Ali, whose IPO was successful, attracted people's attention. Although Ma Yun wanted to make a turnaround in the once-delisted Stock Exchange, the unavoidable partner problem made Ma Yun choose new york. Ali, known as the largest IPO in the history of US stocks, attracted people's attention after winning this capital feast. Various interpretations are full of water, and Ali does have several strategic real events:
First, the integration of the treasure business of Zhejiang online merchant bank and ant financial service, which has just broken its shell, is the layout of internet finance;
Second, the mind is bigger than the pattern, and it is determined to become another Taobao Alibaba Cloud service;
Third, take over Hang Seng Electronics, which provides data services for traditional financial enterprises;
Fourth, Alipay is fully open, while strengthening the service window to help O2O enterprises;
In the small and micro world of ants, it carries Ali's big dream. Ant Financial's business is all-encompassing, but the core is still the openness and enjoyment of the underlying platforms such as big data, credit system and cloud computing. Ma Yun is willing to let go of his arrogance in the past and vowed to connect and serve traditional finance with an open mind, so as to win a win-win situation with grassroots consumers and small and micro enterprises in China. This is a major shift in Ali's thinking on Internet finance.
Ali, with a market value of $230 billion, also has the fear of living alone in the hustle and bustle. Q2' s profit is as high as 40%, far exceeding Yi Bei 18%, and Amazon, which lost 0. 1%, was left behind. High valuation has increased the pressure for sustained growth. Although Ma Yun hinted that an e-commerce integration war centered on acquisition may be launched on a global scale, at least at present, its profit prospects are not clear. In the PC era, Taobao, which has absolute dominance, is facing the test of mobile tide. It remains to be seen how the service window will respond to the challenges of WeChat Enterprise and Baidu Direct.
Ali, who reinforced Gaode, is still slightly weak in the O2O field. Ali, who became a traditional enterprise after listing, needs to be responsible to investors. It is particularly important to find the theme of high growth, which is why Ali especially likes products with high capital level. In the foreseeable future, only Ali Finance can support this growth. Ali regards big data, cloud computing, trading platform and mobile payment as the four key words of Internet finance. Among them, the mobile payment and trading platform, Ali has the earliest layout and rich experience, while cloud services seize the new continent in time, but Ali wants to turn advantages into victories, and big data is the key to breaking the game.
Ali Finance, which is expanding rapidly, urgently needs the landing point of real economy and virtual finance. If the central bank's suspension of virtual payment is a counterattack against traditional finance, it reflects the different mentality of Internet giants. Tencent took out Qianhai Weizhong Bank, and Ali offered another magic weapon besides integrating Ant Financial Service, namely Sesame Credit, which has been kept secret so far.
Focus: Ali Finance needs a sound credit ecosystem.
The river can reach its destination because it knows how to avoid obstacles! Since the evaluation system of Tonghe China in 2002, Ali's credit practice has gone through 12 years and reached a crossroads in 20 14 years. No matter how people lament that the central bank has stopped the conspiracy behind virtual finance, the basic safety standards it emphasizes are still reasonable, and the moral and public opinion risks of the central bank are nothing more than doing the right thing in an improper way!
Traditional finance has many doubts about virtual finance, and one-way closed data is even less likely to support the latter. This also explains why the Hang Seng electronic merger case, known as the full license, will make traditional financial enterprises so worried. After all, Hang Seng Electronics has a market share of over 80% in IT services in the fields of funds, securities, insurance and bank financing. Although this merger case has gone to court in the Ministry of Commerce, Ali is not optimistic. Traditional financial enterprises must make every effort to prevent the possibility of being marginalized by internet finance. At that time, traditional communication companies failed to prevent WeChat's OTT from hollowing out and pipelining their platforms, and the mistakes were not far away. What will happen in the future depends on Ma Yun's gambling.
The fortress is the easiest to break from the inside. Ali once found platform fulcrums such as CITIC Bank and Zhongan Insurance in the traditional financial field, but he was never able to shake the whole system. Sesame credit provides a brand-new idea for unlocking this dilemma, that is, when it cannot rely on the traditional financial system, it establishes its own credit evaluation system and independently realizes the risk control of Internet finance.
Beautiful ideas such as financial innovation cannot solve everything. On the issue of deposit interest rate, no way back's Yu 'ebao is an example. It is undoubtedly unwise for Ali to provoke a war of words because of conceptual original sins such as currency idling and shadow banking. After all, innovation and supervision cannot be opposed forever. Fortunately, Ali finally realized that before establishing a similar fuse mechanism, promoting products such as trustworthiness for quick success and instant benefit will only increase distrust with the traditional financial system. The Outline of Social Credit System Construction (20 14-2020) issued by the State Council is an opportunity. Ali promptly shouted out the slogan of "turning credit into wealth", and sesame credit came into being.
However, finding a dead chess robbery does not mean that you have the means to win chess. The core of sesame credit inciting Internet finance is data. Although Ali has a strong technical reserve, does not lack the energy of public relations, and can also mobilize the resources of Amoy business, its data based on e-commerce still has shortcomings. The launch of Hang Seng Electronics and Alibaba Cloud Service will increase the accumulation of external data, but the core data can only be generated on its own platform. Sesame credit is to solve the credit problem in the scene of strangers and strange transactions, so it needs to be based on a series of big data generated by consumers and enterprises. According to Ali's thinking, there are roughly three channels to obtain these data:
1, Ali data
Basically, it is Taobao merchants+Xiaoweijinfu. This is Ali's strong point, which can form a basic consumer portrait.
2. Cooperation data
Mainly from the group's subsidiaries and extension enterprises, such as Gaode, Youxin, Weibo, Kuai and so on. Ali's expansion and acquisition at the product line and capital level will expand this part of the data, such as the Alibaba Cloud service, which has been in full swing recently.
3. Institutional data
Some data from the government and regulatory authorities and some closed industry data. Ali certainly hopes to collect these data smoothly, but Ali, who started from the Internet, seriously lacks the right to speak in these fields.
The information disclosed inside Sesame Credit shows that Ali has high hopes for the latter two types of data, especially the representative enterprises in the O2O field. There is a simple reason. Without the data support of these large entities, Sesame Credit cannot grow into a real Internet financial credit system only by e-commerce data, and it is even more impossible to complete the mission entrusted to it by Ali.
Ali has planned a set of strategies to open up two core areas for Sesame Credit: financial services and life services. The former Ali has accumulated certain theory and practice, while the latter has always been Ali's shortcoming. The introduction of cloud services has solved some problems, and the rest should be full of fanatical efforts. In Ali official website, zhima.alipay.com's second-level domain name has been used for some time, but the prompt you expect is very ugly. The secret sesame credit is tight inside and loose outside, and BD and PM attack on all sides, desperately seeking possible cooperation.
Question: What can Sesame Credit do for Ali?
What is the significance of Sesame Credit, which does not create wealth by itself, to Ali? In fact, it can be summarized as two things:
1, avoid the minefield and save the country by curve.
The security and credit system of traditional financial institutions, while avoiding risks, has also built barriers for Internet finance. Security mechanisms such as credit card face-to-face interviews have caused Internet finance giants like Ali a headache. In addition, Ma Yun will probably regret his previous high-profile statement: the current financial system serves 20% of the economic cells, but takes 80% of the profits! Not to mention the aggressiveness of Peng Lei, CEO of Ali Finance: Ali Finance has no restricted area, and small and micro customers can do whatever they want!
From 2065438 to March 2004, the central bank suddenly stopped, largely because the virtual credit card only verified the real name of the Internet company, and made a comprehensive judgment based on the transaction behavior, account opening time, account login, account security and other factors. Although the bank will still check, in the view of the regulatory authorities, there are still problems in customer identification and information security, that is, the credit limit of virtual credit cards is low, and it is supported by fraud and overdue payment provided by Zhongan Insurance.
The core of Sesame Credit is to bypass the minefield of traditional finance through self-built credit system and complete the great cause of saving Internet finance by curve. Of course, there is a popular premise: the sesame credit system has been recognized by both the real economy and traditional finance.
2. Complete the closed loop of Ali Finance.
The field of personal consumer finance other than e-commerce is the last shortcoming of Ali Finance, which makes sense. Ali has accumulated considerable data in eight aspects: customer characteristics, financial assets, social relations, consumer payment, behavioral preferences, personal files, user groups and geographical location. Small loans and account cancellation have begun to take shape, and traditional financial fulcrums include CITIC Bank and Zhongan Insurance. If supported by offline data with O2O as the core, it is not out of reach to establish the first real Internet finance database in China.
3. Make up the last short board
The line is too strong, which has made the last short board of Ali barrel, namely vulgar O2O. Compared with the official account of WeChat and the aggressiveness of the enterprise, the Alipay service window was launched too late. In the process of connecting the preceding with the following, we have to face the challenge of Baidu directly. The most dangerous situation for Ali is that once the user habits in the mobile era are developed, Ali's glory is likely to disappear with the end of the PC era.
It is not easy for Ali to maintain a super high profit of 40% after listing. The domestic e-commerce market has already dried up, and Ali's mother has no potential to tap. Overseas mergers and acquisitions are slow. If Ali wants to send good signals frequently at the capital level, he must rely on the rise of microfinance. If Sesame Credit can obtain offline data of O2O enterprises, it will undoubtedly provide decision-making basis for Ali Finance and its future business expansion.
Challenge: Sesame credit is directly questioned
Ideally, Sesame Credit can solve the problems of credit, security and authentication for Ali. Cross-border cooperation has improved the integrity and comprehensiveness of data, but there are still many problems in terms of implementation and law enforcement, such as how to obtain and use data and control spillover risks.
1, extremely dependent on the support of industry.
The once fashionable Internet thinking is now ridiculed as a sunflower collection, and large-scale entity enterprises represented by Lenovo and Huawei are also quite critical of the offside marketing of Internet companies. Internet is changing from a deified object to the deepest fear in the hearts of traditional enterprises.
In order to succeed, Sesame Credit must complete the data docking of traditional enterprises. Among the six industries that Sesame Credit is most concerned about, this work is not progressing smoothly. The fundamental reason is that Ali understands the meaning of Sesame Credit, but cannot describe its value to the real economy. Who cares about a thing that has nothing to do with themselves?
Sesame Credit hopes to provide similar credit verification services for some mature companies or startups through data docking, and already has some financial genes. Among the enterprises that have completed the sesame credit docking, there are not only marriage websites such as Lily.com, but also the Airbnb model of short rent Pig and SouFun Travel, as well as some car rental companies and some P2P car rental companies. But these small partners are either too vertical and too subdivided, or their scale or share is too small and meaningless.
For example, Lily.com once talked about the concept of credit marriage and love, but it was more of a gimmick that differentiated competition with other marriage and love websites, and did not rise to the actual business level. Another example is the supreme car rental. Alipay's service window once had some similar account cooperation with it, but the supreme car rental, which has long been marginalized in the domestic car rental market, is only symbolic for Alipay and Sesame Credit. P2P car rental is very willing to accept Ali's olive branch, but Ali is not very interested in this entrepreneurial model of wandering in the gray area.
It has been accused that Ali's real purpose in launching cloud services is to covet the data of these enterprises. But even if Alibaba Cloud is a small version of Snowden, what are the core data of those companies that don't even have IT development capabilities?
In addition, because Sesame Credit has always provided credit guarantee for post-paid hotel products for Amoy Travel, Ali takes it for granted that this operating model is easy to replicate and expand outside the system. However, according to reliable sources, despite great efforts, Sesame Credit has not shaken companies with big data, such as China Mobile, China Unicom, China Telecom, Airbnb, hotel chains, airlines, car rental companies, etc., and whether the data outside these systems can be successfully accessed will determine the success or failure of Sesame Credit.
Ali has to solve not only the concerns of traditional enterprises about data security, but also the demons of fear and suspicion of Internet companies. The reason why Ma Yun often appears in traditional enterprises and makes wonderful sermon-like speeches is not purely the pride of the winners, but also a deeper consideration.
2. Risk control, compensation and recognition mechanism
Ali has been exposed to the crossfire of other internet giants and traditional finance because he has robbed virtual credit cards and trust treasures. In essence, Tencent Qianhai Weizhong's "big deposits and small loans" can better solve the traditional financial system than Ali's "small deposits and small loans". Alibaba Bank, which has no physical outlets, is too advanced in concept, and it is not surprising that it is absent from the first batch of pilot banks of CBRC. Although Tencent's "inclusive finance" still stays on paper,
At least at present, no one can doubt whether Sesame Credit in Yunshan Fog can bear Ali's high hopes, but one thing is certain: Sesame Credit has established an evaluation system, and it must bear the risks it brings. For example, P2P car rental introduces the certification system of Sesame Credit. In case of the risk of cheating or losing the car, will Sesame Credit compensate? For example, Bai found a high-quality customer of Sesame Credit in Lily.com, but was cheated by money. Is sesame credit responsible? This is what Ali must face. More importantly, the evaluation results provided by Sesame Credit must be recognized by traditional financial and offline enterprises, otherwise it is meaningless.
3. Manual intervention and information output
Technology is not everything, and the safety standards of traditional finance are not completely meaningless. Ali established the Weizhong Bank project very early, and invited Yu Shengfa, the former president of Hangzhou Bank, to take charge of it. However, it will carry forward the advantages of Internet finance in the form of branchless banks and inevitably introduce some manual intervention mechanisms, which is in direct conflict with Ali's original idea of online big data to solve everything.
Information output means that Ali's data must be fed back to traditional financial and entity enterprises in some form. As the forerunner of Internet finance in China, whether Ali is willing to do it, how to do it, the standardization of information disclosure and how to supervise it will test his wisdom.