Internet Financial entrepreneur Survey: "Caught in" the Nuggets

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When we can only take out 100 yuan to buy a fund on the Internet, when we have 10,000 yuan funding gap can go to the internet to find a stranger to borrow money, when we have 5000 yuan idle funds have nowhere to invest when you can lend 10 people through the internet ... The concept of Internet finance has come.

What is Internet finance? Some people think that finance is the essence, the Internet is the tool and the means. But there are also a large number of Internet practitioners who believe that the internet is not just a tool, they want to use the spirit of the Internet to transform the original monopoly of traditional finance, although the Chinese internet has just started more than 20 years, and the first bank has been in existence for more than 100 years; Internet enterprises are almost "folk small workshop" ...

But most of them, with their egalitarian, open, free, and shared Internet spirit, grow up in the middle of the monopoly of traditional finance, is it subversion or integration or is it simply impossible to challenge?

NetEase technology to find several in the Internet financial tide entrepreneurs, hope to restore this looks like "egg touch stone" industry.

Peer-to-peer: Do you dare to lend money to strangers on the internet?

"I want to buy a piano for my daughter, but the bonus hasn't been made, and there's no more money in the house."

"My Taobao store has to be stocked, but the money has not been withdrawn, the urgent need for 20,000 yuan." ”

"I have 10,000 yuan of idle deposits, bank interest is too low, investment and no door." ”

Is this need to be around you often? Then do you want to go to the Internet to find a group of strangers to borrow money, or dare you on the internet to lend money to strangers?

Like this demand, 6 years in the film on the loan to successfully borrow 650 million yuan, 55,000 people in the Pat loan borrowed money.

Zhang, the first domestic Peer-to-peer network lending platform for the founder and CEO, was a Microsoft's middle managers, entrepreneurship 6 years.

Peer-to-peer refers to a financial model in which individuals provide small loans to other individuals on the basis of a third party platform in the context of charging a certain fee. In the Zhang of technical background, I hope to completely abandon the traditional lending institutions, through the Internet technology to achieve.

The core of the Internet technology is "data", first with the domestic authoritative data center to cooperate, such as the Ministry of Public Security ID Information Inquiry Center, etc., the borrower's information to verify. After verification, the borrower's social circle carries out credit tests, collects and analyzes the data it has left on the network (Weibo, social circle, telephone address, etc.), thus giving the borrower a reasonable credit rating and a secure credit limit. The borrower, however, publishes the borrowing demand through the network platform, and finally completes the loan and repayment by online payment.

This process, if in the traditional lending institutions, it is necessary to staff through the borrower's work unit, home address, Family circle one by one to verify the credit rating, the need for a large team of ground staff.

However, Zhang that through the Internet, can provide a significant risk control efficiency, the future through the data can support the customer must be far more than the current traditional mode. So, there are more than One-third technicians in the 150-person team size.

Of course, you will certainly question whether the credit index obtained by one person on the Internet is reliable. I haven't even seen this guy. Zhang told NetEase technology, he often met the question, he also admits that the current domestic can accept this way of borrowing is still a minority, the market is still in the nurturing stage. But he used an example of E-commerce to give himself and the industry confidence: "In the 2003 just have Taobao, we have to go through the internet with a stranger to buy a thing you have not seen, but 10 years later, E-commerce has changed our lives."

Give Zhang and his team confidence, and this big enough market demand.

In a successful deal on the platform, the average loan amount is only about 10,000 yuan per person. This kind of borrowing demand, to the bank is completely unable to satisfy, because the traditional loan institution must pass the credit examination, the mortgage processing and so on trivial lengthy formalities, in which must pay the manpower and the cost is too expensive compared to 10,000 yuan's loan money, the Peer-to-peer platform has supplemented to this piece of market.

Moreover, in addition to a large number of small micro-enterprises financing, there are billions of dollars in the hands but lack of investment channels of the middle class. Interest on bank deposits now averages around 3%, while inflation is between 5% and 10%. In other words, the real income of the bank is negative, so the folk peer-to-peer rapid development.

Like Zhang's firm belief in "money is smart", it's smart enough to go where it's supposed to go. Data show that by the end of 2013, peer-to-peer network lending market size can be brought to 60 billion yuan.

Of course, opportunities and risk challenges coexist. The idea of not being accepted, the question of policy, Zhang in his six years of entrepreneurial experience with the "treading on thin ice" of these four words, admittedly, even six years later, "the money through the internet to lend to strangers" today seems to still be a very avantgarde thing. However, the progress of the times, always need some of the forward, as Zhang in the letter signed, "I am a broken iron, standing in the forefront of the times, can not only puncture the tires, but also to crack the watermelon." ”

Loan Search: Make bank and customer information equal

Shanghai Zhang This phrase, and far from Beijing entrepreneurial Li Mingshun talk about internet finance, "Mosquitoes and elephants" analogy.

In Li Mingshun's view, if traditional financial institutions are likened to elephants, then internet companies are mosquitoes. Mosquitoes do not bite the elephant, in turn, because the mosquitoes are too small and too flexible for elephants to trample on mosquitoes. But as the number of mosquitoes grows, the elephants will certainly be able to suck the blood out of the elephants without changing them.

He means, at the moment, internet companies ' financial products have limited impact on traditional finance, and it is impossible to subvert traditional financial institutions, but if the tradition fails to adapt to new challenges, small and beautiful internet companies will rely on greater flexibility and innovation to erode the market share that financial giants occupy.

Li Mingshun, who founded four companies, is a senior internet person. This time he cut the dots in finance.

He founded a good credit network is a loan industry search service platform, simply to use the Internet Information platform to help customers and banks more convenient to find each other.

Set up a good loan network inspired by Li Mingshun do Discuz, in the process of dealing with a large number of stationmaster he found that many stationmaster have loan demand in undertaking. But in fact, it is difficult to find the right loan product as quickly and accurately as possible. At present, the country has all kinds of banks about 1200, small loan company 6,500, Pawn 10,000, guarantee company more than 20,000, which each financial institution's characteristics and positioning are different.

For traditional lending institutions, the efficiency of the loan channel is very low, especially telemarketing, the average salesman needs to make 3,000 calls to deal with a business, ROI conversion rate is only 3 per thousand.

This means that it is very difficult to match information between borrowers and lenders. In Li Mingshun's view, "information asymmetry" is the biggest problem faced by traditional financial institutions. And the technology of the Internet, can let this kind of efficiency be optimized.

More importantly, Li Mingshun that the spirit of the Internet has the desire to change the "arrogant" financial sector. In Li Mingshun's view, the core advantage of Internet enterprises is to "user-centric", "you see so many Internet enterprises, almost in a flattering gesture for such a large number of free user Service, but the bank is basically who has the money for who services, the more money to serve the better." "Li Mingshun hope that when the problem of asymmetric information is resolved, traditional financial institutions and customers can truly achieve reciprocal two-way choice."

Although the business model of good Credit network, Li Mingshun has not begun to consider the mature, but he believes that all the Internet products follow the law: only products and services good enough, business model is ripe.

The Chinese Type "network masses": died in the cradle

Zhu, has served as nine cities, gifted friends, Archie Art and other Internet company executives, is the founder of the "U.S. micro-media", China's network of public financing test water first person.

In June 2012, Zhu resigned to start a business, founded "The United States Micro-media", as a former video company executives, his original intention is "to change the existing video transmission mode."

However, like all entrepreneurs, starting a business into a "no money" dilemma, so Zhu began to use their personal relationships to look for investment, but the first payment is only more than 300,000 yuan. So versed in the Internet Zhu thought of the company's original shares on Taobao to sell, Zhu to their own company valuation 20 million, network private, 1 Yuan 1 shares, a shareholder at least subscribe 150 shares.

Zhu said that I thought it was an unreliable thing, want to "get a twenty thousand or thirty thousand lively and lively on the line", but just five days past, through Taobao raised funds reached 380,000, the use of the "network of public" concept, the United States micro-media reputation is also rapidly spread, 11 months later, Through the line online channel to subscribe to the investors reached 1191, the total amount of financing reached 3.87 million yuan.

However, subsequent investigations by the SFC have come about because the Zhu are easily suspected of illegally raising funds. Finally, the SFC based on the Zhu Family, companies, online shop and other aspects of the conclusion is: the United States micro-media does not have the right to public offerings to the community, those who have been negotiated in the industry and commerce registered investors can not be affected, but the funds collected through Taobao must be returned.

In March 2013, investors from Taobao had 359 subscriptions, all of which amounted to 380,000 yuan, and the network was aborted. However, Zhu did not give up the "public" model, he assured the SFC: no longer through the network to issue shares, will guarantee the interests of existing shareholders, and will regularly report to the SFC on the operation of the company. July 20, Zhu summoned the existing 832 shareholders from all over the country held a shareholder meeting in Beijing.

This "network of public chip" let the United States micro-media quickly popular, but Zhu Frankly, "if the supervision is weak, it is easy to be used by some people, become a means of illegal fund-raising." The network of public financing at this stage in China does not really promote. ”

Legally, the definition of illegal fund-raising is not approved by the relevant departments in accordance with statutory procedures, to raise funds to the public in the form of shares, bonds, lotteries, investment fund securities or other debentures, and to commit to the repayment or repayment of money, kind and other means to the investor in a certain period of time.

If it is to be legalized, there are two key factors: the risk of not committing itself to return and the number of shareholders in advance. But even if it can be legal, the long-term credibility of the domestic environment will also restrict the development of public financing. Chinese-style "network public", the way to go is still very long.

Conclusion

The above is a microcosm of how the Internet and finance are permeating each other. Some of them grow up in questioning, some are in the ascendant, others have died. But it is the Internet people in the financial industry innovation to explore a rare step. In the future, when finance encounters the Internet, it can be imagined that in fact more.

For example, the core of financial products such as navigation, access, such as Internet services, such as the current popular global Bitcoin, such as virtual currency, such as the Internet company-led private banks.

Either way, there may be a long and bumpy road to go, but in this time of internal and external change, innovation and revolution, must be the future.