The banking industry was able to embrace the internet and the digital age

If the banking industry had been able to embrace the internet and digital era, there would be no chance of MA. But now, although Ma Yun "do not want to the life of the bank", but he absolutely has to challenge the bank's capital: Alibaba's enterprise resources, Taobao's personal resources, Alipay and balance treasure. The legend of the bank's establishment of a "fight horse" has revealed the banking industry's judgment of the great challenges and opportunities ahead. However, this is not a life-and-death contest, but to let banks and Ma Yun, reform the existing financial services system and service model for the future development of China's economy to provide new, world-class financial services.

Recently, rumours have been rife that banks have set up a "horse-fighting Office". "Playing horse" rumors, due to the high profile of Ma Yun said: "If the bank does not change, we will change the bank." "This sentence let the banking industry such as listen to thunder, caused a high vigilance, have to discuss countermeasures."

In fact, the "fight horse" such a body or department is not real, but only a kind of ridicule, but ridicule is rumored, the background is worth attention.

China's small and medium-sized enterprises have reached 50 million, most of them do not have access to bank loans, facing the old problems of financing difficulties, banks are also crying every day to serve small and medium-sized enterprises, but always thunder, rain. This is determined by the nature of the bank's "Xianpinaifu", which has been so since the day the bank was born, so it cannot be blamed on banks for not being "authentic". As a financial enterprise, the bank has to make money, it should guard against the risk, and give small and medium-sized enterprises, especially small micro-enterprise loans The biggest risk, the highest operating costs, how do you let it sincerely to provide SMEs with credit services?

But countless small and medium-sized enterprises because of no financial support and exclaiming, and eventually died in the capital depletion of the node. This may be the real reason for Mr Ma's challenge to the bank, because Ma Yun himself is from such a dilemma come over, has the deep pain.

"Don't want to be the bank's life."

The financing difficulty of small and medium-sized enterprises is a worldwide problem. Mr Ma looks forward to the future SME financing is as convenient as online shopping, and this convenience is the Alibaba model built by Jack Ma.

In fact, Ma Yun's financial dream has already begun.

June 2007, Alibaba formally with the construction Bank, the Bank of China in SME financing areas to launch strategic cooperation, named "Ali loan."

2009 years later, "Ali loan" from the business-to-business business split out into the Alibaba Group, responsible for all the group's subsidiaries platform financing business, renamed as "Alibaba Finance."

June 2010, Zhejiang Alibaba Micro-Loan Co., Ltd. was formally established, the loan amount is capped at 500,000 yuan.

June 2011, after Zhejiang, Ali department in Chongqing set up a second Ali small loan. By the end of June 2012, Zhejiang and Chongqing Ali small loans to 1.6 billion yuan registered capital, accumulated for more than 129,000 small micro-enterprises to provide financing services, the total amount of loans over 26 billion yuan.

Of course, this is still traditional finance, but Ma Yun's goal is not in this, but waiting for the network and digital financial arrival of the day.

At present, perhaps Ma Yun inseparable from the cooperation with the bank, and then lowered the past high-profile, just said, "Do not want to the life of the bank," do not want to "fight the landlord." "The bank did not do a good job, we run for the bank, in the future we (Ali Financial) to make the people rich, you (banks) to make the rich more successful, I think this is the ecological chain of cooperation."

Ma Yun has the capital to challenge the bank

So, then again, Ma Yun has to the bank to challenge the cost? The answer is yes.

One of the costs, as early as in 2010, Ma Yun in the State Council premier Wen Jiabao when reporting on the introduction: the use of Alibaba's small and medium-sized enterprises have nearly 50 million, in the country has 37 million small and medium-sized enterprises and self-employed use Alibaba to buy and sell, in foreign countries have 12 million small and medium-sized sellers. Every day, 1.3 million overseas buyers visit Alibaba International website, the number of buyers is equal to 20 Canton fair every day. A day can probably master 70,000 Small business status, from these economic status can judge what small business needs. These customer resources can be converted into bank customer resources, including deposit accounts and credit customers.

Capital of the second, MA's Taobao plus Day Cat Network has been done to complete the annual turnover of 1 trillion. Taobao now sells more than 2000 pieces of clothing every minute. In this huge market, Taobao day turnover has reached 2.7 billion yuan. The market can turn into a consumer credit market overnight.

Cost of three, Ma's Alipay has now 700 million registered users in China to provide services, even for consumers of water, electricity, coal fees to pay, Alipay did not want to do the bank and do things. Construction Bank can not row 1 cents to ICBC, the cost is too high, and Ma Yun using the Internet technology, can quickly 1 cents from the construction Bank to ICBC 100 strokes, the ordinary people do not need to queue up for payment. Ma Yun has said that Alipay's greatest treasure is to create a credit mechanism for every young person, every online consumer, what you have bought online, and what you have sold in this credit mechanism. In Ma's words, credit accumulation is the most valuable, which gives many banks to do small business loans and personal consumption loans to provide protection. In fact, Ali Finance in the credit system of the exploration as early as in 2002, and in the 2007―2010 year with the construction Bank, ICBC cooperation, on the gradual establishment of the credit evaluation system and credit database, and to deal with the risk of loan control mechanism, with the platform to the customer wind control, and published bad Credit Records Later set up the Ali small loan also on this basis to carry out "order loans" and "credit loans."

The cost of four, Ma Yun now has a product called "Balance treasure", it uses small retail is idle in the Alipay small funds, transferred to the balance treasure, used to directly purchase funds and other financial products, to obtain relatively high returns, this is the same as the Mickle truth. Although the current impact on the bank is small and has little impact, its future is hard to predict. Looking at trends, the balance treasure will bring more convenience to people in the future, like China's communications industry, MA's Tencent broke the market monopoly. Banks are also, Ma Yun is just beginning, the possibility of replacing the bank in the future is there.

Apparently, Mr Ma sees not only the cost of his own banking challenge, but also the tendency of the Internet to change banks. Although it is only a kind of ridicule, it has revealed the banking industry's judgment on the great challenges and opportunities for the future. The banking industry is studying the phenomenon of Ma Yun, or rather, "grind the horse office", rather than "playing horse".

China's banking industry is faced with the opportunity to leapfrog development, if the bank was able to take the initiative to embrace the network and digital era, then there is no chance of MA. But today, Mr Ma not only wants to change the banks, but also to let the traditional banks disappear.

Of course, this is not a life-and-death contest, but to let banks and Ma Yun, reform the existing financial services system and service model for the future development of China's economy to provide new, world-class financial services.

In this sense, the whole society should encourage Mr Ma to challenge banks to promote the reform and development of the banking industry.