In recent years, Alibaba's financial characteristics are becoming more and more obvious, originally as Alibaba auxiliary department of Alipay is increasingly becoming the core department, was established only two years ago, Alibaba Microfinance Co. Ltd. has accumulated to 130,000 customers to provide financing services, and the size of its loan more than 26 billion, while the loan delinquency rate of only 0.72%. Not long ago, Ma Yun announced that Alibaba Microfinance Co., Ltd. will be open to the ordinary members of the Alibaba in Jiangsu, Zhejiang and Shanghai, rather than the full opening of the paid users, which means that the volume of business of Ali microfinance will be greatly increased, and a large number of lack of funds but the purchase of loans without access to the small and micro-enterprises will be from the Alibaba to obtain financial support. Ali micro-credit fully predictable high growth of traditional commercial banks, especially those with micro-credit services fast-growing urban commercial banks. Halfway into the microfinance Ali financial, the reason why it can become the industry's dark horse. First of all, because it has a traditional commercial banks can not have the scope of regional coverage, the high cost of ground outlets and low radiation rate determines the traditional commercial banks can only step by step, its growth rate can only be arithmetic base. Alibaba's virtual network has an unparalleled cost advantage and range of advantages, for many years online engaged in B2B and B2C a large number of customers are its potential financial customers, Alibaba does not need to invest huge costs for their own financial business to develop and develop new customers, but only for the existing customers to provide new services and new value, so Ali financial has not yet started in front. The real advantage of Ali Financial does not lie in the natural advantage of its customer volume, but in Alibaba's business genes and the financial industry has the potential to be the same, the financial industry is essentially a kind of information industry, access to determine the identity of the customer's credit history of the real information to monitor the customer's trading behavior and trace, is the core business content of the financial industry. Under normal circumstances, perhaps the real information to accurately grasp the customer's behavior is quite difficult, or even impossible to achieve. In the face of the uncertainty of a large amount of information, the traditional financial industry to take the way is to eliminate the reduction of information uncertainty through collateral guarantees and other means to reduce the operational risks that may result when the customer is unable to provide guarantees and mortgages, the transaction can only be abandoned. In other words, the risk management means used by traditional commercial banks is a kind of information opacity and asymmetry of the situation can not be used means, e-commerce and the most obvious difference between traditional business is that the transaction behavior is placed in the information more and more information **** enjoyment and transparency of the information environment, the transaction behavior are at the same time is a kind of data accumulation process, all the identity information and business behavior information, can be stored to be All identity information and business behavior information can be stored, mined, analyzed and purified, and the opacity and asymmetry of information is gradually eliminated. The most important thing is that the transaction database has the nature of automatic generation, and the cost of collecting and acquiring information is ultra-low or even zero cost. It is an impossible mission for traditional commercial banks, but for e-commerce and information service companies like Alibaba, it is a no-brainer. Because of the huge back-end data precipitated by Alipay over the years, it is quite easy for Alibaba Finance to know the credit rating repayment ability of the customers and to monitor the cash flow of the customers after the loan. Alibaba is not only an e-commerce platform, but also a data collection and processing center with huge capacity, a credit identification and serious system, combining this core competence with a large number of customers' potential financing needs, Alibaba is a financial service center with huge potential. Data is Alibaba's unexpected gold mine, Alibaba is increasingly aware of the value of this gold mine, indeed Alibaba Group announced the establishment of the position of chief data officer, responsible for promoting the data sharing platform strategy, in fact, around the data mining and utilization has been the major Internet giants of the competition theme. Tencent not long ago released a marketing-oriented big data strategy, it will mobilize Tencent 700 million active account data to serve the portal, to create opportunities for users to social relationship chain of the next generation of Tencent. Baidu is also not willing to lag behind, a few days ago held the Baidu World Congress also announced its own cloud strategy. The competitiveness of Ali Financial is based on the competitiveness of Ali's data gold mine, which is a kind of competitiveness on behalf of the future. Without this data gold mine, financial companies will increasingly feel the lack of competition.