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Why Tuandaiwang's Business Model is so successful?

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Tuandaiwang’s Company Overview


Tuandaiwang is a prominent Chinese peer-to-peer lending platform based in Dongguan, Guangdong province. Founded in 2012, the company provides a comprehensive financial services platform that bridges borrowers and lenders, offering an innovative and efficient alternative to traditional banking systems. Tuandaiwang is committed to delivering a secure, transparent, and user-friendly lending experience, leveraging advanced technology and rigorous risk management protocols. The company's services range from personal finance and small business loans to wealth management and financial planning solutions, catering to a broad spectrum of financial needs. Business Model: Tuandaiwang operates on a peer-to-peer lending model, serving as a facilitator between borrowers and lenders. The platform allows individual borrowers or small businesses to obtain loans funded by a pool of personal or institutional investors. This model enables borrowers to access funds quickly and conveniently without the stringent requirements of traditional banks. Meanwhile, investors can earn higher returns than conventional savings or investment options. Tuandaiwang ensures the credibility of its platform by using advanced algorithms for credit scoring and risk assessment and by providing comprehensive information about borrowers to potential lenders. Revenue Model: Tuandaiwang's revenue model is primarily based on charging service fees from both borrowers and lenders. For borrowers, the company charges a platform service fee, which is a percentage of the loan amount. Similarly, lenders are charged a management fee for the services provided by Tuandaiwang, including risk assessment, loan management, and collection. The company also earns revenue from its wealth management and financial planning services. By diversifying its income sources, Tuandaiwang ensures a steady revenue stream while providing valuable services to its users.

https://www.tuandai.com/

Tuandaiwang’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: design/aesthetics, provides access

Functional: simplifies, connects, reduces risk, reduces cost, informs


Tuandaiwang’s Related Competitors



Tuandaiwang’s Business Operations


Cross-selling:

Cross-selling is a business strategy in which additional services or goods are offered to the primary offering to attract new consumers and retain existing ones. Numerous businesses are increasingly diversifying their product lines with items that have little resemblance to their primary offerings. Walmart is one such example; they used to offer everything but food. They want their stores to function as one-stop shops. Thus, companies mitigate their reliance on particular items and increase overall sustainability by providing other goods and services.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Customer data:

It primarily offers free services to users, stores their personal information, and acts as a platform for users to interact with one another. Additional value is generated by gathering and processing consumer data in advantageous ways for internal use or transfer to interested third parties. Revenue is produced by either directly selling the data to outsiders or by leveraging it for internal reasons, such as increasing the efficacy of advertising. Thus, innovative, sustainable Big Data business models are as prevalent and desired as they are elusive (i.e., data is the new oil).

Crowdfunding:

Crowdfunding is the technique by which a large number of people contribute to a project. Contribute modest sums of money to support a new business endeavor. Crowdfunding leverages the ease of accessing vast networks of people, connecting investors and entrepreneurs through social media and crowdfunding websites. It can increase entrepreneurialism by widening the pool of investors further than the traditional ring of owners, relatives, and venture capitalists.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Disruptive banking:

The banking industry's disruptors are changing the norms that have been in place for decades. These new regulations, however, will only be effective until the next round of disruption occurs. Banks and credit unions must thus be nimble and responsive. We need audacious tactics. 'Disruptive Innovation' is a term that refers to the process whereby a product or service establishes a foothold at the bottom of a market and then persistently climbs up the value chain, ultimately replacing existing rivals.

Online to Offline O2O:

Online to offline is a term (often abbreviated as O2O) used in digital marketing to refer to systems that entice customers to purchase products or services from physical companies while they are in a digital environment.

P2P lending:

P2P lending removes the intermediary layer from borrowing and lending, making financing a feasible financial choice for individuals. Peer-to-peer lending (P2P) is a kind of debt financing that allows people to borrow and lend money without using a traditional financial institution. Peer-to-peer lending eliminates the intermediary but requires more time, effort, and risk than conventional brick-and-mortar lending.

Self-service:

A retail business model in which consumers self-serve the goods they want to buy. Self-service business concepts include self-service food buffets, self-service petrol stations, and self-service markets. Self-service is available through phone, online, and email to automate customer support interactions. Self-service Software and self-service applications (for example, online banking apps, shopping portals, and self-service check-in at airports) are becoming more prevalent.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

Innovative retail banking model:

The design has no resemblance to a bank but more to a coffee shop. There is free wifi and a large number of iPads accessible for internet use. Automated teller machines (ATMs) are located around the perimeter of the coffee shop, allowing customers to conduct financial transactions. The workforce consists of a mix of coffee shop patrons and banking personnel who circulate and make themselves accessible. If you need services not available through an ATM, fully trained bank personnel can offer all services typically available at a conventional bank branch.

Peer to Peer (P2P):

A peer-to-peer, or P2P, service is a decentralized platform that enables two people to communicate directly, without the need for a third-party intermediary or the usage of a corporation providing a product or service. For example, the buyer and seller do business now via the P2P service. Certain peer-to-peer (P2P) services do not include economic transactions such as buying and selling but instead connect people to collaborate on projects, exchange information, and communicate without the need for an intermediary. The organizing business provides a point of contact for these people, often an online database and communication service. The renting of personal goods, the supply of particular products or services, or the exchange of knowledge and experiences are all examples of transactions.

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