Big data playing key role in small loans

Leading domestic peer-to-peer lending and wealth management company CreditEase Corp has been relying on big data technology to give consumers quick decisions on loans, senior executives of the company said.

P2P finance involves lending money to unrelated individuals, or peers, without the use of a traditional financial intermediary such as a bank.

"We believe everyone has credit and his credit can be valuable, so we are developing big data technology" to help evaluate individuals' credit, said Chief Executive Officer Tang Ning. "Our technology will not only help our own clients, but also be available to the whole sector."