The forefront of entrepreneurship Beijing Station reporter Chen Yining Editor-in-Charge: Sun Peng This article is the author's original, please indicate the source when reprinting
Saying
2016 is known as the year of supervision of the mutual fund industry, many P2P platforms have fallen, and more have explored consumer finance, inclusive finance and other fields, and have achieved good results. But it is in the industry that the P2P platform dispute has entered the end, and it is difficult for latecomers to emerge quickly, the malt staging that was launched in June this year is like a dark horse, covering 74 cities across the country within 5 months, covering nearly 700 merchants, and the single-day loan amount exceeded 10 million in November. What is the malt staging basis? The front-line reporter of entrepreneurship interviewed the helmsman behind the scenes, Malt Staging CEO Chen Zhan.
Chen Zhan, CEO of Malt Staging
Medical beauty is an important scene of women's consumer finance
Chen Zhan was seen on the second day after the closing of the Third Internet Conference, and because he had just rushed back to Beijing from Wuzhen late the night before, Chen Zhan's face was still full of exhaustion, but when he talked about the "Internet Light" forum that had just passed, his spirit immediately lifted.
"This is the first time I have participated in such a high-level conference", Chen Zhan handed the reporter a bottle of coffee and said: "This year's Internet conference can clearly feel the influence of Internet finance, such as inviting a number of financial technology enterprise representatives and traditional banking leaders to conduct in-depth discussions around 'how to promote the better development of Internet + inclusive finance through mechanisms and technological innovation'."
Chen Zhan attended the conference as a representative of Wheat Financial Services. In the two years since joining Maizi Financial, Chen Zhan has served as the CEO of Grandpa Fortuna and Malt Staging, and has achieved remarkable results. At this Internet conference, Chen Zhan highlighted how malt staging uses the collection and analysis of big data, the strict control of risk control models, and the obvious advantages in the application process, approval amount and loan interest rate.
In fact, malt staging is a dark horse in the field of domestic consumer finance. Today's consumer finance is no longer an unfamiliar word. After 2015, the internet financial platforms in the forefront of development have laid out consumer finance, some starting from the campus scene, some doing auto finance, and some involved in housing loans. Malt staging was only officially launched in June this year. How to quickly open up the situation and even gain a foothold in the market? This is the biggest headache for Chen Zhan.
"I'm not afraid of getting tired and I'm not afraid of suffering, but before the malt staging goes online, it's really my stressful day." Chen Zhan admitted to reporters that because the entire team of malt staging was built by himself from scratch, product design, promotion, risk control must be grasped, coupled with the success of Grandpa Fortuna's products before, Chen Zhan felt that he had borne too much burden and expectations.
Malt staging has not failed to live up to The Exhibition: since its launch for 5 months, malt staging has rapidly covered 74 cities across the country, covering nearly 700 merchants, and on November 8, the single-day loan amount exceeded 10 million. Chen Zhan breathed a sigh of relief, "The judgment of the scene is correct. ”
Chen Zhan said that the scene is the consumption scene, he believes that the scene determines the traffic, in today's mobile Internet popularization, the scene has become an increasingly important part of the field of consumer finance, "to do consumer finance a lot of times to have a deep participation in the scene and control." ”
"Everyone has scene needs, but we can't cover all the scenes", Chen Zhan explained to reporters, when designing malt staging products, he insisted on starting from female users, because women have relatively good credit qualifications and strong willingness to repay, which is a consideration at the risk control level, the second point is that women's consumption ability is also stronger, "I am willing to choose the part of the scene where women's consumption is upgraded." Consumption upgrading means that the basic consumption ability is there, to be better, I think I can do better people, there is no problem with repayment ability, and the willingness to repay is also better. ”
What is the just need in the field of women's consumption upgrading? Chen Zhan thought of medical beauty.
In order to experience the whole process of medical beauty, Chen Zhan even secretly went to the beauty hospital to do micro-needles. "The next day up on both sides of the face are blood scabs, four or five days to be good," Chen Zhan told reporters with a smile, the tone made people feel that he was doing only a very ordinary small thing, "to really understand and experience the entire product process, including the hospital, including consumer psychology, I have to try it myself." ”
For the current development of malt staging, Chen Zhan expressed satisfaction, he revealed that by the end of the year, the target of malt staging is 1 billion.
The pain point of consumer finance is in merchants The pain point of merchants is in customer acquisition
Chen Zhan is a student born in 1992, still young, but already a serial entrepreneur.
"I started my business to prove myself." Chen Zhan told reporters that in his freshman year, he found that the aura of "learning bully" in direct high school had faded, the exam could not be in the top few, and the girls were not chased, thinking about going only to start a business, so Chen Zhan decided to start a business, the direction was e-commerce.
"In order to understand e-commerce, I did a very stupid thing at that time," Chen Zhan recalled, at the end of 2010, he studied the entries on Baidu about "e-commerce" one by one, and has been reading more than 30 pages, and basically has his own ideas about e-commerce.
Since then, Chen Zhan has formed an indissoluble relationship with the Internet, and he chose Campus 020 for the first time and created the "Campus Pusher Network" project, which mainly solves the logistics problem of the "last kilometer" of college students' campus online shopping. Later, I tried to open a restaurant, and I didn't make any money. The experience of repeated entrepreneurship has even won Chen Zhan the title of "Huazheng Liu Qiangdong".
After graduating from college, Chen Zhan still did not give up the idea of starting a business, but due to lack of funds and resources, he eventually "mistakenly hit and bumped" into the Internet finance industry and became an employee of "fun staging".
"What attracted me to interesting staging was his CEO management trainee program, my idea was very simple, I wanted to be closer to the CEO, but I still wanted to start a business."
Looking back now, Chen Zhan is grateful for his time in fun staging, because it was there that he learned execution. "Whether it is Grandpa Fortuna or Malt Staging, it can develop so quickly, which has a lot to do with the team's execution." Chen Zhan believes that this is exactly what he has learned from his past experience.
In Chen Zhan's own view, his current achievements come from his past accumulation, hard work and active learning personality, but the reporter believes that in addition to hard work, Chen Zhan has his own unique business insight and accurate product thinking.
Malt staging is hailed as a dark horse in the industry, not only because of the rapidly growing data, but also because of the "merchant credit rating system" recently launched at the Internet Conference.
In order to maintain excellent merchant cooperation, Malt has innovatively launched a merchant credit rating system in stages. This system is mainly through a large number of accurate data on the malt staging platform, through the refined operation of merchants, with a more rigorous, transparent and fair evaluation system for each merchant to conduct a comprehensive evaluation of different dimensions. At the same time, according to the credit degree of merchants, the corresponding grade is divided. Mainly by managing the merchant side in a more orderly manner to optimize the user experience.
For example, merchants with higher score ratings can get higher benefits:
For merchants to be credit-rated, the higher the credit, the more benefits that merchants can get: higher limits, lower interest rates, faster and more efficient audits, and higher pass rates.
"Doing this merchant credit rating is also out of risk control considerations", Chen Zhan explained to reporters, in the field of consumer finance, in fact, the risk of merchants is greater than that of the C-end, and through the construction of the credit rating system, it can effectively gather high-quality merchants and eliminate bad merchants.
Some insiders believe that malt staging is the first in the industry for the construction of the merchant credit rating system, which will inject more fresh blood into the merchants and open a virtuous cycle of merchants and platforms working together and continuously optimizing services.
What is the future of consumer finance?
After several years of development, it can be said that the field of Internet finance has entered a new stage of development, not only limited to payment and wealth management products, but also deep into the field of consumption. According to a report released by iResearch, the transaction scale of China's Internet consumer financial market has grown by more than 200%, and the overall market has exceeded 100 billion yuan in 2015 and can reach the level of 3.398 trillion yuan in 2019.
The rapid growth of malt staging also confirms the great potential of this market.
Chen Zhan believes that consumer finance is essentially a tool for credit payment, and the fungibility of the tool is very strong, so it must be more and more efficient. Specifically, it is whether the interest rate is lower, whether the speed of payment is faster, and whether the approval can be faster in the stage of risk control.
It is understood that at present, the application approval process for malt staging is all online, and it takes about 15 minutes from the submission of the application to the final approval of the entire fee. The loan can be done T+0, basically on the same day can arrive, very convenient and fast.
But malting can't just be a tool. After entering the market with medical beauty as the entry point, malt staging next step will enter the fields of tourism, wedding confinement, education and training, and customers in these fields actually have a certain degree of overlap. It is very likely that after a period of time, malt staging can become a user platform for consumption upgrades, which is the construction of the ecology.
I have to say that Chen Zhan's strategy is actually very accurate, even coinciding with Baidu's strategy of having money to spend. In 2016, Baidu Finance launched the consumer finance business - Baidu has money to spend, focusing on promoting the staging business, taking education staging as a breakthrough, and gradually promoting it to the fields of home improvement, rental housing, medical beauty and other fields. Studying the layout direction of Baidu's money to spend, we can see Baidu Finance's confidence in the consumption upgrading market.
"Malt staging has now completed the team construction and sales system construction, and now the focus is on deepening the medical aesthetic market at the same time, more scene consumption ecology through the way of the market to operate", Chen Zhan believes that tourism and education training is the next outlet in the field of consumer finance.
The consumption scenario that Malt wants to build in stages is actually the "just need" in the field of consumption upgrading. Chen Zhan believes that for today's young people, the best investment is to invest in themselves, and the way to invest in themselves is by no means to buy some of the latest digital products or equip some luxury goods. The real need is to improve yourself, such as wanting to improve your appearance, wanting to travel to increase your insights, and wanting to participate in education and training to expand your professional skills. These are all necessary investments, and those who are willing to invest in these aspects are relatively high-quality, willing and capable of repayment.
"Our slogan is 'for a better self', the meaning is to provide young people with more convenient installment payment services at the same time, to help them establish the correct concept of consumption and financial management,"
The vision of malt staging is to rely on the collection, analysis and application of big data by Maizi Financial Services, as well as mobile financial risk control technology, to reduce the threshold and cost of consumption upgrading of the young generation, and to become the leader in the field of consumer finance staging for pan-young people in China.
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