"Mr. Zhang, Leech Financial Services Group just announced that it has taken control of Cathay Property & Casualty Insurance Company."
Lan Lan walked into Zhang Yida's office and said this directly.
"Oh, how much did it cost? They are quite fast."
Zhang Yida was lying on the sofa and waved his hand for Lan Lan to sit down and talk.
After Lan Lan sat down, he began to say: "A total of 1 billion yuan was spent to acquire 51% of the shares of Cathay Property Insurance Company."
“They are so awesome, why don’t they invest in PICC, CPIC, Xinhua, and China Life?
A small insurance company, nothing to be surprised about."
Upon hearing Zhang Yida's words, Lan Lan became anxious with his careless attitude, and she added:
"Mr. Zhang, this is an insurance company that can design and sell products.
It’s different from the insurance agency and insurance brokerage licenses we have.”
"I know, tell me what you think. Do you think it is necessary for us to invest in an insurance company now?"
Zhang Yida has also been coveting the insurance license for a long time.
Earlier, Ruixiang built an insurance supermarket and was responsible for the product distribution of major insurance companies. Ruixiang acquired an insurance agency.
Later, it launched Diandian Mutual Aid and got involved in the field of critical illness crowdfunding. Ruixiang also acquired an insurance brokerage license and obtained the right to sell multiple types of insurance products.
However, insurance agent and insurance brokerage licenses are equivalent to insurance intermediaries. To describe it in one sentence:
"We don't produce water, we are just porters of nature."
An insurance license can produce water. It is an underwriter in the insurance market and is responsible for designing insurance products, issuing insurance policies, collecting insurance premiums, and assuming insurance compensation responsibilities.
Doing so much work, of course the profit is the greatest.
"Of course it is necessary. Leech Financial also has insurance agencies and brokerage companies, but they have not yet taken control of Cathay Property & Casualty Insurance.
I checked and found that there are 37 listed companies in the A-share market, all of which are queuing up to apply to establish insurance companies.
There was even more queue at the China Insurance Regulatory Commission, with more than 200 companies waiting in line for approval.
However, the China Insurance Regulatory Commission has been cautious in approving insurance licenses in the past two years. Last year, less than 20 insurance companies were approved for establishment.
By investing in an insurance company, we can not only get involved in the upstream of the insurance industry chain, but we can also regard this investment as a long-term investment.
Our country's financial licenses have always been a scarce resource, with a price but no market.
If people ask me: Is there anything that can keep up with the increase in housing prices over the years?
I would tell him: financial license!”
Zhang Yida nodded repeatedly, and what Lan Lan said made sense. Whether it was for strategic purposes or asset appreciation, Ruixiang should invest in an insurance company.
"In this case, you should contact the insurance company that has been approved to be established recently and discuss with their founding shareholders to see if Rui Xiang can join the team."
Zhang Yida also took up the idea of insurance companies that have been successfully approved but have not yet officially opened.
If you ask them to join the queue and buy shares, it won't take long for you to officially open your business, saving you a lot of time queuing up to get a license.
"Okay, let me get in touch! As Ruixiang is the only two super unicorns in the field of mutual funds, I believe there will be companies that will welcome us to invest in it."
Lan Lan said with a WeChat look on her face, in her opinion: Ruixiang has advantages in the Internet financial industry, and with Ruixiang's investment, it can definitely help other shareholders make money.
Anyone with a long-term perspective should be able to see this.
…
"With several leaders, the trend of retail business has become unstoppable.
To embrace Internet finance is to embrace tomorrow.
As the four largest banks in our country, the four major banks take the lead in upgrading technology and can also gain first-mover advantages..."
In the Ruixiang conference room, Zhang Yida enthusiastically introduced a series of ToB services of Tiance Technology to the leaders of the four major banks of China Agricultural and Industrial Construction and their accompanying staff.
"Mr. Zhang, I heard rumors from the outside that "Ruixiang Super Brain" has very advanced risk control technology and can conduct risk control audits within 3 seconds. Is this true?"
A leader of the Agricultural Bank of China asked.
"It's true. Leader, please take a look." Zhang Yida controlled the controller in his hand and lit up the huge LED screen in the conference room.
A huge electronic map of China appeared on an LED screen 5 meters long and 3 meters wide.
There are a lot of data jumping on the electronic screen, displaying data such as "Today's credit limit", "Today's number of people granted credit", "Today's loan limit", "Today's number of borrowers"... etc.
In addition, the map has different colors, reflecting the differences in the total loan amount of each province.
Zhang Yida then introduced: "Ruixiang Super Brain relies on the entire group's 400 million user data and "Mung Bean Big Data Credit Score";
Combined with cutting-edge technologies such as cloud computing and AI, data comparison and anti-fraud risk control review of thousands of dimensions can be completed in as little as 3 seconds.”
Several bank leaders stared at the big screen intently, watching the data on it jump rapidly.
A leader of the Bank of China counted the numbers with his fingers and couldn't help but ask: "We have lent 53.2263 million yuan today? The number of people lending money is 23,141? The per capita borrowing is more than 2,000?"
Zhang Yida nodded and said, "Yes, everything you see is real data.
Yongbei and Daibei currently have more than 2 million credit users, with a total credit limit of more than 10 billion yuan.
At present, our monthly loan volume exceeds 2 billion yuan, and it is expected that the total loan volume in 2015 will exceed 20 billion yuan.
Compared with the beginning of the year, our business growth rate has reached more than 100%.
Although business growth has increased, the quality of our risk control has not declined, and the bad debt rate has remained within 0.8%."
"Mr. Zhang, are all these processes completed online? There is no offline staff?"
The leader of China Construction Bank was a bit old and felt that this system was amazing, so he asked curiously.
"Yes, all the processes are completed online. The users are the credit lines that we open batch by batch after being screened by the risk coefficient in our internal system.
The user obtains a credit line and can withdraw the loan directly through the mobile APP.”
Zhang Yida impatiently explained many working principles to the leaders.
"If we purchase this complete set of solutions, how should we implement it?"
The ICBC leader's question hit the mark, and the leaders of the other three major banks also turned their attention to Zhang Yida to see how he would answer.
"This is very simple!
When the four major banks introduce our complete set of solutions, they will be able to conduct credit assessment and classification for all users in your banking system.
Then according to different credit ratings, users are given different credit lines and risk pricing.
If your credit is good, the credit limit will be higher and the interest rate will be lower;
For those with poor credit, the credit limit will be lower and the interest rate will be higher. Later, a second credit assessment will be conducted, the credit limit will be granted, and the interest will be adjusted based on the user's performance."
"Our credit card scoring model can also do this alone!"
The leader of ICBC shook his head repeatedly. The risk control technology of their company was not perfect. In his opinion, the risk control model presented by Zhang Yida was nothing remarkable.
ICBC hires many back-end technicians who graduated from 985 colleges every year, and invests heavily in research and development. Its risk control technology has always been good.
“What is your bank’s bad debt rate? 2% or 1.5%?
There is also a gap between risk control models and risk control models.”
Everyone here understood the implication of Zhang Yida’s words, which meant: Ruixiang’s risk control technology is better than those of the four major banks.
Several leaders laughed. This Mr. Zhang is really young and energetic!
How dare you say that we are not as good as you!
Who gave you the courage? Liang Jingru?
Among the four major banks, ICBC, for example, invested no less than 5 billion in IT technology research and development last year. This does not include the entire IT structure and the funds consumed by the IT team for daily operations.
Of course, not all of these 5 billion will be spent on the risk control system.
It costs money to build and maintain computer rooms, purchase and maintain servers, and purchase and maintain branch terminal equipment.
Real investment in "financial technology, risk control systems" is called "application systems and manufacturer services".
For the development of banking application systems, there are roughly three stages: purchasing manufacturer products, hiring outsourced development teams, and building R&D teams.
For small banks such as city commercial banks, they will first choose manufacturer products. Most joint-stock banks hire outsourced development teams. Large banks or joint-stock banks with a higher degree of technology will choose to build their own R&D teams to meet individual needs.
For example, among the more than 400,000 employees of ICBC, there are nearly 10,000 employees in science and technology positions.
Looking at their faces, Zhang Yida knew that they did not believe his words.
I think the four major banks are still far ahead, and the amount of R&D funds invested every year is not comparable to that of a start-up company like yours.
Zhang Yida felt that it was necessary to teach them a lesson, and he added: "I would like to ask, do the risk control data of the four major banks all come from financial data? Or the central bank's credit report."
Zhang Yida's words confused several leaders. They didn't know much about these grassroots businesses.
Several leaders set their sights on the young people they brought with them.
These young people saw that the leader and Zhang Yida had been talking and no leader spoke, so they just listened quietly and did not dare to interrupt randomly.
Now seeing the leader gesturing for him to speak, they finally spoke:
"Yes, our risk control system comes from various business data of the bank, including deposits, withdrawals, borrowings, transfers, etc."
“In addition, the user’s central bank credit report must be called.”
"Our "Mung Bean Credit" and "Ruixiang Super Brain" will also collect users' financial data, including investment and financial management, borrowing, etc.
But we will also collect and analyze life data, such as riding shared bicycles. The daily riding trajectories of shared bicycles can analyze many valuable things.
If a user rides a shared bicycle for a year and rides to the same office building for a long time, it means that the job is stable.
When a user rides a shared bicycle, he abides by the rules and uses standards, which also shows that this person has good qualities...
In addition, Mung Bean Credit is also integrated into multiple usage scenarios, such as renting a house, accommodation, renting items, etc.
These application scenarios can accumulate and collect a user's performance data.
Mobao Payment can also collect a user’s daily consumption data.
In addition, we also cooperate with hundreds of Internet financial companies.
These companies will allow users to authorize mung bean credit points when borrowing money.
Through this, we can grasp a user’s long-term lending and joint debt data.”
Zhang Yida briefly mentioned the advantages of his products. Compared with the four major banks, Ruixiang's technological capabilities have long been separated from finance and cover all aspects of life.
In short: the more data you collect, the better your risk control will be.
The leaders of the four major banks are silent now. How can this compare?
Ruixiangdu has begun to penetrate into every aspect of a user's life, and a person has almost become transparent in the face of big data.
They finally figured out why Ruixiang's loan bad debt rate was so low.
The secret lies in big data analysis.
After reaching an agreement with several leaders, Tiance Technology will then go through a "bidding" process.
Zhang Yida is not worried at all about not winning the bid. His intention has been reached long ago and it is just a matter of going through the process.
As long as Leech Financial Services does not cause trouble, no other company dares to say that its financial technology capabilities are better than Ruixiang.
Moreover, the four major banks are still shareholders of Ruixiang, so they must take care of their own families.
Tiance Technology’s B-side customers have previously been small and medium-sized enterprises in the Internet finance industry.
But the unit price per customer is too low! Zhang Yida has long been dissatisfied and is preparing to enter the high-end field.
First win over the four major banks, with these cases in hand, and then slowly advance to joint-stock banks, city commercial banks and other institutions.