Yin Binbin said that after golden decade, the challenges faced by China's banking business continued to intensify, and the changes in macroeconomic situation, fierce market competition environment and escalating regulatory policies had an all-round impact on bank operations.
On the one hand, the domestic economic growth rate continues to decline, and deepening the supply-side structural reform has prompted some enterprises to release credit risks one after another, and bond defaults have occurred from time to time; On the one hand, the intensification of industry competition and the erosion of internet financial formats have made the problem of bank deposit loss severe and debt derivation weak. With the post-80s and post-90s Internet generation gradually becoming the mainstream wealth group, they are more willing to enjoy efficient and fast one-stop financial services, and users' funds are transferred to the Internet financial platform on a large scale.
Not only that, the regulatory policies that have been introduced one after another have also put layers of "tightening spells" on the banking industry. Among them, the most influential new asset management regulations were promulgated in April this year, which imposed strict restrictions on breaking foreign exchange, limiting maturity mismatch, and prohibiting fund pools. On July 20th, the detailed rules were promulgated, which clarified the non-standard investment return, asset management product valuation and outsourcing nesting, further forcing the transformation of bank asset management business.
"Public Offering of Fund has implemented net worth management since its birth. Whether it is the custody system, the trust system, or its accumulated investment and risk control capabilities for many years, it can provide a lot of practical experience for the asset management industry. " Yin Binbin said, "Under the market trend of' financial technology+',small and medium-sized banks can transform and upgrade from three aspects: products, investment and research and services through the comprehensive application of Public Offering of Fund and technical means."
First of all, Public Offering of Fund can help banks build a multi-level wealth management product system. "It is difficult for investors to get rid of the thinking of' money only' in a short time. Banks can strengthen users' stickiness with cash management products based on goods and wealth management products that are regularly opened, and on this basis, establish absolute income products with stable income and enhanced rights and interests; In the medium and long term, banks can further subdivide demand and establish characteristic product lines suitable for their customers. " Yin Binbin said.
Secondly, banks can quickly expand their investment boundaries through investment, outsourcing and FOF, participate in the investment transaction process, and cultivate their own investment and research capabilities. In this process, the application of scientific and technological means and technological innovations such as intelligent investment and research will help banks further improve their investment and research efficiency and competitiveness.
"In addition, in order to realize the transition from product sales to wealth management, banks need richer asset classes and diversified services." Yin Binbin said, "By selling Public Offering of Fund's full range of products and providing multiple services such as intelligent investment, intelligent marketing and scenario financing, banks can further improve the layout of sales systems and enhance their ability to serve customers."
However, due to geographical and channel restrictions, small and medium-sized banks have uneven bargaining power, so it is difficult to directly introduce wealth management products to large fund companies. Even if cooperation is carried out, a large number of products are connected to the platform, and its technical research and development capabilities and operational experience are difficult to meet the needs of end customers.
In this regard, Yin Binbin said that Luen Thai Fund, as an independent third-party fund sales organization with a license issued by the China Securities Regulatory Commission, has always insisted on deepening the large asset management industry and satisfying institutional and individual investors through years of accumulation of its own products, technologies and data. In view of the demand pain points of small and medium-sized banks, the company has achieved technology landing at two major application levels, providing one-stop financial service solutions for financial institutions.
Among them, Polaris, as an online financial product trading platform serving institutional investors, has greatly improved the product investment and trading efficiency of institutional investors through online account opening, account management, product screening, online trading, process control and post-investment performance evaluation in view of the different needs of financial institutions in terms of liquidity, operation convenience and research convenience.
Luen Thai Fund packages and exports products, technologies, data and services through the intelligent financial open platform, and provides one-stop retail banking solutions for small and medium-sized banks, including cash treasure accounts, fund supermarkets, intelligent investment and so on. At present, Luen Thai Fund has reached cooperation with many urban rural commercial banks, such as Lanzhou Bank and Jiujiang Bank, and used its rich platform building experience and strong scientific and technological innovation ability to assist cooperative banks to build financial product service platforms and provide safe and efficient trading service experience for their investment users.
The industry believes that the short-term significance of financial technology lies in improving business efficiency, improving user experience and consolidating and expanding customer base. In the medium and long term, it is conducive to exploring and cultivating new sub-businesses, thus promoting the reconstruction of bank operating mechanisms and processes. It can be predicted that with the continuous advancement of banking reform, more and more small and medium-sized banks will explore and break through their own business models by using financial technology and optimizing service processes.