Since technology companies can use New technologies continue to expand the ecosystem, why not financial institutions? In the same way, technology companies can extend the ecology to the financial sector, and financial institutions can also extend the ecology to the non-financial sector. It is in this sense that the financial departmentTechnology is surpassing finance and becoming a new technology.
The scene is king. This is the most popular sentence in the new financial field in recent years.
Under this logic, financial institutions graft their products into external scenes, or do everything possible to create their own scenes.
Whether it’s in other people’s scenes or in their own scenes, the demands of financial institutions are nothing more than sales, selling loans, selling wealth management, selling insurance...The single appeal of
makes the intervention of financial institutions in the scene shallow, and the understanding and grasp of users is also limited.
As the new financial competition escalates, it is inevitable to move from scenes to ecology, from sales-centric to user-centric.
In the name of ecology, financial institutions must go out, jump out of the scope of financial business, create ecology through new technologies, go deep into various scenarios, and comprehensively improve service capabilities.
Only those financial institutions with ecological capabilities can withstand the impact of technology giants such as Ali and Tencent and go further in this new financial competition.
It can be seen that from the major state-owned banks such as Industrial and Commercial Bank of China and Construction Bank, to Ping An of China, China Merchants BankIndustry stars such as the industry and consumer financial institutions represented by immediate consumer finance are all active practitioners of ecological strategies.
Their layout and style of play have long exceeded our inherent knowledge of financial institutions.
Once upon a time, the rule of the scene became an iron rule, especially on the line where traditional financial institutions do not dominate.
Financial institutions are eager for Internet companies that hold traffic and control the scene, so the cooperation method of financial institution funds + Internet company scene is popular, which is the loan assistance model.
inUnder the loan assistance model, financial institutions exist depending on the scene, playing more of the role of funding channels, and lacking direct contact with users.
This also brings a hidden worry-financial institutions have been backstaged, on the one hand, the core risk control responsibilities are easily emptied, on the other hand, financial institutions and The user's distance has not been shortened.
The scene is indeed king, but the crown does not belong to financial institutions, but technology giants. On the road of self-built scenarios, financial institutions have also taken too many detours.
Facing the future, financial institutions need to go beyond traffic thinking and scenario thinking, truly user-centric, and establish more effective and in-depth connections with users.
Because the user has changed. New technologies have broken the boundaries of human activities, and many functions and services that were strictly separated in the past are now integrated.
In other words, financial services are only part of a package of services provided by financial institutions to users. Before providing financial services to users, non-financial services must be done first.
For users, there is only need and no need, There is no distinction between financial and non-financial. It is not the scenario, but the entire ecosystem that can satisfy users to the maximum.
On the basis of ecology, accurate user portraits and refined pricing can be achieved, and personalized services with thousands of people can become a reality.
In the words of Ma Mingzhe, Chairman of Ping An Group, the traditional financial model used to sell products first and then provide services. First establish the ecology, and then use the ecology to empower finance.
In a research report published last year, “Time Doesn’t Wait, Just Seize the Day: China’s Banking Industry Layout Ecosphere at the Time”, McKinsey pointed out that the essence of the ecosystem is through finance +The scenario approach serves client-to-end financial-related needs, that is, starting from the potential pain points of customers, mining a series of scenarios and opportunities to solve customer pain points, so as to insert financial products into the relevant end-to-end scenarios of the customer journey in an all-round and seamless manner , To meet the full range of customer needs.
McKinsey believes that only when banks deeply understand and participate in solving the pain points of all parties in the ecosystem can they be recognized, and subsequent financial service sales, including various cross-selling rules It is the process of pushing the boat along the water.
In the industry, from state-owned banks such as Industrial and Commercial Bank of China and Construction Bank, to Ping An of China, China Merchants Bank, etc., they are famous for innovation Financial institutions, to consumer financial institutions represented by immediate consumer finance, areStyle to create a financial ecology.
In order to promote the "incremental" development of financial technology, in May this year, ICBC established ICBC Technology Co., Ltd. to cultivate B-end and G-end customers, Guanghui C End customers, and create an ecosystem that combines commercial value, industrial value, social value, and public value. In terms of scene layout, ICBC has covered government affairs, travel, education, medical care, commerce and service industries.
Similar to ICBC, CCB is making every effort to open the "second development curve", that is, through B-end empowerment, C-end breakthrough and G-end connection to improve digitalization, Refine the level of resource allocation. Currently, CCB has built 17 platforms including public cloud services and smart government services to provide customized technical support services for customers, peers and government departments.
At the "New Financial Talent Industry-Education Integration Alliance Forum" held on June 24, CCB Vice President Zhang Lilin stated that CCB is committed to "creating a ubiquitous credit connection "On the one hand, it helps the government, enterprises and people build new infrastructure such as software service systems and convenient living platforms. On the other hand, it makes full use of new technologies to transform banks into super partners, establish more extensive connections, and provide full-process services. stand by.
Compared with the big state-owned banks, Ping An Group’s ecological layout is relatively focused, while China Merchants Bank uses App as its core focus to improve its ecology.
Under the strategic planning of "finance + technology" and "finance + ecology", Ping An Innovation and TechnologyFocusing on the two major industries of big financial assets and big medical and health, it is deeply applied to traditional finance and the five ecosystems of "financial services, medical health, auto services, real estate services, and smart cities".
Especially in the field of smart cities, Ping An has directly competed with Tencent and Ali. At present, the “1+N” smart city platform system that Ping An has built has been promoted and implemented in more than 100 domestic cities including Beijing, Shanghai, Shenzhen and many countries and regions along the “Belt and Road”, covering finance, government affairs, transportation, Life, health and other fields.
There is also China Merchants Bank, which is positioned as a "fintech bank". Its two major apps, "China Merchants Bank" and "Handheld Life", have 27% and 44% respectively. % Of traffic comes from non-financial services, And initially built a user ecosystem including subways, buses, parking lots and other convenient travel scenarios.
"A bank card is just a product, but an App is a platform that carries the entire ecology." said Tian Huiyu, President of China Merchants Bank.
Similar to China Merchants Bank, Immediate Consumer Finance is also a licensed financial institution known for its technology. According to Zhao Guoqing, founder and CEO of Immediately Consumer Finance, Immediately Consumer Finance is more like a technology company with a financial institution license
Since its establishment, Immediately Consumer Finance Always adhere to independent research and development to build core technological capabilities. Among the 1,600 employees in Immediate Consumer Finance, the R&D team exceedsOver 900 people. According to data from the State Intellectual Property Office, currently licensed consumer finance companies have registered a total of 88 patents, of which 53 were registered immediately by the consumer finance company.
For example, the Face X live face recognition technology independently developed by Consumer Finance immediately accumulates data from more than 50 million users and 20 million active users. Rate and stability have reached the industry-leading level.
On the occasion of the fourth anniversary of the establishment of consumer finance, the company announced that it will move toward an open platform, focusing on two major areas of financial technology and retail technology, and continue to deploy cloud Five technologies such as platform, artificial intelligence, big data, blockchain and biometrics.
In addition to facing the financial sector, consumer finance plans to export its technological capabilities to the retail industry and government agencies, including hotels, shopping malls, parking lots, properties, and hospitals. Recently, the company’s self-developed hotel check-in self-service machine system Has been put into use, and plans to expand to 300 hotels within this year.
When talking about future development, Zhao Guoqing said that consumer finance will work with partners to create a smart The new financial ecology of "cooperation and win-win" featuring globalization, inclusiveness and unboundedness.
The term Eco comes from "Οικοs" in ancient Greece originally meant "dwelling" or "habitat".
Nowadays, the term ecology has been given a rich meaning, which means openness, connection, sharing, and is closely related to new technologies and new models.
Undoubtedly, Ali ecology and Tencent ecology are the most eye-catching ecology at the moment. Alibaba focuses on e-commerce and payment, and Tencent focuses on social networking and content. Their ecology influences the lifestyle of most Chinese people.
Under the name of "digital China", the reach of Alibaba, Tencent and other technology giants continues to expand, such as government affairs, people's livelihood, medical and other fields.
But ecology is not exclusive to technology companies, just as new technologies such as big data, artificial intelligence and cloud computing are notDivision exclusive.
Since the middle and late last century, financial institutions have actively embraced the technological revolution, took the lead in realizing informatization, and have also accumulated a solid technical foundation; they have experienced the wave of financial technology in recent years The baptism of some financial institutions’ scientific and technological capabilities has increased rapidly.
Since technology companies can continuously expand their ecosystems with the help of new technologies, why not financial institutions?
Similarly, technology companies can extend the ecology to the financial sector, and financial institutions can also extend the ecology to the non-financial sector.
It is in this sense that financial technology is surpassing finance,Become a new technology. Through these new technologies, financial institutions can be more deeply embedded in the real economy and social life, and create a new form of financial services.
According to the theory of the innovation godfather of Bank of America, Brett King, the global banking industry is moving from the 3.0 era to the 4.0 era. He believes that from Bank 1.0 to Bank 3.0 is the expansion of service channels based on physical outlets; Bank 4.0 is a return to a re-examination of the nature of banks and upgrades to smart banking services embedded in life.
Bright King pointed out in the book "Bank 4.0" that the only way to win in the world of banking 4.0 is to reflect on the entire product paradigm, Functions are integrated into people's lives.
Whether it is Bank 4.0 or Open Banking, in the final analysis, it returns to the essence of finance-finance is a service, a ubiquitous service.
In a nutshell, where the user is, the service is; where the pain point of the real economy is, the financial innovation is where.
This is the best annotation for the era of financial ecology.