At the end of December 89, before the melon-eating masses in Hong Kong could react, the plan of the new venture to acquire HSBC's Hang Seng Bank ended like lightning.

This drama was full of twists and turns, and at the beginning, everyone was still discussing who was more awesome between the new venture group and HSBC, and who could kill whom. There are also people who give advice to HSBC to cut off the loan of the new entrepreneurship department to see if it is still awesome.

Some people also analyzed the new entrepreneurship department, believing that if the new entrepreneurship department can buy HSBC's equity all the way, and contact more HSBC shareholders, hold a board meeting, and prevent HSBC from transferring assets, it is still feasible to acquire HSBC. But this requires the cooperation of a bunch of HSBC's veterans and shareholders, which has stirred up a series of practices by HSBC's management to resist takeovers.

In the end, none of this happened, and the two companies fell out in less than a month before HSBC sold Hang Seng Bank to the new venture department.

But this is actually very HSBC, when HSBC is greedy, it keeps swallowing and acquiring. But sometimes, it's neat and easy to sell an asset. For example, Hutchison Whampoa passively became a major shareholder because of debts, but did not want Hutchison Whampoa, so it packaged and sold its assets and debts to Li Ka-shing, and at the same time, provided loans to Li Ka-shing for the acquisition of Hutchison Whampoa.

Essentially, HSBC is a bank, and most importantly it deals with credit and currency, and other assets, including subsidiaries like Hang Seng Bank, can be sold if necessary. The post-HSBC business contraction was marked by a continuous sale of underperforming subsidiaries around the world.

Of course, Hang Seng is not a bad business, on the contrary, except for a run in the 60s when it was forced to sell itself to HSBC, in fact, Hang Seng is a rare small giant in Hong Kong's banking industry. In addition to not being a note-issuing bank, Hang Seng has always been one of the top three major banks in Hong Kong's banking industry, and currently has more market share than HSBC in Hong Kong's personal loan and SME lending business.

It can be said that the merger of such a bank into the new entrepreneurship department has basically solved the financial weakness of the new entrepreneurship department. For example, the salary card for payroll and the replacement of the card for Hang Seng Bank are enough for Hang Seng Bank to obtain a large number of low-interest deposits. In addition, the credit of individual employees of the new entrepreneurship department is naturally stronger than that of employees of other companies, and if they are designated to apply to Hang Seng Bank for credit cards, housing loans, car loans, etc., it can also make Hang Seng's business volume skyrocket, and the default rate is extremely low.

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The equity of Hang Seng Bank belongs to Lin Qi's relatively low-key "Xinqi Future Holding Company". This company, although not as famous as the new venture electronics group, can be regarded as Lin Qi's own son. Moreover, because the major companies of the new entrepreneurship department, even if there is no equity association, and because the actual controller is Lin Qi, they can also form ecological complementarity with each other.

Lin Qi simply appeared at the board and management meetings of Hang Seng Bank and held a brief meeting and said: "The acquisition of Hang Seng Bank by the new venture department is on the one hand to take a fancy to Hang Seng Bank's financial experience and make up for our unfamiliarity with the traditional banking and financial business. The second is that we have some future layouts that need to be realized through Hang Seng Bank. If we say that in the future 90s and the beginning of the 21st century, what industry will develop best, I will definitely tell you that the Internet industry has the most prospects. In the future, basically most industries will be closely related to the Internet and use the Internet as a tool.

Banks are no exception, and in the future, people will be able to use the Internet to do business and place orders without having to meet in person. At the same time, small loans can also be given a certain amount on the Internet without signing a contract face-to-face. A relatively small amount of money is used to control the risk, and at the same time, after the quota is already available, we do not need to sign a specific contract for each loan face-to-face. Instead, you can manage your limit, bills, and credit just like a credit card. For example, if a user pays a utility bill on the Internet and pays to the account of the utility company, he does not need to use cash, but can use the credit line on the network to pay. After a month, we will tell the user through the Internet platform, text message or phone call that you should repay the loan even if you want to avoid default.

When the Internet technology is developed, we don't need to call the customer service to tell this, and the system will automatically remind the user...... In the future, you may not even need a bank card, you only need an account password, you can access the Internet, and you can pay anytime and anywhere.

The Department of New Entrepreneurship is a leading enterprise in technology, and in the future, we will continue to develop and promote these technological things to change the way people consume and live.

Hang Seng Bank used to be a sub-brand of HSBC, but I believe that in the future, if we seize the opportunity to use the Internet as a breakthrough, we will ...... Actively integrate into the domestic market and seize the historic opportunity of China's economic rise, in the future, I think Hang Seng Bank will be much more promising than HSBC!

Hang Seng is not out of HSBC's control, and it will never surpass HSBC!

However, out of HSBC's control, I think Hang Seng has great hope and will do better than HSBC! Thank you, that's all I said, is there any objection to it?"

Moment......

These employees and shareholders learn to applaud without a teacher!

Oppose?

Compared with simple financial resources, most of HSBC's money is customers' money, not its own money. HSBC's own financial resources are not comparable to the new venture electronics group!

Therefore, having accepted the change of owner, they naturally actively responded to the call of the new owner!

Subsequently, many software and Internet-related teams of the new entrepreneurship department gradually began to settle in, preparing to rebuild the financial transaction system of Hang Seng Bank, including the internal computer system, as well as the Internet transfer, clearing and other systems, in addition, will also successively develop the website of Hang Seng Bank, as well as a series of service products such as the bank's client.

The training of employees and the integration of the team are also slowly running-in.

After all, the IT team may not be proficient in finance, and the financial team may not be IT masters, the two sides have different business capabilities, learn from each other, do not seek financial elites to learn IT elites, nor do they seek IT people to become financial experts, at least, both sides must have an understanding of each other's business processes and common sense. In this process of learning from each other and running-in, we have also created a new Hengsheng!

The new Hang Seng is not only engraved with the brand of the new entrepreneurship department, but also ...... It is also a deep Internet transformation!

Traditional banking business needs to consume a lot of capital and resources, and the development cannot be fast. Once the pursuit of fast, it must be a great risk, which is contrary to the core competitiveness of the financial industry is to control risks.

Therefore, the transformation of the Internet is essentially to reduce the cost of acquiring customers and the cost of services in the process of customer transactions. In the future, the more users there are, the lower the cost, mainly because the cost of a bank with a capital of 100 billion and a bank with a capital of 10 trillion yuan will be similar to the cost of developing a financial website and IT. Therefore, the larger the scale of the Internet-based bank, the more it can reduce costs with the help of the Internet.

Later, the financial industry around the world is crazy about dividing the financial resources, because many businesses no longer need people to execute. Mechanical work does not require too complex intelligence and adaptability, so Internet programs are definitely more efficient than people. I'm sorry that the financial industry looks very professional and tiring to learn, but just humans are very tired to learn, and for programs, a lot of homework is simply repetitive, so there is no need to use people at all.

For example, before the popularization of the Internet, exchanges and securities companies around the world were doing this kind of thing, and they were very busy when they came to work and trading. However, since then, the size of transactions in the world's capital markets has increased, and there have been fewer and fewer traders, because ...... 99% of the links, there is no need to manually do that kind of inefficient matchmaking transactions. On computer servers, many large companies even let AI operate their accounts, resulting in high-frequency trading of major companies, which is AI and AI trading, algorithms and algorithmic trading. Ordinary human beings, if they go to the high-frequency and short-term with the machine, Nima's, it is better to lose and lose more quickly.

Short-term high-frequency trading is no longer suitable for human beings. There are only some value investments and long-term shareholding concepts, which have not been eliminated with the development of technology in the times.

Even so, there are more and more AI trading programs in the future, and there are AI programs that trade according to certain rules, which can be both a value investment AI program for companies that automatically analyze financial statements. There are also some AIs that make short-term trades based on fluctuations in exchange data. The use of AI for program trading, later that is, quantitative investment, after quantitative, let the AI program with a not too high IQ replace the execution of human transactions.

In addition, later on, there were even more intelligent AI trading rules that were not told at all, allowing AI to learn how to trade and make a profit on its own. The scary thing is...... This AI has outperformed humans, for example, the U.S.-listed public fund "Artificial Intelligence Driven Stock ETF", Nima's, is not a human trader trading at all, it is completely intelligent AI learning to trade on its own. At first, it was ridiculed as an artificial intellectual disability, but this artificial intellectual disability is almost constantly learning and optimizing algorithms, and gradually outperforming representative indices such as the S&P 500.

S&P 500 indexed investment, in theory 30 years as the term, the index can outperform 99% of investors, including professional fund managers and star traders of securities companies, it is not uncommon to outperform the index in the short term, and few can achieve a 30-year annualized return higher than the index. Those who can stably have a higher return than the index for decades are generally Buffett graded.

But...... Intelligent AI outperformed the index, which has shown its level in the investment field, beating 99% of humans. Moreover, the algorithm has been optimized, and it is possible that the investors with the most annualized returns in the future will not be humans, but will only be various versions of AI automated trading robots.

Human beings are creatures who, when they are arrogant, feel that they are superior to God.

But...... In reality, humans are not really that powerful!

Just like AI, it is beginning to master more and more complex skills, such as playing chess, surgery, investment, ...... All in all, it is the Internet of AI, which has been proven to be more efficient than humans in many fields. So, if you can't resist the Internet, then ...... Just embrace the Internet.

In essence, many of the templates for the tailor-made IT system for Hang Seng Bank are imitated by later generations. There are already a lot of templates for IT web pages and clients in the laboratory within the Department of New Entrepreneurship.

It's just that the bank can't emphasize security, so the settings of various encryptions are much more rigorous than ordinary websites. Moreover, the programmers of large companies such as the New Venture Electronics Group are naturally not comparable to the programmers of ordinary companies.

Therefore, the level of security of the financial system is definitely leading the world at present. Unless, internal management is mismanaged, and there is some self-theft, then ...... No matter how good the hardware and software are, they can't do it.

However, in order to avoid self-theft, many of Hang Seng's services require on-site video, and the work tasks performed by the staff can be called up to the specific time and video recording of the specific business. In this way, the degree of standardization is further improved.

All in all, after Hang Seng has been continuously invested in capital and technological transformation by the new entrepreneurship department, the goal is to integrate an advanced bank that has been leading the world for more than 15 years, rather than an ordinary commercial bank.

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