In recent years, ICBC has actively developed Easy Loan, an unsecured loan product based on big data, fully internet-based operation and intelligent service, to meet the needs of residents and small/micro enterprises for online and offline consumer financing. So far, ICBC Easy Loan, with a balance of up to RMB 200.0 billion, has satisfied the funding demands of 4.30 million individual customers and small and micro merchants for daily consumption as well as production and operation.

An ICBC official said that with a full coverage of the demands of individual and small/micro enterprises for consumer finance, Easy Loan could accurately position customers’ consumption records, financing needs and credit status with the integration of their logistics, capital flow and information flow, effectively turning their consumer demand into consumer credit demand. The personal Easy Loan, for example, takes credit cards and debit cards as the main media and approves the credit limit of the cardholders in advance. Once a cardholder consumes more than RMB 100, either online or offline, ICBC will immediately send an text message on loan application. The cardholder can apply for loans either by replying the text message or through ICBC Internet banking, mobile banking, direct banking, e-Connect and other channels. The whole procedures from application to payment, is handled online. With a simple touch of the screen, the cardholder can have loans transferred to his/her account in a real-time manner. The Easy Loan corporate cards for small and micro merchants, similar to the personal Easy Loan, is a purely credit-based uncovered and unsecured credit card financing product with revolving line of credit tailored for small and micro enterprises. After analyzing and integrating the authentic transaction journal of goods and services purchase by merchants in different industries as well as their business data, the Bank can master and verify the operating stability of enterprises and their ability for cash flow generation so that it can approve credit limit in a targeted manner, and effectively turn the merchants’ “intangible credit” into “tangible funds”, realizing “getting loans for payment by card regardless of regional or time differences”.