The total number of employees of Ruixiang Financial Technology Group has recently exceeded the 3,000 mark. In order to adapt to the increasingly fierce competition in the Internet financial industry, the entire group has ushered in the third round of major personnel and organizational structure adjustments.
Five major business groups, including the Content Advertising Business Group, Mobile Services Business Group, Emerging Technology Business Group, Open Technology Business Group, Wealth Management and Consumer Finance Business Group, and dozens of subsidiaries have been disrupted and reorganized.
Under the new organizational structure, Ruixiang Group will be customer-centric and divided into front, middle and back offices, including:
Front desk: refers to the function that is closest to customers, has the best understanding and insight into customer needs and behaviors, and ultimately realizes and enhances customer value.
Its main work is: marketing and promotion, conversion and transaction.
Middle office: refers to the shared platform functions that provide professional capabilities for front-end business operations and innovation.
Its core job: providing operational support to the front desk, including four major services: technology and business, data, and organization.
Back office: refers to providing the three major functions of financial management, human resources management and collaborative office management for the entire front office and middle office.
After the structural division, the middle office will become the largest and most important department of Ruixiang Group.
In the original Ruixiang, each business group and each subsidiary had its own technical personnel and R&D personnel.
Now these people are concentrated in large and medium-sized enterprises to avoid reinventing the wheel and wasting resources.
The technical middle platform integrates and packages various technical middleware and other capabilities, filters out technical details, and provides a simple, consistent, and easy-to-use capability interface for application technology infrastructure to the front desk, business middle desk, and data middle desk.
The data center is to open up, integrate and analyze the data of all its products and subsidiaries, and output the valuable parts to the business center.
The business center extracts business modules and reuses them. For example, successful marketing strategies tested in loan supermarkets can be used in financial supermarkets and fund supermarkets...
It is the successful path explored earlier that can be used again in other products and businesses.
Organizational middle ground is a "decentralization strategy", which can also be called intrapreneurship.
After a certain person or team within the company reaches certain requirements, they can mobilize the company's existing technical capabilities, user traffic and other resources to quickly try out new projects and find new business directions for the company.
After the structural adjustment was completed, Zhang Yida sent an "Notice to All Employees" email with the following content:
Front desk department: mainly establish a flexible, innovative and rapid response mechanism around C-side and B-side customers.
The platform operation business group was established, which consists of seven major financial supermarkets including banking, securities, insurance, insurance, trust, mutual financial management and loans, as well as business departments such as Ruixiang Forest and Ruixiang Manor.
Gu Panpan was appointed as general manager of the business group and senior vice president of the group, reporting directly to CEO Lin Zhenyang.
The open technology business group has jurisdiction over Mobao Payment, Mung Bean Credit, Tiance Technology, Ruixiang Super Brain, Ruixiang Financial Cloud and other business departments.
Xie Huaiyu was appointed as general manager of the business group and senior vice president of the group.
The mobile service business group has 4 independent APPs including 365 Accounting Manager, Kawang Credit Card Manager, Diandianchou, and Jinniu Finance (formerly Tou Ronghui Finance).
Appoint Wang Lina as general manager of the business group and senior vice president of the group.
The consumer finance and wealth management business group includes Yongbei, Daibei, Lingqianbao, Hantai Funds, Hanzhou Securities and other businesses.
Hong Haibo was appointed as general manager of the business group and senior vice president.
Established overseas business group, managed industrial funds, R.Pay, Grab.Pay and other businesses.
Lan Lan was appointed as the general manager of the business group and concurrently as the group's CFO and senior vice president.
Middle office department: Form four major middle office divisions: technology, data, business, and organization.
The Technology Business Department is composed of the original business groups and subsidiary engineering teams.
Group CTO Zhou Feng serves as general manager of the business unit and senior vice president of the group.
The Data Business Department is formed by the merger of the Emerging Technology Business Group and Guanghua Smart Financial Center.
Ren Yunfan serves as the general manager of the business unit and senior vice president of the group.
…
After some adjustments, Ruixiang Group formed a structure of front, middle and back offices, five major business groups + four major business divisions.
Ruixiang's announcement of such a major adjustment was not hidden from the media, reporters and colleagues who were all-pervasive.
Regarding Ruixiang's move, the media praised: "Ruixiang is the first of its kind in the domestic Internet industry."
As a result, Jack Ma could no longer sit still and carried out vigorous structural adjustments within the Ali Group.
When Jack Ma visited Supercell in 2013, he was attracted by its mid-level architecture.
Supercell has less than 400 employees, but has generated revenue of 500 million euros!
It relies on this "small front desk, large middle desk" structure.
In the atmosphere of elite culture, Supercell strives to not let employees be bound by processes and management mechanisms, and to give each small team sufficient decision-making power.
And because resources are scarce, each small team can focus more on the resources at hand and choose to do the most important things.
After Jack Ma visited Supercell, he never used the knife on Ahri.
Now that Ruixiang has fired the first shot at reform, Jackma immediately followed suit.
…
"Mr. Zhang, I just came back and you have to carry such a heavy burden for me."
In the office of the chairman of Ruixiang Group, Lan Lan, who had just returned from an inspection trip to Japan, South Korea and India, learned that Zhang Yida had entrusted him with an important task.
"The development of overseas business groups is Ruixiang's top priority next. You are the one with the most international vision in the group, so you have to shoulder this burden."
Zhang Yida said with a smile that after repeated consideration, the most suitable candidate in the group is Lan Lan. Ruixiang Industrial Fund is aimed at overseas, and it happens that other overseas businesses are also handed over to Lan Lan for management.
"Well, since Mr. Zhang trusts me so much, then I will take the order!"
Lan Lan naturally knows the importance of the overseas business group. A person who knows his friends will die for his friends. Even though he knows that this will be very painful and tiring, he still has to grit his teeth and persevere.
"After I returned to China, you and Lei Dongming visited three more countries. What do you think?"
Zhang Yida made a cup of tea for Lan Lan and a cup for himself. After taking a sip of tea, he asked again.
Lan Lan took a small sip and said:
"As for South Korea, the market is too small and there can't be many unicorns. The most popular areas are games, e-commerce and other fields.
I did a rough inspection of the group buying website g, the game studio Bluehole, and the mobile advertising and marketing company Yello Mobile.
Takeaway catering company Woowa Brothers, cosmetics company L&P etics, entertainment economics company Big Hit E, P2P online lending company Viva Republica.
These companies were all established relatively early, with Big Hit E being the earliest, established in 2005.
Several other companies were also established around 10-11 years ago.
Now that it has grown in scale and has basically entered a mature stage, it would cost at least tens of millions of dollars to invest in it and get more than 5% of the shares.
P2P online lending company Viva Republica was established later, in 2013, with a relatively lowest valuation, probably between US$100-200 million.
I think this company is pretty good, its valuation is relatively low, and it's worth investing in.
At present, in addition to their P2P online lending business, they are also launching a P2P transfer platform Toss, which aims to simplify domestic mobile P2P fund transfer services in South Korea.
South Korea's domestic online banking infrastructure is relatively backward, and processing business is very cumbersome and complex.
To transfer 10,000 Korean won (approximately US$10), you need to enter the password 5 times and click 37 times. Users are also required to install various "inexplicable" plug-ins every time they use online banking services.
Toss platform hopes to solve the pain points of this industry and simplify the originally cumbersome online transfer process into three steps:
The user enters the payee's name and phone number or bank account number, and then enters the transfer amount and password. After one verification, the money can be immediately transferred to the payee's account.
I think the transfer platform they launched can really solve the pain points of users as they said, and it will definitely become popular in Korea and attract a large number of users to sign up.
Therefore, I judge that this company still has certain investment value."
"Are Korean banks so bad? In our domestic mobile banking, you can also enter your mobile phone number or bank card number, and then transfer the amount.
This kind of technology has become a leading technology in their country?"
Zhang Yida knows that South Korea's games are pretty good and the industry is huge. The Bluehole studio that Lan Lan just mentioned is called Bluehole in China. In two years, it will develop a chicken-eating game that will become popular all over the world.
"Yes! Even if their country is a developed country, it cannot compare with our country in many aspects."
Lan Lan feels that apart from the TV dramas and movies, South Korea is also mediocre in other aspects.
"Well, please submit the information of these companies later and I will take a look and make an evaluation on them."
Zhang Yida wanted to see what the current valuations of these companies were. If they were too expensive, he would give up. If the valuations were still low, he would go in and take advantage of them.
"As for RB, I looked at it and felt that they couldn't create a unicorn company for two reasons.
First, there are few investment companies and the threshold for listing on the Tokyo Stock Exchange is low. Many companies go to the public market for financing before their valuations rise.
Second, the entrepreneurial environment in RB is very harsh, with a shortage of labor and talents, high taxes, and rising rent and equipment costs. Young people have lost interest in starting a business."
When it comes to RB, Lan Lan feels that her trip was completely in vain. There are too many established companies, which completely blocks the upward path for young people.
Zhang Yida nodded. Indeed, apart from the richest man Sun, RB had not heard of any powerful Internet and technology entrepreneurs in many years.
“Let’s talk about India! India has such a large population, I think there are quite a lot of opportunities. E-commerce and mobile payment are currently very popular there.
In addition to Ahri's move, Penguin has also begun to take action in India.
In addition, I met several waves of Chinese colleagues in India who came for inspections.
Mr. Zhang, I think we have to act quickly. Otherwise, all the good companies will be taken away."
Lan Lan was even more anxious than Zhang Yida and started to suggest.
"I also met a Chinese colleague? What a coincidence? It seems that we really need to hurry up."
Zhang Yida recalled that in his previous life, half of the 30 or so unicorns in India were invested or controlled by Ali and Penguin.