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What are the intentions of "financial services" turning into "technology" ants to "de finance"

Time : 15/09/2021 Author : bp0l2y Click : + -
        From "golden clothes" to "technology", ants have been brewing for several years. On June 22, ant, the parent company of Alipay, confirmed to the reporter of Beijing Business Daily that the renaming had been changed from "Zhejiang ant small and micro financial services Co., Ltd." to "ant Technology Group Co., Ltd." which will comprehensively serve the needs of social and economic digital upgrading in the future. For the industry, it is nothing new for Internet giants like ants to weaken their financial color and strengthen their scientific and technological attributes. On the one hand, from the perspective of positioning and development strategy, "ants" business has been expanded to comprehensive digital services including finance, and the renaming is taking advantage of the trend; In addition, with the stricter supervision of financial business and lower valuation, whether it is business space or upgrading to technology for later listing, it is more in line with the strategy and value of "ants".
        Ant changed its name in a low-key way and officially returned to technology. On June 22, it was reported that with the approval of the State Administration of market supervision, the full name of ant has been changed from "Zhejiang ant small and micro financial services Co., Ltd." to "ant Technology Group Co., Ltd." and the next step will be to handle the change of industrial and commercial registration. Subsequently, ant confirmed to the reporter of Beijing business daily, "the new name means that ant will fully serve the needs of social and economic digital upgrading, but ant is still the ant. It is our unchanging original intention to adhere to innovation and create value for global consumers and small and micro enterprises with technology.". The reporter of Beijing business daily noted that there are two changes in the renaming of ants: one is to remove the regional characteristics of Zhejiang, and the other is to change from "gold clothing" to "technology".
        In addition, Jing Xiandong has also used the "chairman of ant group" to make an appearance. "Jinfu" turned into "technology". In the view of the industry, ant's move has taken advantage of the trend. On the one hand, the renaming can better reflect the current positioning and strategic direction of the company, indicating that ant will pay more attention to technology driven. On the other hand, ant deserves the title of Technology Group in terms of income structure, technical services and staff composition. Ant rose from the Alipay business launched by Alibaba and further expanded to Internet-based platform services such as wealth management, credit, lending and insurance, mainly providing inclusive financial services for small and micro enterprises and consumers.
        In the past two years, ant has used the reserves of big data, cloud computing, artificial intelligence, blockchain and other technologies in financial services to continuously expand its business to digital services for enterprises and governments. Its business scope has long been beyond finance. In the view of Yu Baicheng, President of zero one research institute, although finance is still the business foundation of ant, it has been expanded to comprehensive digital services including finance in terms of positioning and development strategy. In addition, the supervision of financial business is becoming increasingly strict, and the valuation is lower. Whether it is business space or upgrading to "technology" for the next listing, it is more in line with ant's strategy and value. Che Ning, Deputy Secretary General of the Beijing Society of network law, also said that from a historical perspective, renaming means returning to technology driven positioning and adhering to the gene of technology to solve problems; From the perspective of the future, renaming means going beyond financial services and comprehensively broadening the boundaries of digital economic services, reflecting the direction of digital upgrading of ant services.
        In addition, the new name also removes the regional characteristics of "Zhejiang", which echoes the upgrading of Alipay in March this year, and visually expresses its strategic intention of facing the future and the world in form, which is in line with the company's positioning and expectations. The reporter of Beijing business daily noted that it is not overnight for ants to go to "finance" as "technology". As early as April 2017, ant said that in the future, it will only do science and technology and help financial institutions do a good job in financial services. On the one hand, ant will gradually build an open platform and fully open core financial scenarios such as yu'e Bao and fortune. On the other hand, it has reached strategic cooperation with several financial institutions based on science and technology services.
        There are many signs that ant de financialization has been brewing for a long time. In fact, not only ants, but also many Internet giants such as Baidu, and Xiaomi are "de financializing", claiming not to do finance and emphasizing "technology output". As in September, 2018, JD finance changed its name to "JD digital", adhered to the digital technology strategy, increased investment in data and technology, and said that it would not do any business unrelated to data and technology. In addition, in September 2019, Beijing Xiaomi Payment Technology Co., Ltd. also changed its name to Xiaomi Digital Technology Co., Ltd., weakening its financial attribute and strengthening its scientific and technological positioning. What are the intentions of many Internet giants such as batj to "de financialize"? What is the logic behind it? In Che Ning's view, batj and others have been technology driven companies since their birth, although their business scenarios are different. Technology has always been a gene flowing in the blood of these Internet companies.
        Therefore, de financialization also means the return of these technology companies to their original intentions and main businesses. With the continuous improvement of scientific and technological capabilities, technology has not only become the engine of the business of Internet giants, but also precipitated into the large-scale export of standardized and commercialized technical services, which has gone beyond the level of pure financial business. Suxiaorui, a senior researcher at the sack Research Institute, told the Beijing Business Daily that "de financialization" is an epitome of the current digital transformation of the financial industry, and it is also the general trend. On the one hand, the enabling role of technology in finance is increasingly prominent. New technologies such as big data, artificial intelligence and blockchain have played a crucial role in improving the quality and efficiency of financial services. Therefore, the competition of financial strength in the future requires more scientific and technological strength, emphasizing that technology can give the market and customers more peace of mind and trust.
        "On the other hand, with the maturity of the technology research and development and scenario application of the Internet giant, its business scope has gradually expanded from within the group to outside. Tob thinking such as exporting technology solutions and building an open technology ecosystem has gradually emerged in the development process of the Internet giant, which has led to an increase in the proportion of scientific researchers and the proportion of income from technology service fees. Therefore, emphasizing technology is a trend." Suxiaorui further said. Desalination of Finance and emphasis on technology may have become a "consensus" for the development of Internet giants. However, it is undeniable that at present, there are not many financial licenses in the hands of digital technology groups. Take Xiaomi, which has acted frequently recently, as an example. Since 2015, Xiaomi finance has developed into a comprehensive financial platform covering banking, payment, wealth management, insurance, small loans, consumer finance, financial technology and other sectors, and the full license "financial empire" seems to have become.
        "The Internet financial services companies at the head are positioned from financial technology to digital technology, and then to new consumer services or digital services, which are the general trend." Yu Baicheng said that for such institutions, there is still a large market demand space for both licensed self operated financial business and cooperative business serving licensed institutions. As one of the services, finance and technology will continue to play a synergistic role and promote each other. However, with both financial licenses and technology platforms, how should Internet giants clarify the boundary between finance and technology? What are the risks that need attention?. Su Xiaorui told the Beijing Business Daily that to clarify the positioning of Finance and technology, one principle is that "anyone who engages in finance must operate with a license". Financial business involves the use of funds, with clear regulatory provisions such as capital and leverage.
        Finance is prudent and naturally risky, while science and technology are open and innovative. How can the two different attributes of "prudence + innovation" collide and combine? The recently launched "regulatory sandbox" of fintech in Beijing and other places is actually a good idea. Suxiaorui further said, "The licensed nature of the financial industry has made it rare for institutions that seriously comply with regulatory regulations to have risk events; in the past two years, technological security has become a place where risks gather, such as information security accidents, APP theft of personal privacy, illegal use of crawlers and other issues, which has made Internet Finance ‘ stigmatized ’ due to various risk events in the past. Therefore, from my perspective, institutions that have changed their names and emphasized technological genes , we should keep technical safety in mind and carry out ‘ Integrity and innovation ’.
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