New changes in financial technology: Internet institutions go to financial and financial institutions to focus on technology.

New changes in financial technology: Internet institutions go to financial and financial institutions to focus on technology.

Xinhua News Agency, Beijing, Oct. 5

Xinhua News Agency reporter Wu Yu

With the continuous development of Internet finance, the conflict between Internet giants and financial institutions has also been changing. On the one hand, Alibaba, Tencent, Baidu and other Internet institutions have been "de-financialized", focusing on technology enabled finance; on the other hand, more and more financial institutions set up financial technology subsidiaries to export technology. Industry insiders believe that financial technology in the delicate relationship between the two sides, is entering a high-speed development stage, financial services capacity or can be "fused" to enhance.

In September, many people were concerned about two things: one is that Jingdong Finance changed the name of official micro-blog, official headlines and so on to "Jingdong Several Branches", the other is that Pudong Development Bank initiated the establishment of a "scientific and technological cooperation community". "Science and technology" has become the theme of the next stage to lead the strategic development of these two institutions, but also reflects the focus of the current Internet and financial institutions.

At the Boao Forum for Asia in April, Chen Shengqiang, CEO of Jingdong Finance, proposed "not to do finance" and said that future financial services such as Baitao, Beijing Baobei and Beijing Small Loan could be transferred to financial institutions. And this rename "Jingdong Digital Science and Technology" is regarded by the industry as the full release of Jingdong financial digital technology strategy, can be said to be its recent "de-financialization" of the biggest move.

This reflects the new trend of Internet finance at the moment. Under the background of strict supervision and financial deleveraging, Internet institutions will face greater pressure to expand their financial distribution. More and more mutual fund institutions are transforming from similar financial institutions to technology companies. Zhu Guang, head of Baidu Finance, has made it clear that Baidu Finance will not seek a full financial license and controlling rights, but will only obtain the necessary future "test fields" to verify the financial technology capabilities. Ant gold clothing has been promoting a new technology export strategy in the areas of rental, travel, payment, government, medical and other urban services.

At the same time, many banks have done a lot of work in "financial technology". At present, Societe Generale Bank, Ping An Bank, China Merchants Bank, Everbright University Bank, Minsheng Bank and Construction Bank have set up subsidiaries of financial science and technology, not only to develop their own financial services, but also to export technical capabilities. And in June 2017, the state-owned big banks and Internet giants have "paired" after the "war" of financial technology is a prairie fire.

With the financial technology becoming the focus of the market, the IT service manufacturer Wensi Haihui Technology Co., Ltd., which has been established for more than 20 years, is ready for a big fight. "2018 is the year of financial technology change, the Internet giant high-profile entry, banks began to attack the city strategically, technology companies have to break through the transformation. Because the financial technology industry is always new and subversive. However, science and technology can only accelerate development in open cooperation, financial institutions and Internet institutions can not develop in a closed environment, it is bound to break the closed deadlock.

Recently, the Pudong Development Bank initiated the establishment of a "Science and Technology Cooperation Community", and signed a memorandum of understanding with the first batch of 16 well-known technology companies at home and abroad to innovate new financial science and technology business models.

Pan Weidong, deputy governor of Pudong Development Bank, said that most of the contracts between banks and technology companies are project delivery and equipment procurement. After joining the "Science and Technology Cooperation Community", the partners are no longer short-term cooperation, but focus on long-term development, deep docking business scenarios and technology research and development. "Through the new model, banks can quickly apply innovative technology, technology companies can improve the application of technology in the real business scenario of the bank. At the same time, we will research institutions, upstream and downstream suppliers and consumers together, sharing technology, sharing results, sharing revenue, and achieving common growth."

Yuan Xin, vice president of Microsoft China, said that as a veteran IT company, Microsoft has witnessed the transformation and development of many Chinese commercial banks, including Pudong Development Bank, and marveled at the unremitting pursuit of technological innovation by Chinese banks in the past 20 years. Because of this, Microsoft is more firmly convinced that it will continue to increase its R & D investment in China in the future.

"Technology is the driving force for future business development." "Commercial banks are facing many pressures and challenges, and some financial services problems can not be solved without scientific and technological thinking and means," Pan said. With the continuous development of financial science and technology, the core competitiveness of financial institutions and financial services capabilities will be'fused'to enhance.

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