"Where to go" in the financial industry: not to touch money, not lend, sniff out good business

In the past year or so, Rong 360 has proved the potential of financial search. And as a bridge between users and banks, how to achieve a balance in the steady and innovative, and constantly meet the needs of young users, is the core of 360 can continue to expand. Your finances start on the line? Vertical search is a practical model of financial O2O, which is transferred to offline by gathering demand. "Rapid expansion, to do large-scale" is Ye Daqing always adhere to the guidelines. This early years as PayPal China market general manager, American Express multi-channel marketing director of the returnees, is now the founder of the 360. Not long ago, the financial product search and intelligent referral platform to obtain a 30 million-dollar B-round financing, the investment party for Sequoia Capital, a round of investment in the speed of light, Kleiner to the vote. In his eyes, "where to go" through the travel price online search to create a blue sea, and 360 to do is to the online search for parity into the financial industry. With the help of capital, the company's pace of development is truly surprising. In less than two years, Rong 360 in the national low-key rapid "happy enclosure", on-line version of more than 30 cities, the end of this year plan to cover 60 cities. At the same time, the company's Web site covers more than 2000 kinds of loan products, settled near thousands of banks, the site on the monthly loan application amount has reached tens of billions of dollars. Just this month, Rong 360 went online with credit card search services outside of the loan search, further enriching the business coverage of the search platform. "Our role is to accelerate banking adaptation to the Internet, to make information more transparent and to match products and users more efficiently," Ye Daqing said. He does not see the 360 as a subversion of traditional banking, but rather as an outsource to a part of the bank's business. In his ideal state, online search prices will lead to trillions of of dollars a year to deal with financial products. Starting at the beginning, Ye Daqing's idea is to search and apply for financial products for the mouth, for small and medium-sized enterprises and individual consumers to provide online "parity" function. This is because of the complexity of the financial market there is a large number of asymmetric information, the bank's interest, loan maturity and audit cycle is very different, these differences make the user generated a search for information needs, Ye Daqing will smell the opportunity. In Europe and the United States market, people have basically developed the online access to financial product information habits. With the rise of the domestic young netizens and the maturity of the online shopping behavior, the on-line and electronic business of financial products will also accelerate. According to Ye Daqing estimates, the habit of domestic consumers may occur within two or three years. In the case of credit card business, a recent survey by Boston Consulting said that one of the main sources of information for credit card applicants today is the Internet, which accounts for 24% of the same as bank outlets. The younger generation is using independent search engines and bank websites to collect and filter credit card information for the most appropriate products, as interest rates and promotional activities vary from bank to company. and Melt 360 before a domestic netizen survey shows that 20% of netizens do not need to guide, has been conscious inThe habit of searching online for parity. 360 to do is to further extend this habit to the financial sector. But the company is not just content with search, it also extends its tentacles to the application process. For banks, Rong 360 is a quick access to customers, so, 360 of the profit model is to the upstream cooperative financial institutions fees, small and medium-sized enterprises and individual consumers are completely free. In terms of the loan search business, the company's charging model is divided into three categories, a class of users to submit applications, the application of the singular charges; the second category is the effect of pay, that is, the user to apply for loans, the bank approved the loan, 360 of the amount of loans to extract a certain proportion; the third category is advertising mode, the proportion of this model is very small, Less than 5%. In the first model, each application submitted by the user is referred to as a leads (boot), a leads fee ranging from 50 to 100 yuan. At the moment, the financial institutions charged by leads are about 80% per cent. Less than 20% per cent of the remaining financial institutions paid for results. In this model, the 360 fee range ranges from 0.5% to 3%. "Different types of financial institutions and financial products, the charging method is not the same," Ye Daqing said, "For example, for mortgage charges about 1% of the loan amount, while the longer cycle, the lower success rate of the guarantee class loans, the proportion of the charge is relatively high." At the same time, he admits that 360 is a free way to negotiate with some big business. For now, the 360 focus is still on the vertical search and application in the financial sector, which is not part of the deal and does not touch the money. "Do not touch money, do not lend" is Ye Daqing often hung in the word, and correspondingly, the company on the platform to introduce a large number of bank business personnel, so that users and credit managers directly docking. In Ye Daqing view, "precision" is the core competitiveness of 360, after all, a large number of user search behavior reflects the real needs of the loan products and the description of their own conditions, as long as the financial products of each bank to integrate the information on a platform, you can achieve accurate matching. Although the search platform is of great value, for now, 360 is not a high entry threshold for both products and technology. From this point of view, the scale advantage is particularly important. It is also easy to understand why companies are raising money in the short term and expanding quickly. Accordingly, 360 also from the beginning of the start-up of more than 10 employees, developed to today's 110 employees. Among them, the technology research and development and banking business expansion of the staff almost accounted for half. As the company grows, Ye Daqing is beginning to think more and more about the pressures and challenges that are about to be faced. "It can be said that China's current Internet financial talent is still very scarce," he bluntly, "understand the electrical business, understand the Internet, but at the same time there are few people who understand finance." There are a lot of people from the bank, but how do you make these men and suits think with the internet? The rise of mobile internet and social media applications has revolutionized the intersection of peopleMutual way, this also impels the financial industry transformation and the innovation development. In this respect, the global financial industry needs to adopt new technology tools to gain insight into the latest trends in the market and to respond quickly. The combination of finance and Internet industry is the inevitable trend, but how to keep the rhythm is a problem that practitioners need to think about. In the past year or so, Rong 360 has proved the potential of financial search. And as a bridge between users and banks, how to achieve a balance in the steady and innovative, and constantly meet the needs of young users, is the core of 360 can continue to expand.