation extends to financial leasing, auto-secured loans, and property-secured loans, addressing various consumer and business financing needs.

• Post-Origination Services:

The company offers comprehensive post-origination support including cash processing, collections, and SMS notifications. These services are crucial for maintaining loan performance and customer satisfaction after the initial loan facilitation stage.

• Investment Products:

Yiren Digital distributes a wide range of financial products including short-term cash management options, mutual fund investments, insurance products, and securities. As of December 31, 2020, their portfolio comprised 60 fixed income products, 810 mutual fund products, and 296 insurance products, catering to diverse investment appetites and risk profiles.

• Online Investor Education:

The company emphasizes financial literacy and investor education through its online platforms, offering resources on investment, trading, wealth planning, market insights, and strategy. These educational services are designed to empower investors to make informed decisions.

• Consultancy and IT Support:

Apart from financial services, Yiren Digital provides consultancy, IT, system maintenance, and customer support services, ensuring a smooth operational framework for its online platforms and mobile applications.

• Financing Lease and Insurance Brokerage:

The firm is also involved in financing lease and insurance brokerage, expanding its service offerings beyond traditional lending and investment products. These services contribute to a holistic financial ecosystem catering to a wider client base.