Zhou Jing, Dumiao CEO, spoke at today's press conference about how the Company's technology will increase the accessibility to consumer credit by improving the efficiency of loan underwriting, automating credit decisions and mitigating fraud, which will lead to mutual benefits for consumers, retailers and financial institutions.

Dumiao's core product is a credit decisioning engine which enables high-speed lending decisions without the need for traditional offline human underwriting examination. By leveraging big data to increase the speed and accuracy of credit decisions, Dumiao enables the consumer loan decision to be made in real-time at the point-of-sale, opening up a multitude of new product opportunities that were previously unavailable in the market.

Digital Consumer Lending as a Service

"POWERED BY DUMIAO" is a digital consumer "lending as a service" that integrates Dumiao technology into third party sales platforms. "Our solution enhances the service offering for third party retailers by providing consumers with new purchase options at the point-of-sale. This drives new sales for our partners and a better experience for our partners' customers. Through Dumiao, any sales channel, online or offline, can integrate digital lending as a point-of-sale financing solution to enhance their platform's customer experiences," said Zhou. Dumiao has already signed agreements with cooperation partners in multiple sales verticals including: Medical - Cardinal Health (CAH), Consumer Electronics - LeEco (LeEco:300104. SZ), and Travel/OTA - Qunar (QUNR) and C-Trip (CTRP). Dumiao plans to develop additional market verticals including automotive sales, hypermarkets and service platforms for SMEs.

Dumiao commenced operations in June of 2015 with a direct origination consumer loan product and has gradually rolled out new product offerings over the last twelve months. Today its product line includes online consumer loans, online micro-sized SME loans and digital consumer "lending as a service" to online and offline sales channels.

As of June 2016, Dumiao has processed loan applications for 1.6 million consumer borrowers and 2.4 million individual point-of-sale transactions. Dumiao is currently working with more than a dozen online and offline retailers with the digital consumer "lending as a service" technology offering. Dumiao is currently processing applications on 500,000 individual consumer borrowers on a monthly basis.