FinTech (Financial Technology) is on fire, and people in financial circles will feel like they are out if they chat without talking about FinTech. At this year's T112016 and TalkigData Smart Data Summit, a roundtable forum hosted by Lin Yifei, executive vice president and consulting division of TalkingData, conducted a discussion on whether fintech is an opportunity or a challenge. The guests participating in the discussion include Xiao Jing, General Manager of the Ping An Group's Science and Technology Data Platform Department, Yu Guanguan, Vice President of the Network Operation Department of the China Construction Bank, Yu Feng, General Manager of the Guotai Junan Information Management Department, and Xie Guozhong, General Manager of the Sun Risk Insurance Group's Big Data Department. Ministry of total resilience. The following is a dialogue record (with deletions and changes without affecting its original intention):
Lin Yifei: Everyone comes from the financial industry, and rigor and risk are reflected in everyone's speech. My first question is this: There is a group of people who do not have financial licenses and financial experience, but they want to finance. One day they suddenly found a straw FinTech. This group of people was once seen as a "barbarian" outside the door. Later they discovered that although they were barbaric, they proved something in a short time. Now everyone has also started to use internal science and technology in various financial and traditional financial institutions. Can we talk about perceptions from this perspective?
Cong Ren: For example, a 5-year-old or 10-year-old may be smart or inexperienced, but what he does is innovative and can be tried. So I think we shouldn't call them barbarians. The Internet has brought great inspiration to the traditional financial industry, but the financial industry has also accumulated rules over the years. The development of these emerging companies also needs to understand the rules clearly, otherwise it will have some negative impact on the society as a whole.
Xie Guozhong: I understand that FinTech is a broader concept than Internet finance. I share with you all the issues related to financial technology that Sunshine Insurance has done in recent years. The first is UBI auto insurance, which has been active for more than a year and has 85% activity. The second is the blockchain. Sunshine is the first company in the financial community to try the blockchain production. The third is that we have implemented big data connection between the cloud and the local. The fourth is to cooperate with domestic and international artificial intelligence vendors; the fifth is the existing Internet financial business unit Huijin.
Yu Feng: The emergence of financial technology has two backgrounds. The first is based on data, and the second is based on technology. In this context, innovation is actually a means or means of financial services. The final destination is the same as Internet finance, and it is all financial. Their participation has promoted the development of the industry's ecological chain. However, real financial services need professional skills. This is our advantage.
Yu Guan: According to personal observation, financial technology is not a new term, because I think finance and technology are inseparable. From the perspective of the industry as a whole, financial investment in science and technology is at the top of the list, and the technology industry has been promoting the improvement of the financial industry experience. Instead of contrasting the two, I think that FinTech has some obvious features: the first to focus on retail financial services; the second to focus on customers of 80 to 2000 generations; and the third is the obvious application level of big data. Above the bank, the fourth is that financial services and customer scenarios are very well connected; the fifth is pure digital operation; the sixth is mobile priority. Some large e-commerce groups and technology companies have made financial services like an invisible bank based on their own advantages, but their services are everywhere. FinTech does bring a lot of thoughts to us. I think the three companies in e-commerce, technology, and Internet companies will have different gameplay and growth paths in the financial technology field.
Xiao Jing: The potential of financial technology is very large, but it has not yet fully exerted its power. The safe internet finance model includes a lot of FinTech content. Whether it is more popular technology or artificial intelligence for big data mining, Ping An is doing it. Although it took a lot of time to integrate, there will definitely be more efforts to be made. There are many opportunities.
Lin Yifei: It can be heard that everyone is very concerned about the integration of big data, smart and financial fields, and it is ready to go. Do you think it is necessary to pay attention or the most difficult thing when doing integration?
Cong Ren: I think it is very difficult to quantify the consciousness and finally get a consensus on this matter. The first is that the data thinking of the entire company, including everyone, cannot enter the bloodstream. The second thing, you just mentioned that you can't optimize without quantification. You can't quantify and have no way to assess. This matter is whether an organization has the determination or the driving force to do it. This is the most important thing in talking about so many things. The starting point.
Xie Guozhong: In the face of the biggest challenge of financial technology, it is still necessary to find a scene in which the core of finance is set. For example, everyone says blockchain. Where is your scene? I think our leadership is better. We have found a way to apply this technology from the aviation insurance card slip. Finding the financial scenario is the biggest challenge. This is also our next step. We really need to combine technology and financial scenarios to promote this business.
Yu Feng: After two years of exploration, I feel that the entire data management system has been completed at the level of IT and the Internet Agency. However, just now it was stated that the advantage of realizing the professional financial capability of financial institutions should not be taken by these two departments. It needs the cooperation of various departments of the company. I think the hardest thing is to establish a digital tracking model throughout the company. This is both an idea and an implementation. I think this is a challenge in the coming years. If this is not established, it will be difficult for us to adapt to the challenges posed by financial technology.
Yu Guan: First of all, the hardest and most crucial thing is how to change and cultivate the habit of all the useful numbers. Secondly, although everyone said that FinTech has developed, I think the biggest advantage of banks in the short term is the outlets. FinTech is not trying to cut down the outlets, but to make the advantages of outlets stronger, and exporting SmartData from above to below. , And let the following have a lot of independent and flexible capabilities to use the data, this driving force will better turn big data from a concept into a reality.
Xiao Jing: I think we must have a cooperative and win-win attitude before we can really do a good job. There are three levels. First, the boundary between technology and business is ambiguous. They must cooperate to achieve a win-win situation. The second is that different departments within the organization must cooperate and win together. The third is to win cooperation with the outside world, that is, people and machines. The data also have to cooperate and win together.
Lin Yifei: Thank you, and I hope you will have the opportunity to invite you to the summit again next year!
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