Jiayin Group Inc. (JFIN): Business Model Canvas [Dec-2025 Updated]

You're digging into the engine room of a major Chinese fintech, Jiayin Group Inc. (JFIN), trying to see past the headlines to where the actual value is created. Honestly, after mapping these structures for years, what stands out here is the disciplined execution: they are connecting underserved borrowers with 75 funding partners using proprietary AI that keeps their 90-day+ delinquency rate impressively low at just 1.33% as of Q3 2025. That focus on quality, backed by 78.6% repeat business, helped drive facilitation revenue to RMB 1,220.7 million that quarter alone, setting them up for that RMB 1.99-2.06 billion operating profit guidance for the full year. Keep reading below to see the full nine blocks of their Business Model Canvas, showing exactly how they structure their key activities and channels for this overseas push.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Key Partnerships

You're looking at the core of Jiayin Group Inc.'s (JFIN) stability-the funding and acquisition channels that keep the platform running smoothly, especially as the regulatory environment shifts. Honestly, in this market, your partners are your moat.

The foundation of Jiayin Group Inc.'s (JFIN) funding strength rests on its established relationships with institutional capital providers. As of the third quarter of 2025, the company confirmed it maintained cooperation with 75 financial institutions, which provides a solid base for a stable funding supply. Furthermore, Jiayin Group Inc. (JFIN) is actively working to expand this base, reporting that there are an additional 64 financial institutions currently under negotiation. This dual focus-maintaining current stability while aggressively pursuing new capital-is key to navigating liquidity concerns.

The strength of these relationships is evidenced by the fact that the company has been included in the white list by most of its partner financial institutions. This status is crucial for ensuring continued, reliable access to funding, especially following the implementation of new loan facilitation regulations in October 2025.

For new borrower acquisition, Jiayin Group Inc. (JFIN) relies on a diversified partnership ecosystem, leveraging leading Internet platforms and scenario engagement to reach targeted traffic channels. To give you a concrete sense of this, in the second quarter of 2025, the company noted launching joint operation projects with over 10 banks and consumer finance companies to enhance resource integration and risk control modeling. This strategy directly supports their goal of multipoint borrower outreach.

The expansion strategy is also heavily reliant on overseas partners. Jiayin Group Inc. (JFIN) has established a strong presence in international markets, with significant growth potential noted in specific regions.

Here's a quick view of the partnership landscape based on the latest reported figures:

The company actively enhances its funding partners' capital allocation efficiency by deploying its technological strength, risk management capabilities, and risk control expertise. This makes Jiayin Group Inc. (JFIN) a more attractive partner for capital deployment.

Also, remember that the share of loan facilitation volume attributed to repeat borrowers rose to 75.6% in Q2 2025, up from 71.9% the prior quarter, showing that their acquisition and retention efforts, supported by these partnerships, are working to boost borrower stickiness.

Finance: draft 13-week cash view by Friday.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Key Activities

You're looking at the core actions Jiayin Group Inc. (JFIN) takes to run its business as of late 2025. These activities are heavily weighted toward technology integration and navigating a tighter regulatory landscape in China.

Loan facilitation and matching services

The primary activity is connecting individual borrowers with financial institutions. This is measured by the total value of loans arranged on the platform. For the third quarter of 2025, Jiayin Group Inc. facilitated a loan volume of RMB 32.2 billion (US$4.5 billion), which was a 20.6% year-on-year increase. The average borrowing amount per loan rose by approximately 19.5% year-on-year to RMB 9,115 (US$1,280) in Q3 2025. Repeat borrowers were a significant source of this volume, constituting 78.6% of the total facilitation volume in Q3 2025.

The full-year 2025 projection for loan facilitation volume is set between RMB 127.8 billion and RMB 129.8 billion, representing an expected annual growth of approximately 26.8% to 28.8%.

Proprietary risk assessment and credit modeling

Jiayin Group Inc. relies on a proprietary risk assessment model using advanced big data analytics. Maintaining credit quality is key, especially given the industry changes. The 90-day-plus delinquency rate stood at 1.33% at the end of Q3 2025, a slight increase from the 1.12% reported in Q2 2025. The company's strategy emphasizes high-quality borrowers, evidenced by the high repeat borrower share.

The financial outcome of this activity shows in the profitability metrics. Non-GAAP income from operation for Q3 2025 reached RMB 490.6 million, marking a 50.3% year-on-year increase. The full-year non-GAAP operating profit guidance projects growth between 52.3% to 57.6%, targeting RMB 1.99 billion to RMB 2.06 billion.

AI development and deployment (4+2 strategy)

Jiayin Group Inc. is advancing its 4+2 strategy, which involves focusing on four major application directions and leveraging two key infrastructure platforms to upgrade AI models. This is a major operational focus, as seen in R&D spending. Research and development expense in Q2 2025 was RMB 108.4 million, an increase of 16.8%.

The deployment includes specific tools that drive efficiency:

• Deployed over 200 AI agents.
• Integrated a data intelligence assistant.
• Reduced operating costs by 53.1% due to automation in Q2 2025.
• In-house models reduced costs by over RMB 1 million.

Regulatory compliance and risk control iteration

Iterating risk control models is a continuous activity to align with new regulations, such as China's "same business, same rules" policy. The company rapidly iterated its risk control model to tighten strategies for high-risk users. A key success metric here is the speed of fraud detection, which was compressed from a week to within two hours due to AI advancements. Furthermore, the multimodal anti-fraud system blocked 320,000 malicious applications in 2025.

Overseas business expansion and localization defintely

Jiayin Group Inc. is actively expanding and localizing operations outside Mainland China, with specific focus areas mentioned. The overseas business scale in Indonesia nearly tripled year-on-year, with the number of borrowers in that market increasing by approximately 150%. Mexico is also noted as an area of overseas expansion. This expansion is a core activity aimed at securing growth outside of the increasingly regulated domestic market.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Key Resources

You're looking at the engine room of Jiayin Group Inc. (JFIN), the assets that let them operate in a complex regulatory space. Honestly, the real value here isn't just the cash sitting in the bank; it's the proprietary tech that keeps the whole machine running securely and efficiently. They've put serious money into their infrastructure, which is key to maintaining quality facilitation services.

The technological backbone centers on their risk management capabilities. They operate a highly secure and open platform built around a proprietary and effective risk assessment model. This model uses advanced big data analytics and sophisticated algorithms to accurately assess borrower risk profiles. Furthermore, they've made significant advances in AI, deploying multimodal anti-fraud systems and implementing in-house models to boost operational efficiency.

Here's a quick snapshot of the hard numbers backing up these resources as of the end of Q3 2025:

That stable funding supply you mentioned is directly tied to their partner network. Jiayin Group Inc. has maintained cooperation with 75 financial institutions, and they were actively negotiating with another 64 institutions during the period. Being included in the white list by most of these partners is what provides that solid foundation for securing funding, which is crucial for scaling loan facilitation volume, which hit RMB 32.2 billion in Q3 2025.

On the liquidity side, you need to watch the cash position. As of September 30, 2025, Jiayin Group Inc. held RMB 124.2 million in cash and cash equivalents. That's down from RMB 316.2 million at the end of the previous quarter, so you'll want to track that liquidity trend against their projected full-year volume of RMB 127.8 billion to RMB 129.8 billion.

Finance: draft the 13-week cash flow view incorporating the Q4 guidance by Friday.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Value Propositions

You're looking at the core benefits Jiayin Group Inc. (JFIN) delivers to its distinct customer segments. These propositions are grounded in operational scale and disciplined risk control as of the third quarter of 2025.

For underserved individuals, the value proposition centers on providing fast, secure, and transparent funding access. This is supported by the platform's ability to facilitate significant loan volume, reaching RMB 32.2 billion (US$4.5 billion) in the third quarter of 2025 alone. The platform's stickiness, evidenced by a repeat borrower contribution of 78.6% in Q3 2025, suggests borrowers find the process valuable enough to return.

For funding partners, Jiayin Group Inc. (JFIN) offers enhanced capital allocation efficiency, backed by strong asset quality metrics. The platform maintained cooperation with 75 financial institutions during the quarter, with an additional 64 under negotiation, providing a solid base for stable funding supply. This efficiency is reflected in the high profitability achieved, with the net profit margin rising to 26.2% over the past twelve months ending Q3 2025.

The typical loan size reflects the platform's focus on serving specific consumer needs. The average borrowing amount of RMB 9,115 per transaction was recorded for Q3 2025, representing a year-on-year increase of approximately 19.5%. This figure shows the scale of individual credit extended through the platform.

Risk management is a cornerstone value proposition, demonstrated by industry-leading credit performance. Jiayin Group Inc. (JFIN) maintained a low 90-day+ delinquency rate of 1.33% as of September 30, 2025. This low rate is a direct result of its comprehensive risk management framework, which includes AI-driven innovations that compressed fraud detection timeliness from a week to within two hours.

Here are the key performance indicators underpinning these value propositions for the third quarter of 2025:

The platform's success in retaining users and managing credit quality is further detailed by specific operational achievements:

• Net income growth of 39.7% year-over-year for Q3 2025.
• Overseas business in Indonesia saw its scale nearly triple year-on-year.
• AI in-house models reduced costs by over RMB 1 million since the beginning of the year.
• Net revenue was RMB 1,470.2 million for the quarter.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Customer Relationships

You're looking at how Jiayin Group Inc. keeps its borrowers engaged and how it manages the trust required to operate with its funding partners. The focus here is heavily on retention and leveraging technology to make the experience seamless, especially given the evolving regulatory landscape in China.

Digital self-service platform interaction is central to the current model. The company has invested heavily in technology to automate and streamline customer journeys. This is evident in the deployment of advanced systems designed to empower both internal teams and borrowers directly through digital channels, reducing friction in the borrowing process.

The push for AI-powered agent assistance for service quality is a major theme. Jiayin Group Inc. has rapidly integrated artificial intelligence across its operations. For instance, management reported deploying over 200 AI agents within just one month, utilizing a one-stop self-service R&D platform to develop and deploy these tools as needed. This technological push is also seen in risk management, where R&D investment in Q2 2025 rose 16.8% to RMB 108.4 million.

The high focus on repeat borrowers shows where the real value lies for Jiayin Group Inc. The company prioritizes keeping existing, proven customers active. In the third quarter of 2025, repeat borrowers contributed 78.6% of the total loan facilitation volume. This is a significant increase from 71.9% in the first quarter of 2025. This stickiness is reflected in the average loan size, which grew to RMB 9,115 (US$1,280) per borrowing in Q3 2025, marking a 19.5% year-on-year increase.

Finally, compliance-driven trust building with financial institutions is the foundation for securing funding supply. Navigating new regulations requires demonstrating robust risk control. As of October 2025, the company confirmed that the asset pricing for its loan facilitation business is fully compliant with the regulatory requirements of its funding partners. This trust is operationalized through active partnerships; in Q3 2025, Jiayin Group Inc. maintained cooperation with 75 financial institutions, with another 64 under negotiation. Most of these partners have included Jiayin Group Inc. on their white list, which is critical for stable funding.

Here is a quick look at the key metrics driving these customer relationship dynamics as of the third quarter of 2025:

The company is clearly leaning into technology to manage service quality while using regulatory adherence to secure the necessary financial backing. Finance: draft 13-week cash view by Friday.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Channels

You're looking at how Jiayin Group Inc. gets its services to market as of late 2025. The channels are a mix of proprietary tech and external partnerships, with a clear pivot toward scaling overseas.

Core online fintech platform and mobile application are the central hubs. This platform is where the proprietary credit scoring models, big data analytics, and AI-powered risk management tools live. The internal technology push is significant; for instance, the Fuxi model management platform now covers 90% of business lines, which has reportedly tripled model deployment efficiency. Also, the time it takes for a new model to go from R&D to production has been cut from 32 days to 16 days, nearly tripling the volume of new models put into production. By Q2 2025, the company had deployed over 200 AI agents. Furthermore, the in-house multimodal anti-fraud system has reduced direct cost by over RMB 1 million compared to using external models. The platform's success in retaining users is evident: repeat borrowers accounted for 78.6% of facilitation volume in Q3 2025. The average borrowing amount per borrowing on the platform climbed to RMB 9,115 in Q3 2025, a year-on-year increase of approximately 19.5%. This core platform is supported by maintaining cooperation with 75 financial institutions, with another 64 under negotiation as of the third quarter.

For borrower acquisition, Jiayin Group Inc. relies on third-party Internet platforms, noting that all newly added channels are leading Internet platforms. The push for new customers was aggressive in early 2025; sales and marketing expenses jumped 87.5% year-over-year in Q1 2025 as the company ramped up efforts. This led to new borrowers contributing 28.1% of total loan volume in Q1 2025, a notable shift from the 71.9% share from repeat borrowers in that same quarter. By Q3 2025, the sales and marketing expense was reported at RMB 544.2 million (US$76.4 million), showing a slight decrease of 1.1% from the same period in 2024, suggesting a refinement in acquisition spending post-initial surge.

Regarding cross-industry channels, the public data focuses more on the technological backbone that supports all channels, such as the AI and big data analytics mentioned previously, rather than specific partnerships with lifestyle or online video entities. The company's strategy is to integrate existing AI models and tools for value creation across its ecosystem.

The dedicated overseas market platforms are a major growth engine. Indonesia, in particular, showed outsized momentum. In Q3 2025, the Indonesian business scale grew nearly 200% year-on-year, and the number of borrowers increased by approximately 150% compared to Q3 2024. This growth led to a capital injection where Jiayin Group Inc. acquired a stake of more than 20% in the local Indonesian operator. Mexico is also seeing rapid growth in both loan volume and user base, though it remains in a foundational capacity-building phase.

Here's a quick look at the volume and user metrics across the key periods:

Finance: finalize the Q4 2025 cash flow projection based on the RMB 124.2 million cash balance at the end of Q3 2025 by next Tuesday.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Customer Segments

You're looking at the core clientele Jiayin Group Inc. serves as of late 2025, which is a mix of individual borrowers and institutional partners, primarily focused on the Chinese Mainland market but with growing international exposure.

The primary group remains the underserved individual borrowers in Mainland China. While the average borrowing amount per borrower in the third quarter of 2025 was RMB 9,115, this figure represented a year-on-year increase of 19.5%. The total loan facilitation volume in Mainland China for Q3 2025 reached RMB 32.2 billion.

A significant portion of the business is driven by established users. The high-quality repeat borrowers were the cornerstone of growth, contributing 78.6% of the total loan facilitation volume in the third quarter of 2025. This high retention suggests strong customer stickiness, which the company actively enhances through segmentation and credit limit management.

Jiayin Group Inc. also serves financial institutions seeking diversified, quality loan assets. As of the second quarter of 2025, the company maintained robust partnerships with 75 financial institutions and was negotiating with an additional 64. Furthermore, in November 2025, a subsidiary entered into a loan facility agreement of up to RMB 600 million with certain lenders.

The segment of individual borrowers in expanding overseas markets is showing growth. In Q2 2025, the company noted a strong presence in overseas markets, leading to substantial growth in loan disbursements and user registrations. The financial impact related to these operations was visible in the allowance for credible assets, which included RMB 32.5 million related to overseas guarantees in Q2 2025.

Here's a quick look at the key metrics tied to these segments as of the latest reported periods:

You can see the reliance on established users is very high. Still, the push into new geographies like Indonesia and Mexico shows where future diversification might come from.

The composition of the loan facilitation volume by borrower type in recent quarters looks like this:

• - Repeat Borrower Contribution (Q3 2025): 78.6%
• - Repeat Borrower Contribution (Q1 2025): 71.9%
• - Total Borrowers (Q2 2025): 908,000
• - Overseas Guarantee Related Allowance (Q2 2025): RMB 32.5 million

Finance: draft 13-week cash view by Friday.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Cost Structure

You're looking at the cost side of Jiayin Group Inc.'s (JFIN) engine as of late 2025. Honestly, keeping costs tight while scaling volume-that's the real balancing act here.

The third quarter of 2025 shows where the RMB is going. We can break down the major operating costs right now:

Here's the quick math on the key expenses for Q3 2025:

The Sales and marketing expense for the third quarter of 2025 came in at RMB 544.2 million. That's actually a slight dip, down 1.1% compared to the same period last year. It seems like Jiayin Group Inc. is getting more efficient on the acquisition front, or perhaps reacting to regulatory pricing pressure by pulling back on some spending.

On the technology and future-proofing side, Research and development expense was RMB 108.7 million for the quarter. This reflects a 13.3% year-over-year increase. Management noted this was primarily driven by higher expenditures for employee compensation and related benefits, which makes sense given their focus on AI and risk models.

You asked specifically about Facilitation and servicing expenses. For Q3 2025, this figure was RMB 286.5 million. What's interesting is that this is substantially lower than the RMB 419.1 million reported a year earlier. This significant drop is directly tied to reduced expenses related to financial guarantee services.

Then we have the overhead, the General and administrative expenses. This hit RMB 72.4 million in Q3 2025, marking a 29.0% increase year-over-year. The primary driver for this jump? Higher share-based compensation costs.

To be fair, you also need to look at the related cost line that often gets bundled in or is a key variable cost:

• Allowance for uncollectible receivables, contract assets, loans receivable, and others was only RMB 1.5 million, an 87.1% decrease year-over-year.
• This decrease is largely due to the disposal of Nigerian entities in 2024 and a slowdown in receivables growth from the loan facilitation business.

Finance: draft 13-week cash view by Friday.

Jiayin Group Inc. (JFIN) - Canvas Business Model: Revenue Streams

You're looking at how Jiayin Group Inc. (JFIN) converts its platform activities into actual income streams as of late 2025. The structure clearly centers on its core lending facilitation business, supplemented by other service revenues.

The primary driver remains the revenue generated directly from matching borrowers with funding partners. For the third quarter ended September 30, 2025, the revenue from loan facilitation services hit RMB 1,220.7 million. This represented a 10.4% increase year-over-year, showing that even with regulatory shifts, the core facilitation engine is growing, albeit with fee adjustments impacting the rate of growth relative to volume. This stream is the backbone; everything else supports it.

Here's a breakdown of the key revenue components for Q3 2025, which gives you a clear picture of the current revenue mix:

• - Revenue from loan facilitation services: RMB 1,220.7 million
• - Revenue from the release of guarantee liabilities: RMB 151.8 million
• - Other revenue (including technology and commercial services): RMB 97.7 million

The total net revenue for Q3 2025 was RMB 1,470.2 million, a modest 1.8% increase from the prior year period. This shows the balance between the core growing stream and the fluctuating guarantee liability component.

Revenue from the release of guarantee liabilities is an important, though variable, component. In Q3 2025, this stream contributed RMB 151.8 million. Honestly, you need to watch this one closely; it decreased from RMB 251.7 million in Q3 2024. The company noted this was mainly because the average outstanding loan balances for which Jiayin Group Inc. provided guarantee services went down. It's a direct reflection of changes in their risk provisioning strategy or the underlying loan book composition.

Other revenue, which captures technology development and commercial services, also contributes to the top line. For the third quarter of 2025, this amounted to RMB 97.7 million, up from RMB 87.5 million in Q3 2024. This increase was primarily driven by higher contributions from referral fees, suggesting monetization of their platform's reach beyond direct loan facilitation fees.

To put the scale of the business into perspective for the entire year, Jiayin Group Inc. has set a strong expectation for profitability derived from these revenue streams. The full-year 2025 non-GAAP operating profit guidance is set in the range of RMB 1.99 billion to RMB 2.06 billion. This guidance reflects expected growth of approximately 52.3% to 57.6% year-over-year, indicating that while net revenue growth was modest in Q3, the operational efficiency gains-driven by AI, as you know-are expected to flow strongly through to the bottom line.

Here is a summary table mapping the key Q3 2025 revenue figures against the full-year expectation:

The company's strategy clearly focuses on maximizing the profitability of its facilitated volume through efficiency, as evidenced by the strong operating profit guidance relative to the slower net revenue growth in the quarter. Finance: draft 13-week cash view by Friday.