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[Abstract] This paper, after analyzing and comparing the advantages and disadvantages of network credit and traditional credit, believes that the network credit system will be the trend of the future development; and then in the analysis of ? platform credit collection? and the central bank's credit bureau. The advantages and disadvantages of the central bank credit collection model are analyzed. On the basis of analyzing the advantages and disadvantages of platform credit and central bank credit, it is pointed out that the central bank credit model is an effective way to quickly establish the Internet financial credit system. It is proposed to promote the inclusion of Internet financial credit information into the central bank credit system and establish the idea of Internet financial credit system under the premise of improving the legal and regulatory system of Internet financial credit and clarifying the industry standard of Internet financial credit.

Keywords: Internet credit collection; credit system; central bank credit collection; platform credit collection

Chinese chart classification number: F83 Literature identification code: A

I. Background and significance of the study

Credit collection refers to the intermediary service activity of investigating and reporting the credit or creditworthiness of the credit subject (market participant), and its main role is to eliminate or reduce the information asymmetry between the two sides of the credit transaction. The main function is to eliminate or reduce the information asymmetry between the two parties. The construction of credit system is the inevitable requirement of China's social and economic development, is the latest part of China's market economy, is one of the important content of China's innovative social management.

As a new financial model, Internet finance is developing rapidly, with the Internet as the independent carrier of the third-party payment, P2P network credit platforms, crowdfunding, e-commerce, big data finance, Internet financial portals and other types of services, although the operation of the form of the different, but not without profoundly changing the financial landscape. In the past two years, the number of P2P online lending platforms in China has been increasing, however, behind the dramatic expansion of frequent network credit companies? Collapse wave? also exposed the Internet financial credit system lagging behind and the lack of supervision.

The construction of the social credit system is more and more emphasized by enterprises and individuals, and the introduction of the Internet financial credit system in the construction of the social credit system caters to the needs of the development of Internet finance, but how to build an Internet financial credit system suitable for China's national conditions, how to build its model and structure, and there is no systematic construction of the implementation of the construction of a system, the construction of Internet financial credit system is also a relatively new topic. a relatively new topic. At present, there is still a big difference in the knowledge and understanding of China's credit collection system, and many people now attribute the construction of credit collection to the construction of a database, an information platform, or the collection of a blacklist. This understanding is a certain limitation, we should realize that the construction of credit system is an important work to improve the social management system in the process of deepening the construction of market economy in our country, and it is in the construction of a new type of social operation rules.

Two, network credit and traditional credit comparison

From Tmall, ants, sesame and so on, we can see the intrinsic link between network business, Internet finance, network credit system, it can be said that the network credit industry service chain has been initially formed. Network credit is being gradually separated from network business activities, as an independent industry is beginning to emerge. Network credit service is becoming an important support for the development of network economy and society.

(I) Traditional credit collection: small data of real finance. Traditional credit collection is a specialized credit management service by a professional organization that collects financial and financial transaction information through a fixed model orientation and processes, handles, and reports the information. Traditional credit collection is represented by the United States, with the establishment of the American Dun & Bradstreet Company in 1841 as the symbol of the rise, and it is the prevailing credit collection industry in the whole world at present. In China, traditional credit collection is represented by the credit collection system of the People's Bank of China, which is subject to the "Regulations on the Administration of the Credit Collection Industry", and the establishment of the agency and the development of its business need to apply for the corresponding license, and the characteristics of traditional credit collection are:

Specialized and licensed operation by the credit collection agency; it is ? small data?

Traditional credit relies on several professional organizations to build their own physical databases and directional searches for some? Small data? Because of the slow update and expansion of data items, the credit report and results that data users get are in a fixed format and relatively static.

Traditional credit services rely on the level of database coverage. Although traditional credit has been developed for a relatively long time, it can not achieve complete coverage. The U.S. credit system is the most developed in the world, but some public information currently shows that the coverage rate of the U.S. credit system is only 85%.

(ii) Network credit: big data on network behavior. Network credit collection refers to network trading platforms, e-commerce and other network organizations to carry out the entire network of massive data collection and processing and direct application of credit management services. Network credit collection is to comprehensively capture all kinds of data through online non-directional and acquire massive network information, so as to realize a comprehensive description of the credit trajectory and credit behavior of network subjects. The main features of network credit collection are:

Big Data? , data from a wide range of sources, comprehensive information, not confined to financial, but also includes non-financial, such as social behavior, text speech, conversation voice, pictures and other kinds of information, has a very strong social nature. Network credit collection on the network platform can be covered by the people involved in network activities, without the establishment of specialized institutions and databases, without the need for a large amount of capital costs and human and material resources for database transmission, that is, without the need to collect data for the purpose of collecting data, all the data and information are naturally generated with the network activities, as long as they are available online through the platform or directly using the big data search and capture, with a low cost, The threshold is low, which is the reason why the network credit is developing rapidly and will inevitably become the mainstream of the future.

Three, platform credit and central bank credit advantages and disadvantages comparison

The establishment of the Internet financial credit system is an important means to prevent the risk of Internet finance, and promote the further healthy development of Internet finance. At present, there are two modes of Internet financial credit system to choose from: one is to rely on the Internet financial service platform established by the ? The first is the platform credit collection established on the basis of the Internet financial service platform. The second is to incorporate Internet financial credit into the central bank's basic database of financial credit information (referred to as the central bank credit system). Central Bank Credit Information System (CBCIS). The second is the incorporation of Internet financial credit into the central bank's financial credit information base database (referred to as the central bank credit system). The second is the central bank credit collection model, which incorporates Internet financial credit into the central bank's financial credit information database (the central bank credit collection system). The model.

(1) Information source. The platform credit information from a single channel, continuity is not guaranteed; the central bank credit information is rich in variety, stable source of information, the platform credit information is mainly from the behavioral data of the customer in the process of business, to a certain extent, reflecting the characteristics of the customer's social relations and economic behavior. In the case of Ali, for example, the e-commerce platform is the only source of Ali's credit information, and Ali's credit database only collects information on its customers' online transactions and their related information, which is highly directional.

The central bank's credit information covers a wide range of industries and can reflect the information of the credit status of the information subject, and there are more categories of information. The Regulations on the Administration of the Credit Collection Industry clarify the legal status of the central bank's credit collection system and make it mandatory for institutions engaged in credit business to report data to the central bank's credit collection system. Therefore, there is a stable source of data.

(ii) Information quality. The platform credit information is time-sensitive, but there is ? information noise? ; central bank credit information is weak in timeliness, but there is no ? Information noise? In the process of e-commerce platform transactions, once the transaction is generated, the transaction information will be instantly collected and entered, so the platform credit data has a strong timeliness; but at the same time, it will also produce a large amount of ? Information noise? and Internet information technology is not able to identify and select useful and true information from the mass of information, so it is difficult to comprehensively and accurately reflect the credit status of the information subject.　The central bank's credit collection can only collect relevant information with the consent of the information subject, including credit information, credit information of public utilities, and information related to government departments, etc., and is generally entered by the relevant information source units, and there is a certain time lag from the generation of the information to the entry of the credit collection database, so the timeliness of the information is relatively weak; however, the central bank's credit collection will consult with the information source units on the types of information before the collection of the information and ask the information source units to report the information in accordance with the established mode. The information source unit will submit data in accordance with the established mode, and the information source unit will process the information simply and be responsible for the authenticity of the information, so there is no information noise. There is no information noise. problem.

(d) Information processing capability. The platform credit has a strong information processing capability. The e-commerce platform has strong information organization, retrieval and sorting functions, which can standardize the sorting of massive information, and can be targeted to meet the needs of different information users. In addition, the e-commerce platform, with the advantage of big data mining and powerful information flow, will be a large number of fragmented, difficult to quantify and disseminate ? soft information? into quantifiable and spreadable? hard information? The central bank credit is far less powerful than the platform credit in terms of information processing, such as the central bank credit system to provide credit products and services are more limited, but with the growing maturity of its model, the information processing capacity will gradually be powerful, the function will be gradually improved.

(v) Credit information **** enjoy. For Internet finance, as each platform is based on its own business needs to establish the credit model, the lack of unified industry credit standards, so the platform information is difficult to effectively **** enjoy, restricting the role of the failure to discipline mechanism in the field of Internet finance to play. And the central bank credit after nearly a decade of development, has been initially realized in the reality of finance between the commercial banks credit information *** enjoy, and provide query services, effectively preventing the financial system credit risk.

Four, China's Internet financial credit system construction path

(a) improve the legal and regulatory system, for the Internet financial credit system construction to provide legal protection. The Regulations on the Administration of the Credit Collection Industry and its supporting system have initially constructed a legal framework for China's credit collection, but many of the implementation details have not yet been issued, especially for the lack of effective regulation of credit collection activities in the field of Internet finance. To build the legal framework of Internet financial credit collection system, firstly, the basic legislation related to Internet finance should be accelerated to clarify the nature and legal status of Internet finance such as Internet financial enterprises, P2P financing platforms, etc., so as to make them become the legitimate information providers of credit collection system, and to lay the legal foundation for the access to the credit collection system; secondly, under the framework of the Regulations on the Administration of the Credit Collection Industry, combining with the basic characteristics of Internet finance, the behavior of Internet financial credit collection shall be incorporated into the legal framework of China's credit collection system, which is the most effective way for the Internet finance industry. Secondly, under the framework of the Regulations on the Administration of Credit Industry, the credit collection behavior of Internet finance should be included in the scope of unified supervision; once again, according to the development and changes of the credit collection market in the context of Internet finance, the existing credit collection regulations should be revised and improved in due course, and the new credit collection business model such as the credit collection activities based on the Internet service platform should be regulated and managed.

(ii) Establish a credit collection system for the Internet finance industry and clarify the credit collection standards. A unified credit standard is a prerequisite for the realization of information interoperability, China's credit standardization construction is relatively lagging behind, the Internet financial credit is even more so. At present, the technical platform commonly used in China to support the credit system differs greatly in the structure and standards of its various databases, including credit data format, content, indicators and logos, as well as technical support software, which leaves serious hidden dangers for the integration and *** enjoyment of credit information on the Internet and information exchange and interface connection between databases, as well as obstacles to the further processing, collation and comprehensive application of credit information data . It is recommended to set up a national Internet finance industry association, which will be responsible for researching the establishment of a national Internet finance industry credit system, formulating industry credit standards, unifying the content of key standards such as data collection, credit report format specification, credit service, etc., and revising and perfecting the standard system through the practice of development of the Internet finance industry so as to realize the *** enjoyment of credit information of the whole industry of Internet finance.

(3) Promote the full access of Internet finance to the central bank's credit reporting system to realize credit information ****sharing and complementarity. The central bank credit system plays a very important role in realizing the financial pre-lending and post-lending risk early warning and other businesses, and almost all commercial banks have taken the query of the credit system as a mandatory part of the review of loans. The inclusion of Internet financial credit information into the central bank credit system is an effective path to realize the rapid establishment of a unified platform for Internet credit information and the construction of a network credit system. In the Internet financial industry credit system and credit standardization construction gradually established and perfected, should actively promote the Internet financial comprehensive access to the central bank credit platform, the establishment of financial institutions, Internet enterprises, third-party payment institutions and other docking mechanism and credit information exchange mechanism, the formation of the central bank credit system and the Internet financial credit system to promote each other, complement each other.

(4) play the role of credit mechanism, purify the Internet financial environment. The basic function of the credit mechanism is embodied in incentives for trustworthiness, punishment for breach of trust, in the Internet financial credit information is fully integrated into the central bank credit system, through the central bank credit system information **** enjoy complementary, and further play the role of the credit mechanism. First, the establishment of Internet financial? blacklist? system and market exit mechanism, increase the penalty for breach of trust behavior, and form an effective deterrent to defaulters; secondly, improve the information record and disclosure system to form a ? The second is to improve the information record and disclosure system to form a good environment for the defaulters. The good environment, increase the market transaction costs of defaulters, the formation of market-based punishment mechanism; Third, the establishment of a sound social credit reward and punishment mechanism. The use of social media and network resources to strengthen the disclosure and exposure of non-credit behavior, the formation of the whole society's moral condemnation of the public opinion environment; Fourth, the establishment of a sound judicial credit punishment mechanism, according to the law, the serious defaulters of the civil or criminal responsibility, the establishment of the requirements of non-credit punishment with the requirements of the judicial supporting system.

Major references:

[1] 2013 Annual Special Issue of Online Loan Industry.

[2]Wu Jingmei, Review and Prospect of China's Credit Collection Industry from 2011 to 2012[J]. Credit Collection, 2011.6.

[3]Wu Jingmei. The future of China's credit collection: three major data systems[J]. Credit Collection, 2013.1.

[4]Du Yingwei. Exploring the development of credit collection industry in the era of big data[N]. Financial Times, 2014.9.29.

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