Author | Xiao Hui
Source | A mutual golden goose
When the official account of Minsheng Bank's direct bank decided to stop serving, the banking industry began to recall and examine the "direct bank".
With the rapid development of the mobile Internet and the digital transformation of retail, the digital transformation of retail has become the main theme.
In the past two years, more and more banks have started the "slimming" mode, directly removing the direct banking app from the shelves, or integrating it with other apps.
The direct banking of traditional banks is in decline, and the new corporate direct bank does not seem to have a good time.
01
Poor performance
Recently, the 2023 performance of the direct bank of the Postal Savings Bank, Postal Huiwanjia Bank, was disclosed: it has been established for two years, the asset scale is less than 15 billion, and the loss has intensified.
In contrast, another corporate direct bank, Baixin Bank, was much better than that of Postal Huiwanjia Bank when it was established for two years.
Bacera Bank was founded in September 2017 and in its second year of operation, it has already started to turn a profit in 2019.
As of the end of 2019, Baixin Bank, which has been in operation for less than two years, has total assets of 58.865 billion yuan, an increase of 63.86% from the end of the previous year, total liabilities of 55.62 billion yuan, an increase of 70.09% from the end of the previous year, and net assets of 3.245 billion yuan. In 2019, Baixin Bank achieved a net operating income of 2.373 billion yuan and a net profit of 20 million yuan, achieving profitability for the first time.
Looking at Post Hui Wanjia Bank, although the number of registered users will soar by 463% year-on-year in 2023, and the AUM (assets under management) will soar by 346% year-on-year, the loss is increasing.
As of the end of 2023, the cumulative number of registered users of Postal Huiwanjia Bank is 20.5582 million, with an AUM of 28.983 billion yuan. At the end of 2022, these two figures were 3.65 million and 6.5 billion yuan, respectively.
In 2023, the operating income of Postal Huiwanjia Bank will be 355 million yuan, a year-on-year increase of 251%, and the net profit will be -263 million yuan, and the loss will increase by 62% year-on-year.
As of the end of 2023, the total assets of Youhui Wanjia Bank were 14.986 billion yuan, a year-on-year increase of 113%, and the net assets were 4.574 billion yuan.
02
The product experience is cumbersome
Backed by the Postal Savings Bank of China, as the first independent legal person direct bank under a state-owned bank, the Postal Savings Bank of China attracted much attention at the beginning of its establishment.
At the opening of the bank in 2021, Liu Aili, chairman of China Post Group Co., Ltd., said that with the mission of "serving the 'three rurals', helping small and micro enterprises, and benefiting the public", the bank focuses on building four major business platforms: scenario finance, inclusive credit, public wealth and digital villages.
At that time, the Postal Huiwanjia Bank also said that it would establish a coordinated development model with the Postal Group and the Postal Savings Bank to better meet the diversified and multi-level financial needs of the county.
After two years, what businesses have been launched by Youhui Wanjia? The 2022 financial report of Youhui Wanjia Bank disclosed that it has:
(1) Scenario financial business, including: small and micro enterprise service platform, capital witness business
(2) Inclusive credit business, including: inclusive small and micro finance, industrial chain finance
(3) Public wealth business, including: wealth management supermarket, coin purse, mobile banking of Huihui Wanjia Bank
(4) Digital village business. It mainly connects various agricultural and rural production and life scenarios, and provides digital comprehensive financial services for agriculture, rural areas and rural areas.
In terms of loan business, the 2023 financial report of the Postal Savings Bank disclosed that the Postal Savings Bank provides convenient and inclusive credit products for new citizen groups such as farmers, county-level flexible workers, and self-employed people.
By the end of 2023, it has served a total of 173,000 small and micro customers, accounting for 49.3% of the total number of customers in administrative areas below the county level.
According to a mutual golden goose, the industrial chain financial product "Procurement Loan" of Postal Huiwanjia Bank has cooperated with core enterprises such as Tianneng Battery and Digital China to provide loans for these core downstream dealers.
Basic conditions for "purchase loan" products
Applicants must be between the ages of 22 and 60 (inclusive);
The applicant has a good credit profile;
Distributors and brands have a stable purchasing partnership.
In addition, Postal Hui Wanjia Bank also has a "second loan" and "speed loan" products.
The former is aimed at high-quality individual users, while the latter is aimed at small and micro business owners, individual industrial and commercial households, acquiring merchants, rural households, flexible employment at the county level and in villages and towns, and self-employed people.
The interesting thing about the second loan is that it is mainly for customers who have social security or credit cards. When applying for a loan, in addition to uploading ID card, filling in employment information and residence information, customers also need to supplement social security information or credit card information.
In the credit card authentication process, the information is so detailed that you need to choose whether it is a regular card, a gold card or a platinum card. There is a high probability that if it is a gold card or platinum card customer, the limit will be higher, right? Similar to the "micro loan second loan" product in the market in the early years, the corresponding credit line is given with reference to the customer's micro loan line.
If you look closely at the process of the second loan product, you will find that it is a little different from the design of most personal loan products on the market. For the sake of user experience, most personal loan products on the market generally only need to upload ID card and face recognition to make the amount in the application process, and the customer will fill in the employment information and residence information in the withdrawal process.
However, in the application process, users are required to fill in more than 10 elements (plus supplementary information) in the application process.
"Second Loan" product outline
Loan amount: 200,000, recyclable
Loan interest rate: up to 18% annualized interest rate
Payment period: 3/6/12 installments
Loan method: Loan to the customer bound to the first-class card, or second-class account
Repayment method: equal principal and interest, 7*24 hours at any time
Early repayment: Early repayment is supported without liquidated damages
Access requirements (the following customers can be admitted if they meet one of them)
Basic requirements: Age between 18 and 55 years old
(1) Group of social insurance customers:
Be between the ages of 22 and 55;
The borrower has a stable job and pays the basic pension insurance for employees, and the work unit filled in is the current employer;
Pay social security for 12 consecutive months or more, and the social security payment base is more than 4,000 yuan.
(2) Credit card customers:
Be between the ages of 22 and 55;
It has six major banks, Bank of Shanghai, Bank of Beijing, Bank of Ningbo and Bank of Jiangsu.
The credit card limit is more than 10,000 yuan, and the opening time is more than 6 months
The basic outline of the "Quick Loan" product
Credit line: up to 200,000
Credit term: 24 installments
Credit interest: from 7.2% per annum.
Age requirement: 22-55 years old.
Household registration requirements: Mainland household registration.
Repayment method: equal principal and interest, revolving line, daily interest, no penalty for early repayment. Application process: Pure online application.
Any one of the following conditions is met:
(1): Business license for 12 months (limited company or self-employed can be)
(2): Merchants with payment codes
(3): Rural farming households
(4): Flexible employment and self-employed persons in counties and villages and towns
(5): Three-no people with clean credit
(6): Credit information reflects large-value credit cards
(Note: Banks are constantly adjusting their product strategies, so the above outline is for reference only)
At present, there are channels for promoting both second loan and speed loan.
Postal Huiwanjia Bank also relies on the Postal Savings Bank for diversion. If you have a friend with a postal savings bank account, you may have seen the entrance of the postal savings bank on the postal savings bank APP.
But what is a little confusing is that since there are already first-class or second-class accounts of the Postal Savings Bank, if you want to experience the products of the Postal Savings Bank on the APP, you will have to open a second-class account of the Postal Savings Bank, and the wealth management products on the Postal Savings Bank are also similar to the products sold by the Postal Savings Bank. The advantages of other loan or deposit products are also not obvious.
So, as a user, why do you have to spend time uploading information and opening an account with Wanjia Bank?
Two years after its establishment, it seems that the bank has not yet stepped out of its mature business model. There was also information of layoffs at the end of last year.
In January this year, the State Administration of Financial Supervision and Administration approved Lin Jiannan as the deputy general manager and chief risk officer of Chongqing Ant Consumer Finance. Lin Jiannan was previously the chief risk officer of Postal Huiwanjia Bank.
At present, the State Administration of Financial Supervision and Administration has not officially announced the new chief risk officer of Huiwanjia Bank. In other words, the chief risk officer of the bank has left, and the position is still vacant.
Postal Savings Bank was established on January 7, 2022 with a registered capital of 5 billion yuan, and Postal Savings Bank holds 100% of the shares.
In an era when traditional bank direct banks are gradually disappearing, what will be the future of corporate direct banks? And how to compete with the parent bank and even other private banks in the market is indeed a difficult problem facing the bank.