Li Peng, pioneer Finance: How to make Internet of financial industry

December 12, the world's first large-scale conference to explore the industry Internet, 2014 CVW. The industry Internet conference was held in Beijing and was synchronized through the big screen of New York Times Square. The conference was made by the Asia Letter Group, the cloud base and the Chuang-Zhuang economic and Technological Development zone jointly hosted more than 5,000 global it and traditional industry leaders and elites who are concerned about the development of Internet and traditional industries, and explored the evolution of "Internet access to traditional industries", "traditional industry internet" and the technological model and business innovation of industrial Internet.

At the afternoon financial @ internet forum, CIO Li Pengliang from Pioneer Finance made a keynote speech.

The following is the full text of his speech:

Li Peng: I'm trying to finish it for you in a given time, my name is Li Peng, I am Vanguard Financial Group's chief information officer, at the same time is a cloud line of Internet Technology Co., Ltd. CEO, the relationship between the two companies can be likened to the relationship between Ping an technology and ping An group, we are very equal, of course, we are not so large volume. Today, the subject of the Internet of financial industry, I did an industry and internet exploration and practice, divided into several processes to speak. First look at the Pioneer Financial Group, many of you are unfamiliar with our brand, you may know, the public network, network letters, and so on, many people may have used, relatively unfamiliar to the pioneer. We are founded in 2003, the group in Beijing, is an integrated financial services group, we have three business sector direction, traditional finance, internet finance and lifestyle. This is for many friends to say you a financial company why do lifestyle? In fact, I will also discuss the following. In fact, what do we think finance ultimately is for? What do people make money for? is to make life better, and earning money is not an end in itself. So it is our understanding that we want to make your life better by earning the money, so we have a piece of layout, called lifestyle. In addition to mainland China in Hong Kong and Singapore and other places have some layout, our second headquarters in Hong Kong.

So here you see the financial, Internet, lifestyle, three business blocks. Actually the color is a little bit fastidious. Finance is the traditional finance, the equivalent of the Red Sea, lifestyle is equivalent to blue, the Internet because of active and grassroots marked yellow.

From our system, the so-called 1367, the group is a, three business direction, we have six sub group, combined currency is retail finance, industrial finance, network letter Many people know is internet finance, we have pioneer investment and pioneer International, corporate Finance Group. Seven we have a large area, Shenzhen, Dalian, Shandong, Shenyang, Tianjin, Shanghai, Hainan, this is our layout.

A brief introduction of the pioneer finance I cut into the topic, Internet finance from last year, said this year, many topics have been too many times, such as Peer-to-peer, public chip, Third-party payment, this is the hottest three topics. So today I don't think from this point of view, I would like to say another point of view. Because pioneer finance we have more than 20 of the industry. So I can fully meet the theme of the Conference, that is, how the industry Internet, we choose our business to share with you.

Let's first look at our first mortgage, which is basically established this year. We and the Sino-Union real Estate joint venture, is the O2O pattern, the line has a part, the line has a part, the turnover now has exceeded 1.5 billion. It has its own advantages, innovative financial products, credible financial credibility, risk pricing and control capabilities. Any financial control of the wind is a kind of instinct, this is necessary. Leading technical strength, many of our IT personnel from Sina, Baidu and so on, the leading financial strength and resources. Our company three directions, we are not internet companies to do internet finance, we originally do traditional finance, our capital operation, the financial wind control and operations have a relatively deep understanding. This is its business model, we can simply look at the time relationship is not detailed. Here is the investor, the money side, the borrower. Borrowing this time easy to create a disagreement, this side is loaned, this is real borrowing, he came to apply for a mortgage, Third-party payment company to do trusteeship, this side is guaranteed. Loans in the middle, principal interest, is a typical mortgage model. I come up today because it is in keeping with the theme of today's Congress, this kind of mortgage is a very traditional model of the bank, but now we are using the Internet model to do, the money is actually put on the internet to invest, so this is not the same as the traditional, and we through third-party payment to host, and then there are guarantees, This is a typical Internet approach to traditional mortgages.

We also have a car loan, talk about the mortgage I give another example car loan. China's first automotive Internet financial Services platform, is to do for the automotive industry chain to provide tailor-made automotive Internet finance, in order to Silver Bell China's automotive Internet financial development, to build a viable automotive industry circle. The reason to do this is to see the current situation of the automobile mobile industry, the details do not say. We think that China in the future of second-hand cars in fact will be more and more prosperous, because our country and traditional Western countries just have a generational difference, when they enter the second-hand market is very developed when we are basically a new car, but the new car walk in a few years will form a huge second-hand market. Look at the United States, look at North America, I have been in the United States, I know their second-hand market is very large. For example, a number, 2015 new car is 30 million, used cars are 10 million, 2020 new cars and used vehicles have reached 3500, 30 million is a threshold, is basically flat, the latter part of the market is driven by second-hand cars, this is its model, for dealers to do some loans here. This loan is the financial industry has a lot of terms such as consumer loans, currently it is doing the best business loans, second-hand car dealers, rather than consumer cars. Of course, now also began to do for second-hand car consumption of consumer loans, China's second-hand cars are not standardized, guests have talked about the small micro-business accounts are unclear, whether subjective or objective, so he took that thing to bank loans almost no door, many second-hand car dealers are individuals and the company account, there are couples shop , I take a little car today, you this car worth how much money, I direct to you dozen how much money, the car belongs to me, do formalities. So these people to the bank can not borrow money, but he has this demand, used cars and new car is not the same, but not to be asked. So this is a good opportunity. This model is also made into an internet model. Funds are basically from the Internet, is actually from us, because our group has a lot of industry, the actual formation of the group under the financing, it is a lot of money is our peer-to-peer melt, today I do not talk about Peer-to-peer, just mention.

The right also formed an equivalent of the ecological circle, a lot of money is from the internet finance this peer-to-peer to solve, this is its a cooperative model. This is the automotive industry's own services over the years, just talked about car dealers, used cars, also do not exclude new cars, but second-hand development faster. Then some customers, corporate customers and individual customers. Mentioned that individual customers have such a consumer loan can also be done, the vehicle mortgage loan and so on, can be done. So just now, this is a platform for the Internet, asset-side, car operators and consumers, the capital is personal investors, institutional investors, through the internet way to hand money and market end. And its wind control is doing very very well. I would simply say that this PPT may not be apparent.

Wind control for doing finance, just talked about is that we attach great importance to, just before the guests also talked about, the financial light on the rate of return does not say wind control is bullying, I totally agree with this sentence. The first car was a very good loan, for example, your second-hand car factory to loan 20 million, you need to take the existing cars to do the mortgage, they have a car test, and after the test you want to loan 10 million you have to more than 10 million, we give the actual proportion is to bet you 1 million you can only borrow 800,000, that car how to bet? is electronic fencing and satellite positioning. Sometimes customers come to the fancy of this car, this Audi is particularly good, then you say this mortgage can not drive away, you can change. Take a car more than equal to its value, in exchange for the pledge to sell customers, do not have a bad account, the overall wind control done well.

Time relationship is not much said, so the previous talk about the mortgage, car loans, simple to see how should these, the traditional industry internet. Here we look at an interesting, today, the drop of a taxi, very eye-catching. We have a AA car rental, a lot of people get easy way, this is similar to it, we call AA. This AA is not on behalf of each of us to pay the bill, called the AA at any time, not a AA system. It is an app, it is also considered how to rent a convenient car, you know, the Beijing lottery is almost impossible, taxi experience is also poor, and some cars are not, because Beijing cars are modern, not to belittle the modern, is to locate that grade. Drip and fast are for the existing car rental companies, unlike ours. Then see the market after so proposed a AA car rental calendar year, can do business trip, daily travel and family travel in all aspects. This is our own, I basically inseparable from, I have a car, but sometimes their own inconvenient, one is limited number, then the airport, you do not want to stop there. So I am now a AA because it is very convenient. It just presses a key to call the car, and can give you an experience, I will ask three questions in a moment, give three experience coupons to answer questions. All kinds of scenes are very convenient, our cars are high-grade, with the Shenzhou rental is not the same, our best car is Tesla, we booked 100 Tesla, take this coupon can experience Tesla, starting price is not expensive, probably more than 40. The morning brother Guodong to visit, he brought the industry alliance more than 10, I was a bit addicted to a bit Tesla. This model is more high-end, because a lot of business people will care about this, for example, the service inside, free mineral water, even the car has slippers or something, the service is very good, this is its billing method. It is an intelligent scheduling, this is back to the Internet to do the car rental. There are a lot of big data patterns behind it, and it's possible to know where the car should go, so you can reduce the drop in one minute, and it melts 700 million dollars without a place to burn.

There is a little time for me to speak quickly, just now I said that our three very traditional industries, car loans, mortgages, car rental, in particular, car rental, is very traditional, you can see can be a good internet. We see that if we want to think about the problem from a higher level, we have to look at the underlying design of the industry's Internet, and we are now going to extend it to a wider and wider range to reduce transaction costs. We see this piece of data collection, and the credit is very important. This place I say briefly, just include the horse general, he is also the big data to levy the letter. The traditional credit secretary Chen said a lot, plus the right side of the large data collection letter, this is complementary. The large data collection is not to replace the traditional credit, it is the relationship with the traditional credit. By doing so, you can plan for the panorama, especially the credit, to the individual or the enterprise. In this way, through our comprehensive data can do insight intervention and optimize the benefits, which is also a wind control.

Finally, I drew a picture, which is a thought I imagined, how to think about these things. Because you may have a traditional industrial perspective, Internet. This morning the guests talked about, Ding always talked about to dismember, disintegration, hands, feet thrown out to regroup. Individual industries I think there may be a faster breakthrough in the internet, each industry may be the internet speed is not the same, and industry will be blurred boundaries, is what we often talk about bridging. Unrecognizable is not a linear change, for example, we are arguing that the future is a mobile phone or mobile tablet computer, it may be hit the glass, hit the wall, that is my screen, is not to sink into think of this thing, do not think this screen what big, but subversive. Financial industry in terms of wind control is very important, the Internet to solve the information asymmetry, financing costs will be reduced, spindle structure may be at both ends, one is finance, on the other hand, high-end people.

This is my own summary of a diagram, not necessarily accurate. If according to computer, many of you are computer, by computer level, I try to draw some level, the Internet infrastructure, cloud computing and large data, there are some financial basic services, Third-party payments, virtual currency, credit system, this place should include wind control. The top is a variety of business forms. This is my own summary and understanding, here is the end.

(Responsible editor: Mengyishan)