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The logic behind the mutual gold giants


Recently, the mutual cooperation between the mutual gold giants and the big banks has been more and more mixed at the account level, data level, technology level and business level. For many people, the style of painting seems to change a bit faster. A few years ago, "If the bank does not change, we will change the bank." After a few years, we will shake hands and move toward cooperation and win-win. What is the logic behind it? What is the appeal of both sides? What problems will you face when landing?

From the perspective of an industry researcher, simply say the next word, inappropriate, please bear with or leave a message.

The convergence of technology (Fintech) and business (Finance)

To understand the logic of cooperation between mutual gold giants and traditional financial giants, it is important to understand that no matter whether a company is positioned in Fintech, Techfin or a pure financial institution, it is beginning to face such a situation, that is, financial technology and finance. Business is becoming more and more inseparable. In some specific situations, the two may even merge and merge.

A simple logic is that neither big data nor artificial intelligence comes from pure scientific research or cutting-edge technology. It requires the data of the front line of the business to be perfected; whether it is distributed technology such as blockchain or the Internet of Things, Biometrics, etc., also need to be integrated with the business side to be able to land and evolve and improve. Similarly, any financial product and business needs to absorb cutting-edge technologies and models in a timely manner to ensure continued competitiveness in the customer experience.

The convergence of technology and business is reflected at the institutional level, which is the co-prosperity of technology and business, and is indispensable. If you can't find enough business application scenarios, it will be difficult to continue to lead; the business and services that cannot continuously absorb advanced technologies will inevitably affect the user experience.

The cooperation logic between mutual gold giants and financial giants

From the perspective of mutual gold giants, with the landing of the regulatory framework, it faces the problem of mismatching in technical strength, customer base and business development space, that is, the business is positioned in small amount of general benefit, but its technical strength, data accumulation and customer base Basics, etc., all have larger application scenarios and spaces. In this context, the cooperation with traditional financial giants to achieve maximum use of internal "redundant" resources has become a matter of course.

In addition, from the evolution of financial technology itself, the business scenario is much better. When the company clarified the positioning of “financial technology”, it also buried the “open cooperation” gene. Otherwise, its positioning is difficult to land.

From the perspective of financial giants such as banks, although the financial strength and business model are complete, it is indeed at a disadvantage in data accumulation, scenarios, marketing and new model exploration. It is indeed feasible to complement the shortcomings through cooperation with mutual gold giants. select.

Moreover, under fierce market competition and urgent transformational pressures, financial giants have high expectations for growth and transformation through cooperation. This expectation has broken through its “conservative” atmosphere and, to some extent, accelerated cooperation. Achieved.

It will take a long time to be separated.

The cooperation between Internet companies and big banks had a sweet start ten years ago, and later they parted ways. It is no better to see cooperation in other fields. Therefore, if we look at the long-term perspective, we naturally need to consider whether this cooperation can last forever. It will take a long time to be separated, and will it be divided for a long time?

In my opinion, there are some different obstacles in the short-term and medium-term phases.

In the short term, there are probably several factors:

The first is whether the open mind is true or false. If the open mind is true, at least in the short term, everyone is expected to see progress in specific areas; otherwise, there may be no following.

The second is how determined the openness is. In the process of cooperation, the customer and the data are the core and belong to the transferable assets. If you change his, his can also become yours; the scenes and funds are secondary, and whoever is always Whose. As for the separation, it is even more important. It will be fine according to the agreement. So, how big is the assessment of openness, not by looking at the scenarios and funding, but by looking at customers and data, and sharing them? How much is shared?

The third is difficult to land. A good cooperation agreement, in the big open determination, is likely to be difficult to produce in the implementation of the landing, which has detailed problems, complementarity issues, more cultural issues, as well as differences in understanding and understanding between the decision-making and executive levels. Every family has a difficult experience, and every pair of partners also does.

In the medium and long term, there are probably several factors:

The first is the integration of technology and business. With the deepening of the integration of technology and business, objectively, the combination of technology institutions and financial institutions will also be required. At this time, either the two sides will further strengthen cooperation. If you have me or me, you will be tied together. Or you will have to part ways and find partners who can achieve the combination.

Second, competition between self-operated business and partner business. At this stage, the mutual business of the mutual gold giant and the banking business are complementary. The competition is not the main contradiction, leaving room for the cooperation between the two in science and technology. As time goes by and the natural evolution of the business, how much competition will the two sides compete at the business level? Will this kind of competition in turn affect technical cooperation? This is a long-term issue that deserves attention.


From an international perspective, the next few years are a period of great development in financial technology. The sincere cooperation between the mutual gold giant and the financial giant is expected to significantly increase the probability that China's financial technology will stay ahead in the international arena, both for the company itself and for the entire industry.

It is not difficult to foresee that there will be more and more similar cooperation in the future. Of course, some are unsuccessful or even simple gimmicks, but there will certainly be some classic cases, let us continue to wait and see.

Author: Xue Hong Yan; micro-channel public number: Hung Yan whisper


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