Yirendai (宜人贷)

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    Yirendai (宜人贷) is a P2P lending platform that is headquartered in Beijing and listed on the New York Stock Exchange (NYSE:YRD). 

    As of 30 June 2018 Yirendai had provided its services to 1.4 million borrowers and 1.5 million investors, involving approximately 97.6 billion yuan in cumulative loan facilitation

    In the second quarter of 2018 alone the company had 177,754 borrowers and 202,380 investors, for a remaining principal of performing loans of 45.8 billion yuan.

    Yirendei bills itself as a “leading Chinese fintech platform,” and a “provider of high-efficiency, convenient, personalised credit and lending consultation services to China’s high-quality urban white-collar demographic via technology-driven financial innovations.”

    The company has its origins in CreditEase (宜信创建), a P2P lending firm established in Beijing by Tang Ning (唐宁) in 2006 that specialises in financial inclusion and wealth management services, and which has a presence in the payments, online lending, crowdfunding, AI investment, smart insurance and blockchain sectors.

    Creditease unveiled the Yirendai platform in 2012, and on 18 December 2015 Yirendai became the first Chinese fintech concern to launch its IPO on the New York Stock Exchange.

    Key milestones

    • May 2006: CreditEase founded by Tang Ning.
    • March 2012: Yirendai website officially launched.
    • September 2013: Yirendai launches the Yirendai borrowing app, which it claims is the first in the world to permit the full completion of borrowing transactions via a mobile phone.
    • September 2013: Yirendai launches smart wealth management service “Yi dingying” (宜定盈).
    • October 2014: Yirendai launches what it claims to be the world’s first rapid lending service based on big data risk control, capable of achieving “1 minute credit provision, 10 minute rapid approval.”
    • December 2014: CreditEase is chosen as the selected as the head unit of the Beijing Internet Lending Industry Association (北京市网贷行业).
    • June 2015: YinrendaI enters fund depository cooperation with China Guangfa Bank (广发银行).
    • December 2015: Yinrendai lists on the New York Stock Exchange.
    • March 2016: CreditEase is made director of National Internet Finance Association of China.
    • April 2016: Yinrendai unveils public fund model for lending transactions.
    • May 2016: Yinrendai launches online lending sector’s first security leak platform YISRC.
    • June 2016: Yirendai launches first asset-backed security listed on Shenzhen Stock Exchange.
    • March 2017: Yinrendai launches Yinrendai Enabling Platform.

    Key personnel

    Tang Ning, a graduate in mathematics from Peking University is the founder and chair of of Yinrendai, as well as the founder of CreditEase.

    Tang Yihan (方以涵), who joined CreditEase in 2011 is Yirendai’s chief executive officer.