The digital economy has become a new driving force for the mainland's economic growth, and the securities industry should also implement it from a business perspective as soon as possible. This article explains from two aspects, let's take a look.
Since the comprehensive proposal to accelerate the development of the digital economy, promote the deep integration of the digital economy and the real economy, and build a digital industrial cluster with international competitiveness, the digital economy has become a new driving force for the mainland's economic growth.
The securities industry has also seized the opportunities of the times, quickly responded to the requirements, actively adjusted its strategy, positioned digital transformation as a key engine for the high-quality development of the industry, and used it as an important measure and starting point for finance to better serve the real economy.
From a business perspective, the author is very interested in how the digital process of securities can be adapted to the implementation of business strategy, and how to accurately deliver securities in combination with financial planning.
First, the integration of the strategic layer of the industry
Based on the author's experience and review of the development of the past ten years, it is believed that in terms of exploring various financial products and services empowered by digital technology, securities companies have undergone a transformation from the earlier empowerment brokerage business to wealth management, and further penetrated into the whole business line such as large investment banks and large asset management, and are currently in a trend of expanding and accelerating the transformation and upgrading of various businesses. They actively promote the construction of digital infrastructure, optimize the layout of data center construction, build a solid digital foundation, improve the data governance system, release the value of data resources, strengthen the construction of data and network security, actively participate in technological innovation, and explore digital value mining.
Exploration 1: Digital empowerment is based on the full life cycle wealth services of customers
GT Securities focuses on the customer journey and enhances digital wealth services across the entire value chain
At present, the securities company has a comprehensive license and complex business, and when serving institutions and retail customers, it will more or less show the phenomenon of insufficient awareness of integrated marketing and unilateral operations of various business lines, resulting in an incomplete understanding of customer needs, insufficient excavation of customer value, and the loss of integrated and diversified in-depth business opportunities.
The securities build a digital retail "star" service, build an e-network unified management, enterprise-level data middle platform and other comprehensive service platforms, from the digital branch, digital intelligence team, data base, digital intelligence platform and other system construction, around the customer life cycle to carry out digital insights, decompose the customer business journey for digital service follow-up. In terms of customer digital services, we will improve the effective reach and coverage of key customer groups, strengthen the full exposure and content interpretation of key information, improve marketing intervention and high-quality services for key journeys, expand the large number of long-tail customers, focus on high-value contributing customer groups, and provide a package of digital management and services across the whole value chain, so as to achieve a customer-centric full-life cycle wealth service system.
Exploration 2: Digitalization helps investment banks transform and upgrade their business efficiency
ZJ Securities builds an integrated platform for investment banking with an intelligent application and data service platform
With the advancement of the comprehensive registration system, the construction of multi-level capital markets has become more and more mature, and the investment banking business of securities companies has also ushered in a big explosion. While seizing new opportunities for development, the securities company is also facing new challenges, especially in terms of service capabilities for enterprise-level customers, and urgently needs to carry out digital upgrades, so as to achieve the goal of better serving the quality and efficiency of the real economy.
Based on data, process as the starting point, and application as the carrier, the company has opened up the whole business process of "contracting, underwriting, underwriting, and supervision", breaking the system chimney, connecting data islands, and realizing the straight-through collaborative handling of various businesses. Actively explore capabilities such as big data, artificial intelligence, RPA quality inspection, electronic working papers, and automatic monitoring of negative public opinion, and set up a unified interface for enterprise customers, linkage and collaboration integrated platform circulation, etc., to control the quality of the project from the perspective of the whole process. The integrated business platform it has built provides complete and comprehensive standardized data services on the external customer side, and presents timely and accurate personalized data support to the internal employee side, which effectively improves the quality of investment banking projects and improves the efficiency of investment banking business.
Exploration 3: Digitalization empowers the transformation and upgrading of asset management business models
ZX Securities relies on the big data platform to promote the digital transformation of financial technology-enabled asset management business
In terms of the implementation of the asset management strategy, the securities emphasizes digital empowerment, actively exerts its big data and financial technology capabilities, expands the customer circle, insight into customer portraits, excavates customer value, enhances customer contributions, improves investment research and analysis capabilities internally, expands the radius of business development services, builds professional IP for investment advisors, cultivates high-quality content ecology, and realizes a comprehensive upgrade of the asset management business model by deepening the link with customers and providing comprehensive financial services that accompany customers throughout the journey.
The company starts with the financial management scenario, uses the fund wealth management application platform and financial technology capabilities to empower the company's client, investment advisory management and product investment research systems in the financial management scenario, improves the digital service capabilities of the company's asset management business, and optimizes the digital experience of customers in asset allocation and comprehensive financial management.
Second, strategic investment in digital finance
In recent years, securities companies have continued to increase their investment in technology, regarding digital transformation as a key strategy, and adding it to their annual financial budgets and IT deployments. According to statistics, more than 70% of securities companies in the current market have formulated their own digital transformation strategies, and built a digital team that meets the needs of their own development practices, and then built a new organizational structure that is completely different from the past.
In 2021, the total number of IT personnel in securities companies was 30,952, a year-on-year increase of 19.7%. The total amount of information technology investment reached 33.820 billion yuan, accounting for 7.7% of the operating income in 2020, a year-on-year increase of 28.7%, and a cumulative investment of 10000+ billion yuan from 2017 to 2021.
Source: Wind data
It can be found that under the trend of the widespread application of new generation digital technologies such as 5G, cloud computing, and artificial intelligence, the business model and competitive landscape of the securities industry have also undergone major changes. Updating business philosophy, reshaping business models, and actively responding to the changes of the times and digital challenges are becoming important topics for industry participants, and they have also become a necessary choice for every market participant. We look forward to interested readers expressing their opinions and brainstorming on this kind of topic with us~
This article was originally published by @数金杂谈 on Everyone is a Product Manager. Reproduction without the permission of the author is prohibited
The title image is from Unsplash and is licensed under CC0
The views in this article only represent the author's own, everyone is a product manager, and the platform only provides information storage space services