January 1, 2016.

The "China Social Enterprise and Social Investment Forum" was held in Beijing, and representatives of outstanding enterprises in the field of benefiting farmers also attended the forum and won the highest award of the forum - "Social Enterprise of the Year".

When Chairman Zhang Yida received the trophy awarded by the organizer to Huinong Loan, the host said with a smile:

"A company with feelings, responsible finance.

I believe that all the guests in the audience are as interested in the business model and development process of Huinong Loan as I am. Please tell us a few words!"

Zhang Yida didn't shirk it, how could he miss such an opportunity to show up, so he replied: "That's okay, then I'll just say a few words." ”

Then Zhang Yida took the microphone and said to the audience:

"Huinong Loan was established in June 14, and it has been a year and a half since its development.

At the beginning of the establishment of the company, I set a goal: to serve 500,000 borrowers and lend 10 billion in 3 years.

Friends who have a certain understanding of the rural credit market should know how difficult it is to achieve this goal.

Lack of credit reporting system, difficulty in risk control, high cost of capital, and large cross-service ...... will restrict the development of rural credit market business.

Therefore, in the second half of 14 years, we have been exploring the business model and dare not start too quickly.

During this period, we have successfully explored a set of business models in the valley counties of Gan province.

That is, to combine local industries and issue entrepreneurial loans to farmers......

With this successful model, we then launched a capital increase of 1 billion yuan and set up 10 small loan companies in various provinces and cities across the country.

In 2015, we disbursed a total of 2.86 billion yuan in agricultural loans, benefiting more than 113,000 households.

On the one hand, the reason why the business volume has increased so much is that we have a successful model, which only needs to be replicated in other regions;

On the other hand, we have embraced the digital financial transformation, used big data, artificial intelligence and other Internet financial tools, combined with the actual needs of rural groups, and independently developed a financial service client for the rural market - Huinong Loan APP.

With the mobile terminal as the carrier, and the support of informatization and big data, Huinong Loan supports identity verification and login through "identity authentication + face recognition".

It allows farmers to make online appointments, progress inquiries, business handling, and online repayment of credit services without leaving home, effectively improving the customer experience.

The face recognition technology in the APP also greatly reduces the problem of identity recognition.

In addition, we have also explored a set of risk control models of "five-household joint insurance".

Through this kind of moral restraint between the villagers, even if one household does not pay back, the other four households will balance each other and let them get through the difficulties, so the risk is minimized.

In addition, Huinong Loan also purchased death insurance for all borrowers to prevent loan losses caused by sudden death and other reasons.

The credit salesmen of Huinong Loan are also selected from the local people who have a certain prestige and connections, which can be regarded as another kind of "localized operation landing"!

These credit clerks do not sit back and wait for business to come to their door every day, but go around the countryside every day to chat with the people in the village and ask if there is a need for credit.

At the same time, they also have to take on the responsibility of manual review, and conduct a comprehensive assessment of the labor quality, skills and willingness of the borrower.

Whether it has the capacity to produce, whether it has certain means of production, such as land, in short, can ensure that the borrower can repay the loan through production activities after obtaining this small loan.

Since its operation, the bad debt rate of Huinong Loan has been controlled within 0.5%, and the overdue rate of more than 30 days has also been controlled within 1%.

To be honest, I was able to achieve such good operational results, and I had some surprises.

It can be seen from this that the peasant households in the rural areas of China are still very simple and trustworthy.

The next step of our Huinong Loan will continue to focus on expanding business volume and reducing capital costs.

While entering more areas and serving more rural households, it is also necessary to gradually reduce interest rates and provide rural households with the most convenient and preferential financial services. ”

......

"Okay, thank you Mr. Zhang for sharing, which gives us a clearer understanding of the development process of Huinong Loan.

At the same time, I also wish that the development of Huinong Loan will be prosperous, benefit more users, and open up the last 100 meters of rural finance as soon as possible. ”

After Zhang Yida shared, the host made a concluding speech.

After Zhang Yida stepped down, Senior Brother Jing, Tang Lin, who was sitting next to him, gave him a thumbs up and said, "Yida, the results of Huinong Loan are blinding!"

"Haha, senior brother has a good reputation, this achievement is still far behind. Zhang Yida was modest, and said with a wry smile:

"I made a promise of "10 billion loans in 3 years", and now half of the time has passed, and the progress is only 30% complete. I'm a little worried, what can I do if I can't finish it?

Hey, that's a slap in the face. ”

Tang Lin's face was full of disbelief, and he said: "Is this still difficult for you? Last year, 3 billion yuan was loaned, 6 billion yuan this year, and 6 billion yuan in the first half of next year." It adds up to 15 billion, brother. Exceed targets. ”

Zhang Yida didn't argue, smiled, and said in his heart: How can it be so simple, the business volume doubles every year.

"Is your bad debt rate and overdue rate so low?" Tang Lin asked again.

Zhang Yida nodded: "The data is all true, and the trick of the five-household joint insurance is very effective." ”

Tang Lin took a long breath and said, "There is really a big difference between the city and the countryside. The overdue rate of rural credit is only 1%, do you know how much we are?

10%。 ”

Zhang Yida shook his head and said, "The two can't be confused. Cities are all about consumer finance, and lending out is all about eating, drinking, and having fun. In rural areas, it is a start-up loan and a way to get rid of poverty.

The borrower's mind and ability to perform are different.

And how low our interest rate is, the lowest is reduced to 12%. ”

Tang Lin stopped talking, they Yiyin Loan priced customers according to risk, divided customers into four categories, and the highest annualized interest rate reached 39.5%. Compared with Yiyin Loan, Huinong Loan is indeed a conscience loan.

If the loan with such a low interest rate is not repaid, then these borrowers are indeed too unconscionable.

But Yiyin Loan is a commercial organization, so it needs to be just right. The loan for benefiting farmers was taken out by Zhang Yida to invite his name.

It is true that the two cannot be compared!

"Yida, what do you think of the overseas consumer finance market?" Tang Lin asked Zhang Yida again.

Zhang Yida was a little vigilant, guessing that his action of going to sea had already attracted Tang Lin's attention. After thinking about it, he said, "It's a wild place. The land is very large, but there is a lack of cultivation tools. ”

Tang Lin nodded, the result of their investigation was the same. The Southeast Asian market is quite large, but the infrastructure is too poor.

Mobile payment, big data, credit information system...... Nothing.

As the only two listed companies in China, Yimin Netfinance and Yiyin Loan are naturally observed under a magnifying glass by Yimin Netfinance.

They also analyzed the operating data of Yimin bank, a holding subsidiary of Indonesia, released by Yimin Netfinance, and came to the conclusion that the market is temporarily immature and needs to be delayed to enter.

Unlike Yimin Wangjin's deep pockets, Yiyin Loan raised $75 million when it was listed.

It is precisely because of the lack of funds that before the domestic stock market has not been fully digested, the executives within the group are very opposed to rashly entering the overseas market.

However, Yiyin Loan is only a small part of Yiyin Group, and their main business is wealth management.

In the wealth management sector, they set up a branch in Hong Kong in 2013, a Singapore branch in 2014, and an Israel branch in 2015.

This year, they also plan to set up a subsidiary in the United States and enter the European market next year.

Yiyin Wealth's goal is to become the preferred wealth management brand for high-net-worth Chinese around the world.

Yiyin Wealth also has its own family office business, Tang Lin heard that Yimin Wealth also set up a family office some time ago, so he asked Zhang Yida:

"Yida, how is Yimin Wealth's family office business going?"

As soon as Zhang Yida heard this, he remembered that the other party also had a wealth management business. Now the business of Yimin Company is completely competitive with Yiyin Group.

Wealth management, P2P, and consumer finance are mainly in these three categories.

In addition, they also have a venture capital fund called Huachuang Capital, which is also a bit competitive with Huayi Capital!

However, the domestic market is large, and the companies that compete with each other are not one or two, but dozens, hundreds.

If Tang Lin had to be careful about himself, Zhang Yida would not let him because he was a senior brother.

Now that I see him coming over to "spy on intelligence", it is possible that he just asked casually, but Zhang Yida still had a little more vigilance, and replied with a smile:

"I'm a big customer, and my own assets account for most of the management share. Everyone else is basically giving face and investing one or two hundred million dollars to play. ”

Tang Lin didn't continue to ask, he also knew that there was a lot of competition between Yiyin Group and Yimin now, and asking more questions would cause a bad misunderstanding.

On the other hand, Yiyin Group and Ruixiang Group still have deep cooperation.

Yiyin Group invests tens of millions of advertising dollars in Ruixiang Group every year for financial management and customer acquisition on the borrowing side.

Yiyin Loan also purchased Ruixiang's risk control system and connected Ruixiang's mung bean credit score.

Therefore, he is also very measured, and he will not make a little estrangement with Zhang Yida because of a little competition, or even come out unhappily.

"I heard that you are developing robo-advisors, how are you doing?" asked Zhang Yida.

"Hehe, it's coming, it's coming out in a few months. Tang Lin said with a smile, and asked Zhang Yida rhetorically: "You have invested so much in the field of AI, robo-advisory products should do well, right?"

Zhang Yida said with a smile: "I think there are some results! The level of products on the market is uneven, and most of them are in the conceptual stage.

Since we want to do it, we must definitely make it practical. ”

Tang Lin also agrees with this point of view, saying: "The United States began to rise in 2010, and our development was a few years late. But it doesn't matter, our country has a strong learning ability, and there is still a chance to catch up. ”

"The most important thing is that robo-advisors are facing policy restrictions such as licenses and regulations, and can only provide investment advice, and are not allowed to carry out discretionary management.

If you can't get involved in the trading link, the prospect is undoubtedly much smaller. ”

Zhang Yida regretted that robo-advisors and P2P are the kind of unlicensed streaking, and they will be killed one day.

"Take your time! Tang Lin used to be mixed in Wall Street, and he was also very lamented by the backwardness of the domestic trading market, or the defects.

What scallops have long legs, pigs are starving to death, and tens of billions of financial accounts are wrong......