As a licensed financial technology company with entrepreneurial genes, the instant consumption finance (hereinafter referred to as "instant consumption") established five years ago has really experienced the sublimation and transformation from 0 to 1.
Zhao Guoqing, the founder and chairman of "Consume Now", participated in the market game with the concept of science and technology, which is the insight of independent thinking. In the competition to eliminate gold stocks, the importance of science and technology in customer acquisition, risk control and post-loan management is self-evident.
The Rise of Digital Customer Acquisition and Risk Control
A high-growth consumer finance company must have core competitiveness in terms of customer acquisition, capital and risk control, and the core competitiveness depends on the technology output ability. From the perspective of consumer finance participants, banks, consumer finance companies, small loan companies and mutual fund institutions should shift their energy from Fin to technology, and support income growth through technological breakthroughs in customer acquisition and risk control bottlenecks.
Internet-based finance has broken the barrier of traditional consumer finance exhibition industry, and credit has migrated from offline to online, which really facilitates users to obtain inclusive finance. However, while the Internet helps finance to open the incremental market, the risks are also spreading. When the risk control ability of consumer finance providers cannot be improved, a sustainable and healthy profit model cannot be discussed.
From the exhibition industry of licensed consumer finance companies such as Gitzo, Zhaolian and Mashan, the core of improving risk control capability is the basic ability of financial technology, which is also the trend of the transformation of consumer finance market from Internet to digitalization around 20 17. With the support of financial technology, consumer finance companies are confident in risk identification, anti-fraud and other risk control construction to ensure that asset scale and asset quality rise simultaneously.
According to public information, since its opening five years ago, it has immediately realized an automatic, real-time and adaptive risk control system, formed a flexible iterative risk control strategy and differentiated credit and risk pricing for thousands of people, and constructed 654.38+ million+risk characteristic variables, millisecond real-time data collection and processing, and 2000+ risk control decision strategy, decision process and data model artificial intelligence algorithm. In addition, we have independently developed face recognition, lip recognition and data model artificial intelligence algorithms. These risk control tools combined with big data can effectively identify the fraud risk and credit risk of borrowers, and monitor the risk trends before, during and after lending in real time.
In the post-epidemic era, consumer financial institutions' cognition of post-loan operation management has changed, and the demand for intelligent and digital post-loan risk control ability is more urgent. In terms of post-loan management, the intelligent post-loan integrated management system independently developed by instant consumption is also quite bright compared with peer institutions.
According to industry insiders, the post-loan intelligent risk control system for immediate consumption includes an integrated management platform and a decision engine. The post-loan management platform is connected with the intelligent call center to realize the automatic connection between the robot and the manual agent. Robots can not only make phone calls, but also accept incoming calls, saving agents' time and improving business efficiency.
How to efficiently obtain high-quality scene traffic is also a major problem encountered by the current consumer finance industry. The head consumer finance company built its own online staging mall, cooperated with the head flow platform to help loans, and constantly optimized the customer acquisition channels. In addition, through smart tools, we can cut into offline consumption scenarios and open up the situation for smart customers of consumer finance companies.
Taking instant consumption as an example, this paper introduces a business model-"AI+scenario+transaction+credit" which matches the online trend of consumer finance. By embedding AI software and hardware into the consumption scenario, relying on the user's payment transaction link, the user's authorization is obtained and drained to the lending service scenario. This business model can not only reduce costs and increase efficiency for scenario partners, but also help customers get online quickly.
The essence of consumer finance is scene finance. Under the background of digital transformation of the industry, returning to the scene requires consumer finance enterprises to have the ability to digitally empower the scene. At present, most licensed consumer finance companies account for less than 30% of scene consumer loans. With the deep penetration of mobile payment, the financial space of online scenes is gradually released, which brings opportunities for consumer finance companies to acquire customers.
The strategy of AI+ scenario allows instant consumption to undertake a large number of users with borrowing needs with the help of intelligent hardware in hotels, parking lots, shopping malls, scenic spots and other scenarios. At present, 654.38+00000 merchants have made instant consumption, and the number of registered users has exceeded 654.38+0.654.38+0000000.
Online customer acquisition and automated approval have gradually become the mainstream of the consumer finance market. Using face recognition, machine learning, cloud computing, big data and artificial intelligence technologies, consumer finance companies can not only process customer applications and approvals in batches, but also introduce intelligent tools such as robots to assist post-loan management, taking into account efficiency and compliance.
The life of finance lies in technology.
Since 20 15, the penetration rate of consumer finance has risen rapidly and its scale has expanded dramatically. By the end of 20 19, the balance of consumer loans excluding mortgage and commercial loans was 13.9 1 trillion yuan, an increase of about 135% compared with the end of 20 15. At the same time, the growth rate of the consumer finance industry continued to decline in the past three years, fluctuating in the range of 15%-20%.
The consumer finance market is moving from growth to maturity, and it is no longer effective to make quick money only by market dividends. Internal and external factors, such as limited pricing space, the proliferation of homogeneous products, and credit risk, force consumer finance companies to use big data, cloud computing, artificial intelligence and other scientific and technological means to improve customer acquisition ability, risk control ability, user experience, and reduce operating costs.
At present, banks, licensed consumer finance companies and internet finance giants have set up financial technology departments, and many institutions even directly changed their company names from "finance" to "digital technology", such as JD.COM Mathematics and 360 Mathematics. All in Financial Technology, a financial institution, saw the end of internet finance and the trend of technology-driven digital finance.
But in the consumer finance industry, there are not many institutions that can really implement technology as a strategy. Most institutions choose outsourcing and procurement to decorate the facade of financial technology. For a financial enterprise, independent research and development means paying a higher price.
When talking about the technical construction of immediate consumption, Zhao Guoqing believes that adhering to self-built core competencies such as customer acquisition, risk control, customer service and post-loan will help to build a solid and steady digital closed-loop capability immediately and enhance the competitiveness and sustainable development capability of enterprises.
According to public information, there are more than 1000 instant consumer technicians, more than 220 patents have been created, accounting for 70% of the total consumer finance industry, and they have also been certified by the national high-tech enterprises. From the input and output of science and technology, instant consumption is more like a financial technology company in licensed consumption, ranking seventh in the list of financial technology innovation in 2020.
Facts have proved that consumer finance companies with scientific and technological capabilities are constantly intelligent in terms of customer acquisition, risk control and post-loan management, thus winning the top spot in the industry and maximizing cycle risks. After consolidating the self-operated credit business through financial technology, it can also export financial technology solutions to the industry in an open platform business model to increase the income of B-end technology service business.
Since the end of last year, the head offices of banks, Internet and other industries have been applying for consumer finance licenses. The entry of more stock giants means that the competition in the licensed consumer finance industry will be more intense, and the refined management ability of financial technology internalization has become a key indicator of the competitiveness differentiation of consumer finance companies.
Taking post-loan management as an example, how to truly achieve "thousands of people and thousands of faces" and minimize the overdue loss rate by means of refined operation has become a proposition faced by many consumer finance companies. The intelligent risk control system of instant consumption can finely stratify borrowers, and each overdue stage has a corresponding model, such as the lost model. These risk control models can output different portfolio post-loan management strategies to optimize the agent's behavior, such as the best call times and the best call time. There are more than 20 models, more than 300 customer labels, more than 600 detailed post-lending strategies, and instant consumption.
The dream of high growth and low bad consumption finance has been broken. With online becoming the main position in the second half of the elimination of license fees, it is difficult to form a benign asset cycle only by extensive expansion. Taking intelligent risk control as the core, leveraging the advantages of the scene and more cost-effective products to incite high-quality customers can bring enough space and funds to the financial ecology.