Jingdong Technology Group Ma Ke: Fintech should consider bringing direct value to customers in the second half

Financial Circle Network September 3 news The "2021 China International Fintech Forum" co-sponsored by the Beijing Municipal Financial Supervision and Administration Bureau and the Chaoyang District People's Government of Beijing municipality was held in Beijing on September 3, 2021. The theme is "Digital Financial System Construction and Digital Financial Security".

Ma Ke, general manager of the operation support department of the financial cloud division of Jingdong Technology Group, said in the roundtable discussion on digital finance and inclusive finance that the state has paid more and more attention to inclusive finance in recent years. On the one hand, small and micro enterprises play a very key role in promoting economic development and expanding employment, which can activate the real economy. On the other hand, in February this year, the Central Committee's No. 1 document specifically mentioned the establishment of a rural credit system, which can help support the three rural areas to revitalize the countryside. Based on this, what needs to be solved for technology companies is to teach people to fish, do inclusive finance, and adopt new digital technologies. Now the key is to let financial services penetrate into the supply chain of the real industry very accurately, to play its role, so that the risk of inclusive finance becomes more controllable, so that the availability and accessibility of inclusive financial services can truly activate the initiative and enthusiasm of small and medium-sized enterprise owners, including rural farmers.

For the practice of JD.com, Ma Ke introduced that the core of JD.com is a supply chain-based technology and service enterprise, so the supply chain of commodities, the supply chain of finance, the supply chain of services, and the supply chain of technology are the most core components of the business model. Jingdong has a supply chain and technology that can help many farmers start from the upward trend of e-commerce sales, and can combine many regions, such as areas that are more serious after the epidemic, to launch fresh features such as agricultural specialties and aquatic products, which can accelerate the circulation of agricultural supply chains, which starts from the endowment of Jingdong Group. For JD Technology, it is centered on technical services. At the beginning of this year, Jingdong launched a shimmer action activity, joining hands with the core banks of core enterprises that are very critical in the upstream and downstream of enterprises to jointly provide financial services for small and medium-sized merchants in the upstream, middle and lower reaches, which has now covered tens of thousands of small and micro enterprises.

For how to predict the development of inclusive finance, Ma Ke believes that in the new era of the 14th Five-Year Plan, the entire digital finance and digital transformation have the following three trends, the first is the focus of development, from the original transaction end will definitely shift to the supply chain end, from the C-end of the transaction link the wide application of digital technology will shift to the B-end of the supply chain upstream and downstream aspects of the full realization of digitalization.

The second is about the nature of development, which must return to a deeper level of improvement in cost, efficiency and experience. Previously, in the process of digital finance development, we often used digital technology to achieve very large-scale growth in the combination of scenarios, the combination of connections, and marketing customer acquisition, and after the second half of financial technology achieved connection, we should consider bringing direct value to customers, especially in terms of cost, efficiency, and experience.

The third is the means, JD.com is a technology company, so it is necessary to make full use of scientific and technological means, and the financial industry naturally has digital characteristics. The essence of finance is not strict control without risk, but in the identification and pricing of risks. How to accurately identify and price the value in different customers, different scenarios, and different industrial chain supply chains is a very core problem.

This article originated from the Financial Circle Network