Marvin: The Future of consumer credit market

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.

In the afternoon of the Financial @ internet forum, Beijing Chongfu Time investment consultant effective company staged go CEO Mr. Marvin for you to do keynote speeches.

The following is the full text of his speech:

Marvin: My name is Ma wenxing, very happy to see everyone, I am a cock silk, what cock silk, I came in to say your shoes clean again, I said I did not rub, I walked in when a pool did not see directly into the.

Today, I would like to do a simple share, that is, phased business, the importance of business to our economic development, this topic is a bit big, today's time a little nervous, but I still want to say. I would like to report the whole macro-economic structure, we are more clear, especially director Chen also do, I will simply say a few words on the line.

First macroeconomic structure, what is the future economy determined by? What's the future for? The first investment, the European and American forces of the subprime mortgage crisis, including the debt crisis and so on a series of problems, causing Greece now debt crisis is very serious. Import and export caused by the Yangtze River Delta, Zhujiang Delta, the entire financial import and export is not our main force, what is the future? Consumption。 and the fourth carriage is government investment, and the place we stand here today is investment driven. Very simple, the future must be driven by consumption of the market, what things can drive consumption? We know that in order to expand domestic demand, we have mentioned a series of measures. The first we know home appliances to the countryside, who has bought home appliances to the countryside products? Who did? Very preferential, to be subsidized, energy-saving subsidies everyone has experienced, this is to do? promote the consumer market.

The point is to seize the consumption, we look at the other countries in the consumer market consumer credit market. This is some of the data that I picked up from the web, this is the total amount of consumer credit in the United States, the process of growth from 2002 to 2014, this emerging economy in the United States also needs to consume to drive the market development. The whole situation in the United States is this, and every year there is a big increase. What is the main market for the United States? Can be clear about the financial consumption of automobiles, as well as the consumption of student credit, what else? There is also that we all know that we commonly used 3C products consumption, which is the reason jobs so fire, it with Haier, Huawei are doing electronic products. What about the countries around us? Southeast Asia is also relying on the credit market to rely on the development of the whole country, consumption has stopped the future of our entire country, the entire world's economic structure will be a major change, so each country is doing this thing, promote consumption.

This is the economic situation of the neighboring countries, the United Kingdom and the United States consumption, the market volume is different. Consumer credit market, what is our current consumer credit market in China? The two Li is always our partner, this inside actually we are doing this thing, promote customer's consumption, originally we promoted is Who? Including Lee has also said that he is the most of the bank's network, but in fact, the most of the bank network is who? is the Agricultural bank, there are 20,000. It is the Postal Savings Bank, postal savings are divided into two parts, one is the postal Savings Bank, there are Postal Savings Bureau, the two add up a total of 30,000 outlets, the most outlets. Even if so many outlets really can provide customers with the loan business is only a few, I believe that there are from the township level from the place, the township level of the banking authority is not so high, they want to go to the county to grant, signed the people do not sign it. What consumer loans do we offer to the consumer market?

At present, we have short-term credit loans, integrated consumer loans, travel loans, car loans, housing loans, in fact, director Chen talked about our current model of credit guarantee or collateral, the bank really provide credit for the present is that we are not everyone here, not much, I see the most close to the consumer loan is the decoration loan, but the decoration loan a certain meaning also let you provide the proof of the house, only with your credit records to your loan institution I have not seen, too little. There is our credit system, integrity system, director Chen said very clearly. We want to do this in installments to make up for the market gap.

Our company is a peer-to-peer company, we do relatively early, we started in 2009 years. It's all about us covering 178 cities, we mainly do offline dot line, do peer-to-peer line business, at this time we have a lot of customer managers, they are in good credit network platform will release their own information, released information will have customers to find him, I want to do what the loan. At this time the salesman ran to listen to the flow, the salesman ran over to do? The first one is to collate its information, his ID card, marriage certificate, the whole set of procedures to walk down, it is quite a long time. Customers must first according to the application, a list, to prepare his material, ready to go with the manager when the day to you to record the data into the system, but also waiting for approval, waiting for approval for five or six days, waiting for the money down, but also waiting for the time to lend. Simple one business, just Peer-to-peer, the bank's business is longer, we have done some business to the bank, also help them to carry out the credit system evaluation system, the bank to sign, there are many leaders signed, there is credit, there are in charge of the president, the two people signed on one months, two people often travel. So the whole loan process is very long, not financial services, but financial slaves. Have you ever thought about when you got financial services and you got financial services on the Internet? No, they're all slaves. Except when can I get it? You become a high-end financial customer, you have 5 million, when the bank will take the initiative to call you, to the Prince to save me here, what do you get? I feel called service, what is this service? No selectivity, just what? For example, 5.6, 5.4, 7.0, but if you are an institution, how much does an organization's agreement deposit reach? 7 to 8, if you still have the money you have the bank is 10 to 11, this is an indisputable fact. So when did we get financial services? No. As a dick silk I really want financial services, we do one thing, installment.

This is our customer installment, we set up with a lot of channels to cooperate, our business volume can also. In front of the little girl is want to buy a mobile phone in di-Shun's store, any one told me that there is any organization can let the little girl through her identity card and school information can let her get mobile phone? No, not really, except for our installment purchase, which is something we can do, a whole new process.

Our topic is called the future of consumer credit market, 3 years ago we talked about some questions, what were we here 3 years ago? Three years ago I came here, as a cock silk, although it is Beijing, I think the need to buy a house is very high, but the holiday for me is very high, at that time I live Fangzhuang, I drove over, now people do not feel far, but for Beijing people to say that two ring is out of the city, this is our definition, now the pine is called out of the city, Since childhood has such a definition of people run to also see the House, I see the first real estate called Rong Branch, then the price is 10,002, I would like to buy. But I looked at the surrounding infrastructure and I was wondering, is this place going to live? You know at that time this road is still repaired, is a pit, this road did not get through, at that time there is a bridge, the bridge is not pass, the whole road is not pass, I said that this side will be what kind of? Three years later, I came to think about it, three years from now. What's this going to be like in three years? We see that there are many buildings under construction, what is three years later? I do not know, we can think together.

How many people are there to classify rubbish at home? What's the future like? This is very important, like this morning to get up on the subway, and now wake up many times in the morning to find a change in society, people will let out the left, why? To office workers, some are late, you run past, you do not late, now we basically can let out. But now buy a place and relatively far, so buy the cottage yonder, I every day on the subway with a lot of uptown colleagues together, some just came to Beijing, this time I want to hurry up, how to do? My road was taken up by people, why was it taken away? Not the quality of his poor, the quality of Chinese people have never been worse than any one country, the reason for what? Education, he did not know that he really did not know. What would you say if you thought he had a bad quality? You are so poor quality, you make way, then you run away, impossible, you two will fight. Actually not because the other side of poor quality, because he really did not know, as we do not know the classification of garbage, who is home in the garbage classification? I tried at home for one months failed, I do not know what to recycle, what can not be recycled, but also to look at the instructions, while classification. When we go to Japan, you will find that the Japanese people will refuse to classify, you will find his quality is really high, but is not, is a good education popularization. But look at the children now, all the children in education will be garbage classification, sometimes we face the elders of their loud noise you feel embarrassed, because in his age did not limit loud noise.

So what's the future? How many people here have the experience of phasing out a car? I'm glad I'm not the only one who suffers. Car time is too cumbersome, let me prepare a lot of information, but also to prepare a family of water and electricity information, I have to hand out the list, why should I leave this list? Can the key bank be extracted? Does he trust this information? Does he think it's a message? I think it's still a long way. To tell you the truth, I prepared so much information, I prepared for a full one weeks, at that time wondering why not simple, I am here, my house here, I work in the track here, I also have a credit card record in, the car is here, why so many things? Too cumbersome. Can you be a little easier? I wonder if there is a simple solution to what the future looks like? Today, when I entered the door, I wanted to drive in, go into the meeting, not let in, why? No plates, it's a privileged economy. Ma Yun said Haze, he was particularly excited, originally all is a privileged economy, what is a privileged economy? Leaders have their own rice, noodles and food, they have their own water, but the common people do not. People do not have these, but today fog haze, fog haze after the privileged economy does not exist, we have to suck the air, you can not hide. It's impossible to air here, unless you don't go out, so is the blue sky. What's the future like? I turn in and he won't let me in the future, I don't think it belongs to the future. Past。 I saw the future at the door, and there was Tesla, the electric charger car, and that was the future. Perhaps another 5 years, we imagine the future when there may be no burning car, full street is the level, also do not charge a night, a minute to recharge, and then drive away.

What do I need as a dick? I want to simplify, let the fingerprint replace all the information, I put my fingerprints all the information, the bank staff can give you a loan, an instant give me a credit rating, and the banks are recognized, and the future of the cock silk hope what? To give a little more, to do a credit card, my credit card is the construction Bank issued a student card we do a, from 500 to 38,000, very difficult a process, or rely on the subsequent collection of my fixed assets of the information before the promotion.

There is one more thing I need money now, a message came over, we saw the above written called the financial Internet, in fact, I will go out, why? Because the internet finance is not the financial @ Internet, this is the Internet emerging platform of an industry, is brand new, internet finance is not to provide services to the financial channel, nor the Internet regeneration system, but a new system, like going out to take credit card on the line, no money. After a while you go out to take your information on the line, no longer with any reliance on, that is, a number of accumulation. And what else does the customer need? After the loan business, I believe there are, please direct the money from my card, the bank has been much better, peer-to-peer this is still difficult, in fact, we have a very large demand for this. Simply introduce the installment purchase, what do we do? is to provide financial services to future customers, what is the simple word? is to help you do the staging in real time, no matter where.

This is the slogan we put forward, needles can be phased, there will be human for the needle stage, there may be a shopping cart later. Open shop, buy a car, buy a house, together rental, can be staged. I believe that 70%, 80% is North Drift, North drift when everyone is paying rent, are three to pay a, come up to take four months of rental funds to survive, at this time many people are not left in Beijing. What do you do at this time? We give you a monthly return my money on the line, I first to help you pay, your deposit four period to return, this we are doing, and immediately will be online. Buy mobile phones, watching movies, concerts can be staged, Valentine's Day open room can also be phased, you want to do every thing can be phased, our slogan is the needle can be phased.

What are the characteristics of staging? is the rapid review of a system, rapid review of the system in fact, there are many predecessors, including director Chen, our core calendar year is the audit control of the calendar year, is a systematic audit, not a few people in the rear to build a platform to audit customers, our audit is a systematic audit. Divided into two shares, the first is the customer, where to find him. The second is to increase the customer's default cost. What are our main controls? Systematic control of customer risk, the whole process, from the customer online discovery site to the end of the money away, each step of control, not just in the process of audit control is over, is every step, from the marketing time to control marketing risk, through the circle of marketing to determine what the user's information is good, what the user's information is poor. The reason why we are attending this meeting today is because we are in a very close position, and we have been working with ya letter early to get the data terminal with the cooperation of large data. Data from the network to obtain, network data we rely mainly on the customer's behavior on the network data, including your data. There is also the risk of trading flow, in the process of direct transactions to whom you pay, we buy 70%, 80% of the transactions are able to control the transaction process, this is a lot of companies want to do, many sites want to control the transaction process can not do, such as Alibaba, Jingdong, buy second-hand? Can you control the trading process? This is what we can do. There is also the cost of controlling the customer's default.

What's the speed of our entire audit here? Because we judge the customer's repayment ability and the repayment intention, simultaneously increases the default cost, three direction overall control customer's default situation.

And we're going to make sure that one thing is where he is, where am I, or is this sentence, finished staging business where people, as long as you find him there is no risk, the bank is more than 10 million, 500 to 10 million, and the guarantee company is 5 million, and the Peer-to-peer is 100,000 to 1 million, we are 100,001. This is the one we provide an audit of the field, we audit on the proposed control of the node to be automated and quantified.

The conclusion is very simple, we are standing in the tuyere of the pig can fly, what do you mean? Now the country is to promote the consumer market, I hope so. There is wind, below there is demand, we go to do our business, this is the most fundamental reason for the success of Ma Yun. China's accession to the WTO he is clear is the policy direction of the tuyere, so Alibaba success, today we also want to stand in this tuyere let themselves fly up, thank you.

(Responsible editor: Mengyishan)