Ding Siyao felt that this period of time was extremely tiring, but it was also very fulfilling.
First, I followed colleagues from the Commerce Department of Ruixiang Technology to visit a number of P2P platforms, had conversations with many middle and senior managers of each major platform, and asked some questions, some simple and some complex.
For the sake of Ruixiang's sake, the major platforms didn't know that even though Ding Siyao was a colleague, they basically talked about everything they knew about other operational issues while retaining core secrets.
Although I was a little curious about Ding Siyao who raised these questions, I just thought they were employees of Ruixiang, exchanging ideas with each other.
After asking questions along the way, Ding Siyao learned a lot and had a rough prototype of some operational ideas on the asset side.
Then he followed the marketing department of Rui Xiang, who was developing the loan supermarket business, and visited many loan companies.
Ruixiang wanted to develop cooperation in acquiring customers, so Ding Siyao approached a loan company for cooperation funds.
The specific point is to cooperate with some loan companies in providing loan funds.
The cooperation adopts a combined online and offline model.
Yimin Investment has developed an online financial management platform, Yimin Wealth, and offline cooperative loan companies recommend borrowers. After the risk control review by Yimin Wealth, the information of the borrowers who have passed the review will be unified into individual bids or packaged into assets.
Package, upload it to the Yimin Wealth online investment platform, and recommend it to online investors to raise funds and lend.
A loose bid corresponds to a single borrower.
The asset package corresponds to multiple borrowers.
Scattered bids or asset packages are made into investment targets, which are called scattered bids and collective bids respectively.
It contains the details of the borrower, which are coded and watermarked to obscure some private information, but some information that is convenient for investors to make decisions, such as the purpose of the borrower's loan, the general nature of the work unit, salary level, repayment ability, etc.
Can be seen.
It is up to the investors themselves to screen and review, and they are free to choose investments.
According to the borrower's loan amount and term, the investment amount and term of the individual bids also correspond one-to-one.
A collective tender generally involves multiple borrowers with different loan amounts and terms. Therefore, a group of borrowers with the same loan period will be selected to form a collective tender with the same term, but the loan amount of each borrower may be different.
The timely repayment of principal and interest of all borrowers recommended by the small loan company is 100% jointly and severally guaranteed by the small loan company.
In this model, the small loan company not only promotes small loan projects for Yimin Wealth Platform, but also provides joint liability guarantees for Yimin Wealth Platform.
Small loan companies can also benefit from the Yimin Wealth Platform: on the one hand, they can push their lenders to more investors through Yimindai and complete a large amount of sales; on the other hand, they can also
The advanced risk control level of Yimin Wealth Platform reduces the bad debt rate.
Ding Siyao pulled the tiger skin of Ruixiang Technology and Yimin Wealth, ran around, and easily signed a dozen cooperative small loan companies.
In the early stage, Zhang Yida planned to cooperate with small loan companies and let them recommend loan customers.
In the later period, it will gradually turn to self-operated, and Ruixiang Technology or its own loan brand under Yimin Investment will recommend customers, and then Yimin Wealth will raise funds to complete the loan, completing a closed loop of the internal ecosystem.
In the early stage, due to various reasons such as risk control level and experience, we could only cooperate with external small loan companies for the time being.
Zhang Yida's instructions to Ding Siyao were also to find some small loan companies to cooperate with in the early stage. Ding Siyao successfully completed these tasks.
Fan Hongyang, on the other hand, has successively recruited and replenished the company's financial, legal, administrative, human resources, marketing and other positions.
We also hired a mature risk control team of more than ten people from other P2P platforms. The entire Yimin Investment has finally gathered all the people, and we are waiting for Yimin Wealth to start raising funds.
After checking the recent work results of Ding Siyao and Fan Hongyang, Zhang Yida gave the following instructions:
“First, the company left 1 million in working capital, and the remaining 3.6 million were all delivered to Ruixiang Technology, ready to start promoting and attracting traffic.
Second, Fan Hongyang will lead the operations department to complete the transformation of the customers who are brought in, and promote customers to increase their investment through various activities and copywriting.
Third, Ding Siyao is responsible for the follow-up and docking of the cooperative small loan company, and controls the lending work after the funds are raised."
After the work at Yimin Wealth was properly arranged, Zhang Yida went to Ruixiang Technology again, found Lin Zhenyang, and talked:
"Old Lin, I set up a P2P company outside and it will be online soon.
In the early stage, we are planning to place an advertisement on Ruixiang, and the estimated cost is 3.6 million.
So I’ll discuss it with you. The company has just been established and we don’t have enough funds, so I’ll see if I can get a discount.”
After saying that, Zhang Yida laughed, a little embarrassed.
Yimin Investment does not have Lin Zhenyang's shares, but Ruixiang Technology has 8% of Lin Zhenyang's shares.
If there is a discount, it will actually harm Lin Zhenyang's interests.
Lin Zhenyang laughed and said without caring:
"Is it the company that was on the 36th floor before? I think they moved out after staying here for a week.
How is the situation now? If funds are tight, you can continue to work in Ruixiang. Anyway, there are unused offices, and it would be a waste to leave them alone."
Zhang Yida shook his head and said:
"Yimin Wealth cannot be too close to Ruixiang Technology. Although they are brother companies, I am the major shareholder.
However, Ruixiang's current customers are mainly P2P and some loan companies, especially P2P. They cannot be allowed to know about the relationship between Ruixiang and Yimin, so as not to affect Ruixiang's advertising revenue.
I hired two professional managers to manage Yimin, and they also held the shares of the main domestic operating company on my behalf.
My Cayman company, Yizhou Overseas, controls Yimin Investment Hong Kong through a VIE structure, and Yimin Investment Hong Kong then controls the domestic operating entity Jingcheng Yimin Investment.
I rarely show up there, and I leave it to the two professional managers to take charge of daily management.
In Ruixiang, I am the chairman. If we enter the P2P field again, it will definitely cause panic and exclusion in the industry.
Other P2P companies may reduce or even give up advertising on Ruixiang in order to reduce the behavior of sponsoring enemies.
Therefore, this point must be taken seriously, at least now the relationship between us cannot be exposed.
When both companies are fully fledged, they won't be afraid even if they are exposed.
In the face of absolute strength, they should know how to choose.
Now, it’s better to keep a low profile and show off the vulgarity before talking about it.”
Lin Zhenyang nodded and said:
"Okay, I will support you no matter what arrangement you make.
For advertising fees, Ruixiang will charge a cost fee, which is a 40% discount."
Zhang Yida is happy, Lao Lin is really an honest person. In fact, with a 40% discount, Ruixiang will not lose money. He will even make a small profit.
After all, the more customers who participate in advertising, the greater the advertising revenue, and the cost of expenditure can be reduced through large-scale operations.
Zhang Yida said generously:
“The 40% discount is too low, and the cost of Rui Xiangming has already been touched.
Let’s do it! 50% off!
In the later period, Yimin Wealth developed smoothly, venture capital came in, and then raised the price back, treating it the same as other customers.
In addition, you have to keep an eye on this matter and don't let the outside world know about the relationship between the two families."
Lin Zhenyang patted his chest and said:
"Don't worry, I will definitely handle this matter beautifully!"
Zhang Yida nodded and asked Lin Zhenyang to arrange the plan.
The phone beeped. I picked it up and saw that it was Fan Hongyang. He answered the channel:
"Lao Fan, what's wrong?"
Fan Hongyang on the other end of the phone was crying and complained:
"Mr. Zhang, I think we have overlooked a big problem. The loan companies signed by Mr. Ding all recommended borrowers for 6-month, 1-year, 2-year, 3-year, and 3-month loans.
few.
I’m going to stick to the original bid and go to Yimin Wealth, but I’m afraid the deadline is too long, and we’re a new platform without trust and good reputation, so no one will invest!”
Zhang Yida thought about it and felt that he had overlooked a big problem. In fact, there are many solutions, but doing so is a bit of a tightrope walk.
sighed:
"There are several ways, but it will make the operation more difficult and the risks will increase, making it difficult to control."
Fan Hongyang said doubtfully:
"What can I do? Mr. Zhang, please give me some advice."
Zhang Yida took a deep breath and replied:
"Bid splitting, capital pooling, maturity mismatching."
Fan Hongyang's eyes widened when he heard this. He understood. No wonder there were so many short bids for new activities on other peer websites.
Licking his dry lips, Fan Hongyang said nervously:
"Mr. Zhang, do you mean that we should also learn from other peers to do this? Then the operational difficulty and operational risks will increase exponentially."
Zhang Yida sighed and said:
“There’s nothing we can do about it!
You issue bids for one or two years, and the funds need to be locked up for such a long time after the customer invests. It is not an easy thing to do. It can even be said that it is simply unrealistic at this stage.
How long has Internet finance been developing? Many users are exposed to this thing for the first time. If you ask them to invest for so long, you are basically driving customers towards competitors.
We issue bids for one or two years, while others issue bids for one month or half a month. When the rate of return is the same, I don’t need to say where to invest. Even if our rate of return is higher, users will hardly know.
Choose us.
Yield, capital flexibility, and security are basically the points that investment users pay most attention to when choosing an investment platform online.
We currently have no financing, no venture capital endorsement, and the security is basically the worst platform for users.
Other platforms include venture capital, listed companies, and state-owned capital investment. Although many of them are packaged, users just believe this.
We cannot have too high a rate of return. If it is too high, it will actually increase the cost of capital. This part of the cost will eventually be passed on to the borrower. When it comes to the borrower, the loan interest rate may be terrifyingly high, lowering the asset grade and overdue the loan.
And bad debts will also climb.
The only thing that can play tricks is financial flexibility.
Let’s talk about splitting the bids first. For example, the target project with a loan period of 12 months is split into two 6-month projects and issued separately, and then the funds raised from the second target are used to pay for the second project.
The due principal and interest of one; one year later, when the borrower repays the due amount, the platform will pay the due principal and interest of the second subject.
A 12-month loan bid, as far as I know, some platforms split it into 12 one-month bids, which are handed over in sequence."