Three essence of Internet finance Xie, deputy general manager of CICC, first proposed the concept of Internet finance

Xie, deputy general manager of CICC, first proposed the concept of Internet finance. Since 2013, the internet financial industry has begun to rise. By combing academic cognition and understanding, the characteristics of Internet finance can be summarized from three aspects.

The first essence is "change the data channel"

We have to open a bank to open the account to buy gold and silver products, and now, we first go to search for loans, financial products, through the official website or flagship stores and other channels to buy. The reason is obvious, modern life is too fast, the cost of going to the bank is higher. Although the electricity quotient only occupies the big retail trade 8%, but the reference Taobao or jingdong such company, actually the scale is still very big. And because the financial products back-end does not need logistics, the future will be more financial behavior online, than the regular meeting than 8%.

The second essence is financial

The nature of internet finance or finance, unlike traditional finance, you can do C2B financial services for customers, also can be better divided, who is paying users, 20% value-added users, who is your 80% free access to users.

The third essence is the platform level

Internet finance has both Internet attribute and monopolistic behavior. For other innovative companies, both Internet and financial attributes are needed. When these attributes are available, the entire Internet finance will form a Matthew effect.

Everyone is now optimistic about including Ali, Tencent, Beijing-east and other financial products. Like Ali has the bottom of the payment and credit, it also has to recruit treasure, Taobao Fund store, financial institutions flagship store, it needs a traffic entry. Tencent has so many QQ users and micro-credit households, his financial management is a good flow of the entrance. Small businesses like this do not provide such a large amount of traffic. This also leads to the current Internet finance more is to move the offline usury loan including the market private loan to the Internet, solves the information opaque and the risk question.

Opportunities for Internet finance

Now more and more entrepreneurs, listed companies, traditional financial companies and real estate companies into the internet finance industry, I think it is based on the opportunities offered by the financial industry.

First, the interest rate marketization. Everyone knows that the interest rate of the loan is marketization, but the interest rate of the deposit is not yet, the bank depends on the survival.

--followed by industry monopolies. The bank monopoly is known to be a big opportunity for Internet catfish, which is why the regulatory layer is relatively inclusive of the entire Internet financial sector. In fact, banks are also looking for financial opportunities in the Internet industry, such as securities, funds, insurance and other market segments, they hope to use the Internet advantage, to regain their market position.

--refactoring business. Now finance is mixed operation, banks can do all other industries, but now the securities industry has the opportunity to invest in insurance industry, insurance money can be diversified investment, increase the income, the Internet provides them with a golden opportunity.

Several models of internet finance

--Third party payment

Third party payments should be divided into individual payments and corporate payments. Enterprise-level is a number of special enterprises to do the flow of funds, the individual is 2C, as long as the user experience to do a good job. The balance treasure do well is benefited from Alipay has about 200 million of the user resources, Tencent finance Qualcomm also in a very short period of time, accumulated more than 10 million of users.

--p2p

Data show 2014 years of more than 200 billion scale. Last year Peer-to-peer market, there are several phenomena.

The first is the entry of the national team.

Including happy loans, including Beijing's public-credit finance and Shaanxi Province.

The second is the influx of listed companies

Recently a Guizhou listed company acquired a peer-to-peer platform for investment loans. At present, some small loans, guarantees, pawn, supply chain financial enterprises want to do peer-to-peer platform. There are many private underground banks, usury, borrowing in the Internet to complete, private lending sunshine is very good phenomenon.

The third is the constant diversification of the asset side

Whether it is Peer-to-peer platform development or ordinary investors want to diversify the asset development, reduce investment risk. Users also want to not only have room to choose the investment of the clock, but also hope to obtain a stable income, which is a feature of internet finance.

There are some platform design is not good, he would like to charge 2 yuan fee, you are to send your users to your competitors, if your competitors can pull down the threshold, you must follow, so I think the fund to solve the problem? The first money is on your platform, or in a third party payment platform account. At present, a lot of Peer-to-peer platform user experience is poor, this is the 2015 need to solve large-scale problems.

The fourth is that peer-to-peer monitoring will increase

Scale growth is bound to bring in troubled waters, 2015 for Peer-to-peer, will be an important wind control year.

2015 a large number of peer-to-peer projects on the line, the scale of growth may be 100%~200%, if the economy falls, will inevitably bring owed loans, factories run. This process will educate the whole investor and tell you what is real finance.

The most typical example is the end of 2014 years, Sina and sohu out of things. Sina and Sohu team do not have too much financial background, Sina is to do bills, Sohu's Guangzhou Some real estate companies did not get the qualification, the understanding of the financial is not very profound, so eat the loss, are big tens of millions of of the list.

Although for Sina, the impact is not big, but for a peer-to-peer, a list of tens of millions of or 100 million of bad debts, equal to a few years of profit was eaten. Now all the Peer-to-peer platform, the entire gross margin is roughly 1~3%, after deducting all the costs, Peer-to-peer platform to make little money. 2015, Peer-to-peer Enterprises in the Internet and the financial end need to strengthen, from the user to design the app, PC-side financial product configuration.

The fifth is to find your own location

With the combination of traditional finance and Peer-to-peer, there is science in playing the money, you must not lose in marketing.

What does the brand do?

The first one to find your own position. For example, a pleasant loan is to do credit loans, and some are to do financial leasing and guarantee companies. Others are specialized in the field of college students, or the financial assets behind you are regional, for example, I am the most cattle small loan company in Henan. Be sure to find your niche in these segments and deliver the message

The second customer, the Internet to join a lot of social, this talent is relatively scarce, brand needs and marketing to do the combination, this is the Internet innovation. P2P2015 years will be a lot of mergers and acquisitions, peer-to-peer through the regulatory and arbitrage space, with more users, to embrace the thigh, to integrate.

The business logic of Internet financial platform

Ali first started Alibaba is business-to-business, in Consumer-to-consumer Taobao process, need to guarantee transactions and trust, have Alipay, and then there is the day cat.

In this process, the first Ali to solve is an information layer and capital flow of a problem, and Jingdong compared to Ali lack of a logistics, so Ali through the rookie network to solve the problem of logistics end. Then through the acquisition of a map of gold, to help Ali manage the delivery address, Taobao mastered the people's mobile phone, telephone and address. The location is very helpful for the entire life service, including O2O, life and physical electronics dealers. So Ali acquisition of the gold map has two meanings, the first is a complete map address information system, the second can rely on maps to complete a lot of O2O life service things. Another, Ali invested in a number of logistics companies, you can grasp the number of goods sold in the end.

Alipay is very cattle is its data, according to data, his future consumption is expected and judgment, can better do the back-end of the agreement deposit. And according to Alipay so many years of data, there are a large number of shopping based on the data and real-name account system can rely on to do the credit industry.

Now the entire Chinese credit industry is 2 billion ~30 billion, there are forecasts that the future will be billions of dollars, it has grown 80 times times even 100 times times the size. Ali did the credit, whether it is peer-to-peer lending, personal risk assessment, or small and medium-sized enterprises have to have a report, for Ali is monopoly income. For entrepreneurs, if they are bought by a giant, they will have access to some financial freedom.

How to look at several major products on the market

--Ali

Ali wants to do one is to pay, credit is the basis, the entire user has loyalty to him, the annual turnover is growing; the second is Alipay or the entire Ali IT system should be able to cope with peak visits to billions, as well as security capabilities, peak access capabilities Alipay and Tencent do very well.

His cloud-based IT architecture is doing very well, and he's going to buy constant-lift electrons. Hengsheng Electronics from the financial IT products, in the Fund and securities accounted for the financial share, its share is 70%-80%, and some segments of the industry is 90%.

Rural credit cooperatives are weak in bank it, but Ali has the ability to provide IT solutions to these small and medium-sized banks. With the outbreak of rural finance, the demand for cloud computing backend systems is high, the data storage capabilities on mobile phones and pad are based on backstage, so this is an opportunity for cloud computing. Relying on the Internet traffic to do traffic and import, only Tencent and Ali can do, for large traffic monopoly company Baidu can also, other Internet companies it is difficult to do this thing.

--Ping An

Ping a full license, you can do a variety of product sales, it has a ledger and Wanli, is an account binding more than one bank card, transfer is OK. It starts from the financial product, solves the user demand. He designed the entire subdivision area, in the process of selling the house can make personal loans. Ping-an good car is to do the car's consumption and car insurance, the back end can also be for each brand 4S shop layout. Ping An is one of the most embraced by the Internet in traditional finance companies, especially among banks.

--Tencent

A simple look at Tencent product layout: One is a micro-letter is a QQ wallet.

The micro-circle is a 123-line user, QQ wallet hope Circle is rural and 345-line city, micro-letter has at least one billion real name repayment users, the official announcement is 500 million users, QQ wallet, mobile phone QQ is also hoping to have hundreds of millions of users, Tencent has a social, credit data.

After so many years of social data accumulation, the chat process will reveal your identity card number, of course, Tencent will not have the identity card number and bank card number out. But once he does social finance, I buy a house, I want to also loan, can in Tencent, know me, or indirectly know me, give me credit scoring, according to do a small loan business.

QQ Wallet and micro-letter both received a wealth management, it hopes to become a financial products platform, the backend docking is the various financial products. I think on the internet, selling financial products to do supermarkets this road is wrong, must do a selection. Because financial products are actually very professional, there are a lot of information asymmetry, it is difficult for users to determine whether a financial product is not suitable for their own risks. Tencent Optional stock is relatively good, it will also be in the future with a circle of friends to discuss each stock, called the stock circle, it is the opportunity to change the flow of information layer into the flow of trading layer, to do online accounts, engaged in Internet brokerage things.

--the opportunity of Beijing East public to raise

Jingdong has five major plates, the platform is the flow of information flow and logistics are in their hands, the supply chain logistics is very clear.

For example, a seller in Beijing on the east last year sold 10 million, I put 3 million of the goods in Jingdong warehouse, I can be based on the amount of storage to do lending, according to the accounts receivable to do the traditional finance, this is a peer-to-peer relatively simple model. The other good model is that the Beijing-east side of the SME financing needs of the platform, and then put the debt to the C-end consumers. Consumer finance in Beijing east is called "White Stripes", there is for white-collar workers, as well as for the campus.

Beijing east to do consumer finance, one is to do a phased shopping to strengthen the sale of goods, there are data show that the use of white goods users of this product, orders increased by more than 50%, the mall in kind, the electric dealer has a very large sales promotion role. Even if finance does not make money, it can earn money by selling goods and growing in size. The other one, 3C product single value is higher, if do white stripes, to jingdong very beneficial. NET Silver Wallet is the purchase of a third party in Beijing east of the company, it will be similar to the balance of the product called the Treasury, will also do other including bills, including financial products.

Beijing East Public raised 2014 very fire. Jingdong Many brands above are 3C culture publishing, intelligent hardware is very much.

Why does Jingdong have to make smart hardware? The first is that Jingdong itself is a 3C, intelligent hardware is the continuation of 3C, can be repeated to attract customers to the smart hardware products; second, it can go to occupy the flow of the entrance, because the future is from the phone to the end of the smart hardware; third, smart hardware is the trend, Jingdong in 3C sales can help a lot of smart hardware team drive sales.

Beijing East do a number of major benefits: first, to drive the sales of Jingdong Mall; The second brings many new users, enhances user activity and stickiness, increases female users in addition to male faces, and third, by raising the circle of emerging entrepreneurs.

Although the cultural publishing market is relatively narrow, but it can circle some of the higher education level, the consumption of strong users (love reading people, earning capacity will be relatively high). If the BoE in the cultural publishing industry through the public to explore a number of new models, clustering of C-end users and industry resources, the future more willing to pay users will come to his platform.