Jingdong Finance has deep cooperation with various financial institutions and non-gold institutions under the existing data technology advantages, which together drive the development of the financial industry and bring inclusive financial services to users.
Jingdong Finance has been operating independently for more than three years, established seven major technology financial business segments, completed the business layout from “0 to 1â€, and began to move from “1 to infinity†for rapid growth and self-iteration.
Building core competencies
Jingdong Finance focuses on data-driven risk pricing and regards it as the core competence of the company. JD Finance continues to enhance its data acquisition capabilities, build data technology capabilities, and develop data model products on this basis.
Judging from the data acquisition within the Jingdong system, Jingdong Mall's e-commerce data and Jingdong financial data for three years have become rich data sources.
It is understood that Jingdong Finance will increase its total investment in technology in the next three years by more than 100%, which will also strengthen the financial and technological strength of Jingdong Finance.
Taking the business of consumer finance as an example, the core risk pricing model has been built using big data. The model currently covers more than 30,000 variables and has scored credits for more than 200 million users. All of these are operated by the system, without any manual review, and the efficiency is at least ten times higher than the traditional mode, and naturally there is a cost advantage.
"From 0 to 1"
In terms of personal finance, JD Finance starts with consumer finance, crowdfunding, wealth management, payment, insurance and smart customer service, providing a full range of financial solutions for consumers and families.
Users can enjoy convenient consumer installment services, and the large payment system built by “White Stripâ€, “Small Treasury†and “Jingdong Payment†can also provide users with more diversified choices when paying.
In addition to helping users optimize their consumption experience, Jingdong Finance also provides users with a full range of low-cost, high-quality financial investment services. Through Jingdong crowdfunding, users can support and customize their favorite high-quality innovative products to achieve consumption upgrades. At the same time, users can enjoy the intelligent customer service service independently developed by Jingdong Finance, and realize no worries about consumption and investment. Jingdong Finance integrates the above services into the Jingdong Financial APP, a comprehensive mobile platform for finance and life, and advocates a lifestyle that “will make money and understand lifeâ€.
Jingdong Finance's corporate finance business relies on the underlying big data, risk control, technology and other capabilities to provide credit, wealth management and corporate payment services.
From 1 to infinity
In order to provide menu-based and embedded infrastructure services to a wide range of financial institutions and non-financial institutions, JD Finance has opened up its five capabilities in terms of users, assets, Internet products, capital, and technology to traditional enterprises and Internet companies. The output of financial technology capabilities, empowering banks, fund companies, insurance companies, brokerages, entrepreneurial innovation companies and other institutions and enterprises.
Jingdong Finance believes that for the long-term value of a company, we need to pay attention to two aspects, one is high-speed growth, and the other is self-iteration. In the process of self-iteration, there is a sample that can be referenced, just like the process of bees building a beehive. They always build a hexagon first, and use this hexagon as their basic ability, and then around the six sides. The shape continues to extend to the outside, expanding more hexagons, making the periphery of the nest continue to expand.
In 2016, Jingdong Finance has steadily and rapidly advanced in many fields.
Jingdong's consumer finance business has released the “White Strip†brand strategy, which outputs the core capabilities of the white strip to the whole industry, covering education, automobiles and other scenarios. "Little White Card" has cooperated with China CITIC Bank and China Everbright Bank to become an "Internet +" joint credit card with global consumption function.
In March 2016, Jingdong Finance invited “White Bar†users with cash loan needs to open “gold bars†to experience cash lending services.
In September 2016, Jingdong Finance launched “White Stripsâ€, nearly 20 million UnionPay flash POS machines and 8 million merchants can support “white barsâ€.
What can be seen is that in 2017, the technology-driven industry transformation has become an established direction. Jingdong Finance, which values ​​data and continuously iterates its technical capabilities, continues to build a financial technology ecosystem and open new technologies through better service financial institutions and non-gold institutions. The revolution has led the industry into a new pattern.
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