Though fairly young, fintech in China has really taken off the last few years as Yihan Fang, CEO of Yirendai explained in her LendIt USA 2017 Keynote; when compared to other industries like insurance, fintech has shown a great deal of promise; payments have become widespread, online lending is growing steadily and new technologies like blockchain have taken off; this has allowed Yirendai to help the underbanked and create a credit data infrastructure; after a few high profile fraud cases the government has started to regulate the industry closely and the number of lenders has been consolidated; Yihan is optimistic about the future, she expects to be lending $15bn per year by 2020 and hopes to increase the average AUM of each high net worth investor on their platform.