Chinese financial technology companies could expand the lendable population from around 200 million creditcard-carrying prime borrowers to around 800 million, according to the latest report of global consulting firm Oliver Wyman.

The report said big-data analysis, the internet of things, and blockchain are the three technologies with the greatest potential, owing to their ground-breaking capabilities to acquire, assemble, analyze, and apply information. Data treatment and information processing are at the heart of decision-making for financial services, especially in China.

Blockchain uses a cryptographic network to provide a single source of truth, enabling untrusting parties with common interests to co-create a permanent, unchangeable and transparent record of exchange and processing without relying on a central authority.