New Retail New Payment New Consumption. Enabling Retail

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1 New Retail New Payment New Consumption Enabling Retail

2 Open banking Open Banking is a financial services term as part of financial technology that refers to: The use of Open APIs that enable third party developers to build applications and services around the financial institution. Greater financial transparency options for account holders ranging from Open Data to private data. The use of open source technology to achieve the above.

3 Financial Institutions and Financial Technology Company: Despite the different market positioning, FinTech collects and mines data in two major directions: Enrich data sources and find alternative information to cover the long tail market; To accumulate data, it is feasible to dig data only if there are enough data. The ultimate goal of the effort on increasing data breadth and depth is to capture the benchmark position - who can build a new and widely accepted assessment system based on big data (rather than the traditional credit or risk rating system). Specifically including the quality of loan customers, the risk of financial transactions, interest rates, pricing, he (she) will share the most generous in emerging financial markets. Therefore, the secret of emerging finance is not whether to move financial transactions to the Internet platform, but rather what information can be obtained through the Internet and computer technologies to support decision-making, and how information technology and big data have changed the value system that controls the funds flow.

4 Payment has changed the financial landscape The banking industry needs to raise awareness of payments as a basic business The payment transaction is the entry point. Internet finance companies gradually integrate payment accounts with wealth management accounts, launch fund trading, bill exchange, insurance sales, bill payment services and other businesses, and enter the financial sector with transaction integration, payment agency, and asset management. Comprehensive financial business service providers have exerted increasing pressure on the diversion of basic deposits and wealth management services of commercial banks. Jiang Jianqing The former Chairman of ICBC Payment and settlement is the bank's most reliant ability, and is also the earliest and most basic function for a commercial bank. However, the current online payment and third-party payment have developed rapidly and are very powerful. If the payment and settlement functions of commercial banks are replaced by third parties, this will be a catastrophic crisis that will have a major impact on the definition of monetary policy and money supply. Niu Ximing The Former chairman of CCB Picasso's fish - financial technology subverts the traditional commercial banks Under the impact of financial technology, when the endogenous traditional banks products become an exogenous industrial chain of society, the traditional- bank fish are actually being eroded and divided by vertically subdivided financial institutions. If the traditional commercial banks do not fight back and there are no positive moves, I think it will not take a long time for FinTech to catch the traditional- bank fish gradually. The fish in a traditional commercial bank are likely to be the status it should be. Zhu Min Dean of National Finance Institute, Tsinghua University Former Vice President of International Monetary Fund The former Deputy Governor of PBOC

5 Introduce external data according to business: enrich customer labeling system by introducing external data, such as supplementing customer consumption characteristics, hobbies, social information The coverage of external data should open to internal data, the matching rate of internal information, the degree of relevance of information, and the freshness of data are the latitudes for introducing external information. Data compliance and legality. Sensitive information should pay attention to privacy protection when it is introduced or matched. Data exchange and data matching and verification are not performed. Combining actual business requirements, select external data service providers to introduce external data Carrier data Through the operator data, you can obtain a variety of information including customer location information, channel preferences, contacts preferences, etc. UnionPay and e-commerce data Get customer transaction information and online shopping information, understand customer preferences and purchase preferences Social media data Get customer virtual identity information, social contacts, understand customer social behavior characteristics Public inspection data Obtain judicial information from customers, especially loan customers, to understand their judicial credit.

6 Data service capability Data mining drill Data visualization Data control ability Data quality control ability Data quality indicator management Data quality check analysis Data problem management Basic data standards Indicator data standard Data application capability Data sharing Data mart Data analysis Data resource integration capability Metamodel management Metadata maintenance Metadata collection Metadata analysis Metadata version management Metadata quality management Data resource acquisition capability Business data source External data source ETL data source DW data source Log data Management data source

7 The crisis faced by small and medium banks Account crisis Customer relationship crisis "WeChat Payment/Alipay" becomes the capital center "More than one-third of users cut down on using banks." Among them, the highest percentage fell after 80 and 90. "More than one-third of users have a relative reduction in the proportion of bank funds in all of their liquidity (25%), and they are basically no longer using banks (12%). This phenomenon is more evident in young users." "Banking User Experience Research Report" Bank Collateral x x Retaile r x Dat a Data Data crisis Data quality At present, there are many problems in the data quality of banking financial institutions, which are mainly due to lack of accuracy and completeness data, and lack of timeliness and adaptability. Missin g data Consumer behavior data Social behavior data

8 Losing an account equals losing customers The changed account system means business philosophy, product design concept and operation methods change Business philosophy From pure payment and settlement operations to account risk management Product design concept From single product (I) product design to multi-account product design Operation mode From the operation of a single account to the operation of a comprehensive account

9 How to deal with small and mediumsized banks? Bind retailers and rebuild customer relationships Paying for high frequency accounts to get customers and data

10 Household savings rate continues to fall, new path for small and medium bank liabilities The household savings growth rate dropped from 16% before 2010 to the historical lowest value of 7.7% 2017 China's Economic Transcripts Residents' disposable income flock to the consumer market Help pay + spend Acquire funds retention Personal account Bank New retail and other consumption patterns stimulate consumer motivation Consumer market

11 New retail is human-centered, bringing changes in consumption structure and consumption philosophy Payment is a link between banks and retail companies. From providing cashiers tooler to assisting merchants in transforming informatization and subsequent online and offline marketing, the role of banks has undergone major changes. Banks are not only partners in the deposit and loan business for retail enterprises, but also are closely related to the upgrading, transformation and operation for enterprises. Commodi ty service Consumption structure From being dominated by survival-type consumption to being led by development-oriented consumption, from being dominated by material consumption to becoming service-oriented. Consumer demand Upgrading from consumption that meets basic physiological needs to consumption that meets more emotional demands such as personalization and quality Consumer Consumer channels From offline consumption to online consumption, and then to online and offline omnichannel consumption Consumer sites Consumer philosophy From frugality to show off or blindly and from consumption to personalization, green health, experience-oriented consumption

12 New retail consumption is everywhere, financial services should also be ubiquitous

13 The new retail requirements for payment: more convenient links to customer and data collection Consumer experience Data driven Scene connection Everywher e Non-incentive payment Customer portrait Risk control Reverse production Predict pricing

14 Financial empowerment in new retail business With payment entry-in to help retailers gain financial capabilities: supply chain finance, consumer finance 7.2 亿收购支付牌照购买 6 张金融牌照银行股东意在支付拟收购金融牌照 Business purpose In order to achieve the goal of financial closed-loop, we will form a self-recycling system for ecological funds. Enterprise appeal Pay for quick access to customer behavior data Business planning Using data to Realize reverse production, optimizing production, constructing supply chain finance, reducing capital costs, and exploiting new growth points for consumer finance Bank output Transmit financial capabilities directly into the organizational structure in retail enterprises, output professional capabilities such as payment, account management and risk control

15 Return to the consumer scene,it will help small and medium banks face the crisis Account crisis Customer relationship crisis Data crisis Contest for account Rebuild relations Retrieve data Make full use of the second-class and third-account policy advantages, build a variety of consumer scenarios and applications with offline retailers, and activate consumer accounts. With the help of technology introduction, business consulting services, and supply chain services, we help offline small and mediumsized retailers to complete digital transformation, promote industrial upgrading, and build new bank-industry relations. In-depth consumer terminals, with counter extension, service front-end, improve and build new bank-consumer relationships. Data is the most precious asset in the digital age. As a connector for consumption and accounts, the payment product is the core hub for obtaining user behavior data and merchant business data. Payment products and payment services should be taken as a strategic product for the whole bank

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