Weicai Digital Technology has cooperated with a number of financial institutions to achieve precise drip irrigation for small and micro operations

Weicai Digital Technology has cooperated with a number of financial institutions to achieve precise drip irrigation for small and micro operations

Today, the connotation of financial technology has quietly changed, and digital financial inclusion has increasingly become the starting point and goal of financial technology. Practice has shown that digital financial inclusion, which uses digital technology as a means, inclusiveness as its nature, and financial services as its essence, can truly and efficiently achieve financial inclusion. For example, with the help of financial technology, financial institutions have enhanced their ability to reach inclusive businesses, and realized precise drip irrigation for the production and operation of small and micro enterprises and farmers.

In the direction of inclusive finance in the current financial market, small and micro credit is a very important branch. In the context of a huge market economy, the support of inclusive finance will activate the market competition vitality of small and micro credit entities, and it is of great significance to help increase employment, improve people’s livelihood, and increase the sense of gain of low- and middle-income groups. In order to truly fulfill the mission of serving financial entities, Weicai Digital Technology has joined hands with a number of financial institutions to complement each other, and accurately transfer financial vitality to small and micro enterprises and other economically weak links. Li Cong (pseudonym), who contracted a navel orange plantation, is a beneficiary of the inclusive finance of Weicaishuke.

A few years ago, Li Cong saw that the benefits of growing navel oranges were more substantial than working part-time, so he also contracted a navel orange plantation in Fengjie, Chongqing. Last year, Li Cong’s plantation was washed away by a heavy rain, and he had to buy saplings and fertilizers, but capital turnover became a problem for him. He didn’t want to borrow money to bear the debt of favor. Under the introduction of his friend, he applied for a loan from a financial institution through the good installment platform under Weicai Data Science. After passing the review, he finally approved 11,000 yuan. Although the money may not seem like much, it meant saving the plantation business to Li Cong. Li Cong’s oranges are now sold to Shanghai, Beijing, Yunnan and other places through multiple channels. When the orchard grows bigger, he decided to open a Taobao store so that more people can eat Fengjie navel oranges.

“Difficult, slow, and expensive financing” is a common problem faced by small and micro enterprises and farmers, and financial technology is the key to solving the problem. Combining the microfinance and digital technology’s small and micro agricultural credit service experience, it is not difficult to see that financial technology has solved two key problems. The first is to assist financial institutions in identifying small and micro credit risks and business risks, so that the risk control management of financial institutions can integrate quantitative strategies and digital risk control models to achieve efficient credit decision-making. The second is to improve the credit matching between financial institutions and small and micro enterprises, improve service access and experience, and safely transfer inclusive credit from financial institutions to small and micro enterprises, increasing the financial availability of small and micro enterprises.

In the process of promoting the sinking of inclusive finance, a differentiated and personalized credit management model should be adopted to meet the real credit needs of small and micro enterprises and farmers, and truly implement the policy deployment of inclusive finance. As an innovative financial technology company, Weicai Digital Technology has always been at the front line of serving entities and empowering small and micro enterprises. With the mission of “technology-based, innovative financial services, and creating a better life”, it exports technological solutions to financial institutions to help Financial institutions deliver financial warmth to the society.

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