Big Data Internet finance spawned new business logic and format

Securities Times reporter Feng Yao

Yesterday, at the 2014 Annual Meeting of Guiyang International Forum on Ecological Civilization, Wan Jianhua, chairman of Guotai Junan, said: "With the accelerated development of Internet finance and traditional finance, the business philosophy and model of the securities industry will face new challenges and the brokerage firms will be forced to provide a comprehensive Financial Services."

Wan Jianhua said at the forum that big data Internet finance has not only enriched the financial products but also spawned new business logic and formatting. "It can be said that the addition of internet finance from the extension has forced changes in the traditional finance. "

Wan Jianhua analysis said that for the brokerage, the Internet far-reaching impact. "So far, the major income of the securities industry in China still comes from standardization and homogenization businesses. The Internet has the characteristics of rapidly declining transaction costs and has a direct impact on the financial management and product sales of traditional economic businesses." He predicts that over the next few years, the Internet will become more customer-focused, customer-centric, and weaker outlets, gradually changing the traditional boundaries and competitive landscape of the financial and securities industries.

In this regard, Chen You An, chairman of Galaxy Securities also said at the forum, the broker to the modern investment bank change, the need for Internet finance boost. He analyzed that, firstly, the development of Internet finance will greatly affect the function of securities and financial intermediaries. For example, if the future financial license is released, the issuance of stock bonds can be directly operated online. Second, in recent years, the rapid development of Internet finance platform has accumulated more extensive client resources for Internet finance than the traditional securities industry, showing a strong accumulation of data and information. This is bound to challenge the traditional securities company's customer relationship maintenance. "For example, Ali Micro-Credit, People-to-Loan and P2P models are bypassing traditional brokerages and matching investment and financing directly, so the expansion of the traditional securities industry is facing a transformation," said Chen Youan.