SHENZHEN, China, July 7, 2017 /PRNewswire/ -- The Chinese Academy of Social Sciences published the 2016 "China Internet Financial Platform Risk Rating and Analysis Report" (Report). Owing to their outstanding operating model and legal compliance, Neo Online (www.xiaoniu88.com) once again ranked sixth nation-wide and first in South China.
The Report selected 100 of China's mainstream Internet financial platforms and evaluated their financial risks from a comprehensive assessment of their credit risk, based on operational risks, liquidity risks to legal compliance risks. Neo Online scored 74 points, ranking sixth. Eighteen platforms achieved a total score of 70 points and above; Yirendai and Lufax were rated AA-level platforms, A+ level platforms were 9Fbank and Ppdai; A level platforms, included Neo Online and firstp2p.
In 2016, due to the efforts of Chinese regulatory authorities on the financial technology and Internet policy, the regulatory system implemented drastic changes. The Report stated that the regulatory policy and governance in the industry continued to improve, the environment in the industry is improving and the risk level has stabilized and is manageable. At present, with the regulations implemented, the one-year Internet financial special rectification is nearly finalized. The Report shows that there has been a large level of progress made to the access to the rating platform.
Neo Online set up an investor protection system on the official website with an investor education column, the development of investor risk tolerance assessment system, the use of electronic signature technology to sign contracts to strengthen the risk control audit system, and the development of anti-fraud measures. In addition, the platform also introduced accounting firms, law firms, information security assessment and certification of third-party intermediaries to provide real-time protection of the interests of investors. In April this year, Neo Online risk control systems have performed the independent research and development upgrades and started the "third generation credit core system" trial operations. The system maximizes the efficiency of the automation process by 90%, therefore the overall efficiency of the audit and verification, reducing manual verification volume while securely and speedily handling applications.
"We are open to regulation, we welcome the management of the 'bad elements' to lead the whole industry towards healthy development," said Linda Wong, CEO of Neo Online, while attending The Economist Event "Finance Disrupted: Asia" in Hong Kong.
About Neo Online
Launched in June 2013, Neo Online (www.xiaoniu88.com) is the Inclusive financial platform of parent company Shenzhen Neo Internet Financial Services Co., Ltd. (Neo Financial), and is operated by Neo Online Internet information Consulting Co., Ltd. In November 2014 Neo Financial successfully raised 100 million Yuan as registered capital. Neo Online's vision is to make investment and financing become transparent, simple and efficient, to achieve the preservation and appreciation of all people, and become China's influential Internet financial services platform.
About Neo Capital
Neo Capital Management Group Co., Ltd. (Neo Capital) was founded in 2012 - four main management centers were set up in Beijing, Shanghai, Shenzhen and Hong Kong. Neo is operating overseas in countries such as, Dubai, Australia, New York and other international financial centers and they formed a Wealth Management, inclusive Finance, Consumption Financial and Investment Management ecosystem. Neo is committed to providing comprehensive professional family financial services to the community, and is a discovery and assets creation entity financial company.
SOURCE Neo Financial