In November 7th, some netizens found that Alipay's "borrow" name changed to "credit loan". The product screenshot shows that the "credit loan" page will display the information of "financial services provided by XX bank" in a prominent position. After entering the loan page, you can also see the daily interest rate, initial annual interest rate, total interest amount and other information in "loan details and agreement". According to the official explanation, credit loan is a consumer credit service independently provided by a financial institution cooperating with ant. It will display the consumer credit service provider. The user's quota and interest rate are the results of the independent approval of the financial institution, and the loan funds applied by the user are also issued by the financial institution. Your credit loan is a consumer credit service independently provided by a financial institution cooperating with ants. Q: What services do the financial institutions I see on the page provide? A: The financial institution displayed on the page is your consumer credit service provider. Your quota and interest rate are the result of the independent examination and approval of the financial institution, and the loan funds you apply for are also issued by the financial institution. Q: Will my services be affected? A: After this adjustment, you can have a clearer understanding of the financial institutions that provide you with consumer credit services. The original loan, audit, repayment and other services will not be affected. Q: Will my credit investigation be affected? A: Your credit investigation record will not be affected by this adjustment, and the financial institution serving you will continue to report after the adjustment. Please repay on time and keep a good credit investigation record. According to the report, on the night of the 7th, the borrower responded that the borrower is gradually promoting brand isolation, and a number of licensed financial institutions, including ant consumer finance company, will jointly provide users with more convenient and high-quality microfinance services. In the future, it will be provided by ant consumer finance company and become the exclusive brand of ant consumer finance company. Credit services independently provided by banks and other financial institutions will be displayed on the "credit loan" page. In the process of brand isolation, the user's service experience will not be affected, and the core processes such as opening, audit, interest calculation, loan and repayment will not change. Previously, in April this year, the people's Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, foreign exchange bureau and other financial management departments jointly interviewed ant group and announced the rectification plan. The first content is to correct unfair competition behavior in payment business, give consumers more choice in the way of payment, and break the improper connection between Alipay and other financial products such as "Hua Bai" and "borrow" and so on, so as to correct illegal behaviors such as nesting credit business in the payment link. According to the 21st Century Business Herald, the relevant person in charge of the non banking department of the CBRC said that according to the rectification plan, ant group should orderly undertake the consumer credit business in line with the regulatory provisions of the two small loan companies within six months of the opening of ant consumer finance company, and complete the brand rectification of "flower chant" and "borrow chant". During the transition period of one year since the opening of ant consumer finance company, the two small loan companies realized a stable and orderly market exit. After the rectification, "Huabai" and "borrow Bai" will become the exclusive consumer credit products of ant consumer finance company. The consumer credit issued by other financial institutions with the help of the data information provided by ant group will no longer be marked with the names of "Huabai" and "borrow Bai". Cbcirc requires ant group to take effective measures to ensure that financial consumers can fully understand the name of credit service providers when applying for consumer credit services, so as to avoid brand confusion. In June this year, ant consumer finance company was approved to open. In September this year, # Huabai will be fully connected to the central bank's credit investigation system # which has attracted attention. In the announcement on September 22, Huabai made it clear that Chongqing ant Consumer Finance Co., Ltd., which belongs to Huabai, as a licensed financial institution listed with the bank and supervised by the cbcirc, its service record information should also be included in the credit investigation system like bank lending information. The announcement said that Huabai has introduced a number of financial institutions to provide services. In other words, the operation subject of ant Huabai has been changed from "online small loan" to "licensed consumption fund", that is, it has been changed from Chongqing ant microfinance Co., Ltd. to Chongqing ant Consumer Finance Co., Ltd. (Xinhua News Agency)