As we all know, MYbank and Alipay "originally have the same root", and the major shareholders are Ant Group. Since its inception, MYbank has "deeply bound" Alipay, using Alipay's payment data and drainage to achieve customer conversion and business derivation. Nowadays, it is "cut" with Alipay, suspending withdrawals and transfers, or affecting the development of some businesses of online business to a certain extent.
On April 20, MYbank issued an announcement that from 21 April 2022, the bank will gradually suspend Alipay withdrawals or transfer to MYbank Class II accounts, while MYbank Class II accounts will only support the transfer of bank accounts bound by me.
If the merchant needs to withdraw the Balance of Alipay and transfer it to the MYbank, he can withdraw cash to his other bank cards and then transfer it to the MYbank from the bank card. At present, the money collection code merchant withdraws the Alipay balance to the bank card, and there is no need to pay a handling fee.
The adjustment of business means that the original way of "borrowing" MYbank to achieve free cash withdrawal no longer exists.
Before this business adjustment, the user will transfer the money in the balance of Alipay to the online business bank is free of charge, this part of the fee is mainly paid by the online business bank, the funds are transferred to the online business bank, and then withdrawn to the bank card under their own name through the online business bank, so that compared with the direct withdrawal from Alipay to the bank card, save a handling fee.
In fact, since its inception, many of the businesses of MYbank have been "deeply bound" to the Alipay platform, relying on Alipay's payment data and huge customer traffic, and the early growth of MYbank is obvious. Behind this initiative and Alipay "cutting", or have to do it.
"Cut" with Alipay, suspend withdrawals and transfers
As an online business bank in the ecological closed loop of Ant Group, its every move has attracted market attention.
All along, supporting Alipay large amount of free cash withdrawal is a major advantage of online business bank accounts, which also said in the official introduction that account advantages include convenient transfers, such as transfer to Alipay, bank accounts, free interbank fees, a single maximum of 1 million yuan.
Today, the "free bridge" service previously provided by MYbank no longer exists, which may be related to the continuous strengthening of Class II account supervision in recent years.
The time goes back to 2016, when the central bank issued the "Notice of the Chinese Bank on the Implementation of the Classification Management System for Individual Bank Accounts", which said that bank accounts are divided into three categories, and each type of account opening method and function and transfer amount have corresponding requirements. Among them, to open a Class I account, the bank staff must verify the identity information on the spot; if the bank staff does not verify the identity information on the spot, the depositor can only open a Class II account or a Class III account.
Two years later, in 2018, the central bank issued the Notice on Matters Related to Improving the Classification and Management of Individual Bank Accounts, which clearly stipulates that "the II. and III. accounts of banks cannot directly deposit funds from payment accounts".
The above policies will have a certain impact on MYbank. Internet banks such as online business banks, because offline outlets are only allowed to set up 1, therefore, the customer's account is basically a class II account, and the problem of deposit and withdrawal between such accounts and payment accounts has a long history.
It is worth noting that in the past one or two years, the rectification around the Ant Group has been carried out in an orderly manner. In addition to supervision, whether the suspension of the transfer of balance treasure to the online business bank is related to the "deep binding" of Ant Group's initiative to adjust various businesses in the ecosystem is temporarily unknown.
Since Ant Group suspended its listing in November 2020, the regulator has conducted three rounds of interviews with it. The last time was on April 12, 2021, and the detailed rules were to correct the unfair competition behavior of the payment business, give consumers more choice in payment methods, disconnect alipay from other financial products such as "Huabei" and "borrowing", correct violations such as nesting credit business in the payment link; strictly implement prudential supervision requirements, improve corporate governance, seriously rectify financial activities such as illegal credit, insurance, and wealth management, and control high leverage and risk contagion.
Subsequently, in November 2021, Ant Group announced that borrowing has started brand isolation, and the services provided by Ant Consumer Finance Company will continue to display the "borrowing" brand, while the credit services independently provided by banks and other financial institutions will be displayed on the "credit loan" page, which will significantly identify the financial institution information and distinguish it from the "borrowing" brand.
Obviously, the current Ant Group is strictly implementing supervision and adjusting various businesses within the ecosystem to meet regulatory requirements.
Ant Group's ecological closed loop,
"Deep binding" between online business banking and Alipay
The predecessor of MYbank was "born out of" Ali Small Loan.
The predecessor of MYbank is Ali Small Loan, and its products include Ali Credit Loan, Online Business Loan, Taobao Credit Loan, Order Loan, etc. In a new share and asset purchase agreement reached by Alibaba Group and Ant Financial in August 2014, Alibaba Group sold assets of its SME loan business to Ant Financial.
In September 2014, MYbank was formally established, and after its establishment, MYbank used the resources of the major shareholder Ant Group to bind to Alipay "deeply".
Different from traditional banks, when it was established, MYbank mainly provided financial services for Amoy merchants (new retail), offline small and micro merchants (code merchants), and rural users.
In 2017, MYbank increased its investment in new retail and code business, and new trends appeared again. Based on the Ant Financial ecosystem, it launched the "more collection and multiple loans" product, which provides small financial loans for offline small and micro merchants on the basis of the flow data of Alipay collection code, which means that the merchant loan amount is directly proportional to the Alipay collection code flow, and the more Alipay offline collection code, the larger the loan amount.
Obviously, the overcharging and multi-loan product mainly relies on Alipay's collection code to obtain rich customer resources, and as of the end of 2017, the product has served more than 1 million small and micro customers.
Coincidentally, YuLibao also relies on Alipay, which is a cash management product for individuals, small and micro enterprises and small and micro operators. As of the end of 2017, "Yulibao" has served 6.75 million customers.
As MYbank said in its 2017 annual report, using the information accumulated by customers on Alibaba's B2B, Taobao, Tmall, Ant Financial Alipay and other platforms, small and micro customers like these who usually cannot obtain loans through traditional financial channels issue small loans.
As we all know, Alipay as a payment tool, there are merchants and individuals payment data, through the payment data can get a clear portrait of the lender, to a certain extent to solve the quality of small and medium-sized enterprises customer quality problems, is conducive to online business banks to measure the qualifications of loan customers, to achieve risk control.
In addition, the hundreds of millions of customer resources behind Alipay can also provide conversions for it, and now on the Alipay platform, you can still see the figure of online business banking.
According to its annual report, since its opening, as of the end of 2017, MYbank has provided services to 5.71 million small and micro enterprises and self-employed persons, with an average loan balance of 28,000 yuan per household. According to the data on the official website, as of now, the number of small and micro enterprises and small and micro operators served by MYbank has exceeded 40 million.
Shen Guojun, Shi Yuzhu, Guo Guangchang, etc
Capital tycoons bless online business banks
As one of the Internet banks, the online business bank can be said to be born with a "golden key" and backed by many luxurious shareholders.
The time goes back to September 2014, when the CBRC announced that the first batch of five pilot private banks had all been approved for establishment, and MYbank was among them.
In June 2015, MYbank was officially opened, initiated by Ant Group, and also includes 6 shareholders of Wanxiang Sannong Group Co., Ltd., Ningbo Jinrun Asset Management Co., Ltd., Shanghai Fosun Industrial Technology Development Co., Ltd., Hangzhou Dr. He's E-commerce Co., Ltd. and Jinzi Food Co., Ltd. According to the enterprise investigation, the above six shareholders held 30%, 26.78%, 19.48%, 15.22%, 4.87% and 3.65% of the shares respectively.
Behind these six shareholders are Ant Group, Wanxiang Group Lu Weiding, China Yintai Investment Shen Guojun, Shanghai Fosun Guo Guangchang, Jinzi Ham Shi Yanjun, Hangzhou He Dr. E-commerce Shi Yuzhu, which shows the strength of its shareholder lineup.
Wanxiang Group, Yintai Investment, and Jinzi Ham are all local enterprises in Zhejiang, and they are the same as Zhejiang businessmen with Ant, while Guo Guangchang, Shi Yuzhu and Ma Yun are friends who have known each other for many years. Obviously, the shareholders of the online business bank have a great relationship with Ma Yun.
With the blessing of a capital tycoon, the performance of MYbank is in the middle and upper reaches of private banks, second only to WeBank.
According to the financial report of MYbank, from 2016 to 2020, the bank's net profit was 316 million yuan, 404 million yuan, 658 million yuan, 1.256 billion yuan and 1.286 billion yuan, respectively. According to the financial report of WeBank, from 2016 to 2020, the bank's net profit was 401 million yuan, 1.448 billion yuan, 2.474 billion yuan, 3.95 billion yuan and 4.957 billion yuan, respectively.
The data shows that the net profit of MYbank from 2017 to 2019 increased by 27.85%, 62.88% and 90.79% respectively. Compared with the previous three years, the bank's net profit growth rate in 2020 fell sharply, only slightly increasing by 2.39% year-on-year. The growth rate of WeBank from 2017 to 2020 was 261.1%, 70.86%, 59.66% and 25.49% respectively.
For the reasons for the slowdown in the growth rate of net profit of MYbank in 2020, it can be seen from its annual report that its asset impairment loss in 2020 was 3.597 billion yuan, an increase of 117.47% year-on-year, and the asset impairment loss of more than 1 times increased dragged down the net profit of MYbank.
In addition, the rapid expansion of scale and the impact of the epidemic have caused the non-performing rate of online business banks to rise from 1.3% at the end of 2019 to 1.52% at the end of 2020. Such a non-performing rate has exceeded most urban commercial banks and rural commercial banks.
Under the rapid expansion of total asset scale, coupled with the lack of liability side advantages of online business banks, it is bound to acquire customers through high pricing on the asset side, and customers obtained by high pricing are obviously selected by most offline physical banks, which is a challenge for the risk control of online business banks.
This article originated from the Global Tiger Finance app