In the wave of "Internet", Internet financial service projects such as Internet insurance and Internet financial management are emerging one after another. The emergence of Internet banking not only has an impact on the old regulatory system. On the other hand, it also intensifies fierce competition in the industry.

Tencent’s WeBank and Alibaba’s MYbank, as the only two Internet private banks among the first five approved private banks, are also private banks under Internet giants. It has always been regarded as a reference object and competitor by the industry.

Relying on emerging technologies and innovative spirit, Internet banks have transformed and innovated traditional finance by using emerging technologies such as cloud computing, big data, and mobile Internet. Although according to published information, they have achieved good results. , but these two private banks are also different. Below, Tianyan will make a simple comparison for everyone:

MyBank: Mybank is definitely a bank that serves small businesses, focusing on loans of no more than 500 Ten thousand yuan. At the same time, it can also be explained that small and micro enterprises, individual consumers and rural users are the target customer groups of online merchant banks.

WeBank: WeBank is mainly positioned to provide users with personal consumption financial services such as shopping and travel. At the same time, WeBank does not have a PC business website, but instead focuses more on mobile.

1． Current demand

MYbank: Current demand is divided into true current demand and Yu Libao. The annual return of real current demand is 0.42, while the annual return of Yu Libao is about 2. It is a currency base of Tianhong Fund, which is different from Yu'e Bao.

WeBank: The current deposit is the Sinolink Zhongying Monetary Fund, with an annualized rate of about 3. It is specially created by the Sinolink Fund for WeBank. The current balance can be transferred out in real time, with a daily limit of 3 million. The current balance can also be used to invest in other products in WeBank.

2． Current financial management

MYbank: There are no current financial products.

WeBank: Short-term financial management is mainly based on some currency funds and quasi-currency funds, such as Pacific Gain (Pacific Securities), GF Duotianli (GF Securities), etc., with limited purchases.

3． Fixed term

MYbank: The 3-year maturity interest rate of Dinghuo Bao is 3.85, but the interest rate for early withdrawal of Dinghuo Bao is 3.2.

WeBank: The interest rate of the 3-year term product is 4.1, which is slightly higher than Dinghuo Bao. WeBank's early withdrawal portion is calculated based on the current deposit interest rate, and the general annualized interest rate is around 0.35.

4． Loan business

MYbank: Trust payment is a purchase-and-pay service provided by MYbank to small and micro operators, "get the goods first, pay later". Wangnongdai mainly targets the target group of rural finance and requires the review of Runtao partners. Online business loans are aimed at entrepreneurs or small and micro enterprise groups.

Weishang Bank: Weilidai currently provides users with a credit limit ranging from 500 yuan to 300,000 yuan, which varies according to the individual's comprehensive situation. A single loan can range from 500 yuan to 40,000 yuan. No mortgage or guarantee is required, and there is no need to submit any paper materials.

In addition, WeBank also involves insurance and other businesses that are currently not available in online merchant banks.

MyBank: According to media reports, 2/3 of its employees are data modelers.

WeBank: According to media reports, 40% of its employees are from Tencent’s Internet product developers.

MyBank: The "self-operated platform" model connects the capital needs of small and micro enterprises on one end, and on the other end there are fund suppliers including a series of traditional banks, and has cooperated with insurance and trust companies. and other institutions to discuss cooperation.

WeBank: It has launched inter-bank cooperation with traditional banks, signed cooperation agreements with banks such as Hua Xia Bank, and carried out services including inter-bank credit extension, joint issuance of small loans, joint issuance of credit cards, and agency sales of wealth management products and many other cooperations.

What Internet banks are currently doing is actually linking all parties, exploring inter-bank cooperation, realizing complementary advantages between banks, and building a sustainable and new Internet financial ecosystem. Internet banks and traditional financial institutions are not simply substitutes. The Internet is both a channel and a moat. If traditional financial institutions make good use of the advantages of Internet banks and fully cooperate and integrate with them, they will form a more powerful force.