Internet finance and financial Internet go by the same way

"Today, the traditional financial institutions have great opinions on Alipay, but in fact, the concern of the banks today is not about Yu-Bao, Alipay and Ali Microtech. Their worries about the Internet have been shifted to some product forms."

At the "Winning China Internet Finance Forum", Hu Xiaoming, vice president of Alibaba Group and chief risk officer of Ali Micro-Financial Services Group, expressed his opinions on internet finance and Alipay business,

Press finishing as follows:

Internet finance and financial Internet go by the same way

In a couple of years, we may not go talk of the so-called internet finance or financial internet because at that time all the banks would agree that the Internet is a tool that must integrate Internet thinking and Internet thinking into the entire financial product innovation. Only a better account of customers.

Today, traditional financial institutions have great opinions on Alipay, but in fact, the concern of banks today is not to worry about the balance of treasure, Alipay, Alibaba, and their concerns about the Internet have been shifted to some product forms.

The Internet is one of the most important inventions in human society after the invention of electricity, and no one can stop it. And we now have only 20% of the value and perception of the Internet.

Without Alipay e-banking will be back 3 to 5 years

Alipay, Yuen Po's contribution to society itself, the financial system innovation, is positive or negative?

Without Alipay, the commercial banking business in China will be back 3 to 5 years old because the entire Alipay contribution to the entire online banking in China is more than 35%. If there is no Taobao, no Alipay, there are not so many customers To go to e-banking, to apply for e-banking, if on today, the bank's counter will be broken, this is not a market efficiency. Similarly, if there is no Alipay, China's overall e-commerce development is not so fast.

If there is no Alipay, based on big data today, based on the cloud computing credit system, nothing else. Alibaba today has provided credit to nearly 900,000 small and micro enterprises, which have not met these small and micro enterprises, as far as Xinjiang, Inner Mongolia, near Hangzhou, Yuhang, Jiaxing, what is the driving force? Data, cloud computing This technological innovation and the power of change will be far-reaching implications for the entire financial reform in the future. I believe that even though banks criticize it, they also need to and need to be aware of the changes they need. This is the voice of social progress. This is China's hope.

The next 12-18 months, a large number of P2P facing the crisis of survival

In the Internet in China, there are a lot of entrepreneurial opportunities for Internet finance in China. After the renovation opportunities, we also see that the entire Chinese Internet finance needs to be introduced today, especially P2P loans. The essence of finance, if it involves credit risk management, must follow the rules and characteristics of credit risk management in finance. In my opinion, it will not increase the so-called evasion of risk because of the internet, and will not automatically offset the risk because of the Internet. Trend or digested the risk. Today we rely on big data, cloud computing to re-evaluate the customer, assess the credit, but in China, a lot of P2P myths, he is driven by the power of capital, but in the next 12-18 months, there will be a large number P2P ushered in the crisis of survival. If you are involved in the financial credit risk, you always have to recognize the fact that the current period of earnings, the so-called return is the interest rate of the current interest rates and loan default lag time gap. You are receiving the Delixi right away, but the risk may come 12 months after 18 months. Many entrepreneurs today have made mistakes in this and they have evolved into illegal fund-raising and have evolved into many risky incidents.

In Wenzhou, a peer-to-peer Hermès boss, driving a car, he believes he succeeded, but the problem lies in his lack of respect for the financial, he did not understand the credit risk, the Internet can not offset the regularity of credit risk , You only honestly according to the core capital adequacy ratio, honestly according to bad debt provisions, you only honestly carry out credit evaluation, is king. So in addition to the passion of the Internet, we need the evolution of Internet finance. Of course, there is no chance in the future? There will be more opportunities