Financial innovation in large data age is promising

In the traditional mortgage-backed banking risk culture, especially at a moment of economic slowdown, China's first unsecured loan has aroused widespread concern in the market. 22nd, Alibaba and BOC, China Merchants Bank, CCB, Ping ' an, postal reserve, Shanghai Banks, Societe Generale 7 Banks announced deep cooperation for SMEs to start the network based on the credit of the unsecured loan scheme-Net Business Loan Advanced Edition, Alibaba through the large data of foreign trade for the enterprise accumulated credit system, including through the customs logistics and other channels to transfer the enterprise nearly 6 months of appropriate trade data, and eventually passed to the bank to achieve lending, commercial banks for the first time based on Alibaba platform large data and credit system to provide SMEs with unsecured credit loans, the highest credit can reach 10 million yuan, interest rate is not higher than 8%.

Such unsecured credit lending is no doubt a model for China's banking innovation business to support the real economy. Earlier, eating spreads had been a major source of revenue for China's banking sector. Lihui, the Governor of Bank of China, has said that most Chinese banks have a 70%-80% share of spreads. Until 2013, when the central bank decided to liberalise lending rates, the steady spreads made it easier for Chinese banks to lay their money and make big profits, even as the governor of a joint-stock bank said the bank was embarrassed to announce a high profit. The days of loans released in response to the crisis in 2009 pushed China's economy to lead the recovery, but also led to an excessive expansion of the property market. A large number of bank loans to enter the real estate sector and local financing platform for the bank's interest income to provide a solid guarantee. A large amount of credit funds into the real estate sector, but also led to the real economy, especially small and medium-sized enterprises in bank loans gradually shrink since 2011, the growing lack of blood. Combined with low collateral value or even lack of collateral, banks are less willing to lend. Even in the macro-control sector, the constant introduction of policies to require banks to support the real economic development, the bank's innovative business still does not involve the real economy. The 2013 monetary policy was too tight, China's economic shortage of money, banking business rapid rise. At the same time, banks still provide loans to the real estate industry through shadow banking channels such as trust, which leads to the breakage of the real economic capital chain, the idling of funds and the increasing of China's economic reality. This year, the macro-control department has two consecutive directional drop, small micro-enterprises financing difficult to raise the problem is still not effectively alleviated. Does banking innovation really have no way to reach the real economy?

In our view, this product is Alibaba in the current difficult export situation and the time to encourage exports, the United Bank increased the Ali network Platform enterprise Financial services capabilities, Alibaba's small loans to supplement the product. But for the bank, it promotes the financial product innovation on the basis of using the third party credit big data, but also controls the risk, provides the reference for other financial business innovation.

First of all, because the export enterprise on the Alibaba platform to leave a historical transaction formed credit record, make up for the Social Credit system development deficiencies. At the same time, these export enterprises in the Aliping stage of credit is also a long-term formation of the Ali platform has a relatively large reliance on the achievements of Ali platform to these enterprises binding, this is the bank to dare through the Ali platform to foreign trade small and medium-sized enterprises to provide unsecured unsecured credit loans are important reasons.