Gold Investor

Chapter 126 Banking License (1)
Some people have said that investing is investing in people, but no one has ever said that investing is just investing in people.In theory, it is absolutely taboo to make decisions based on the observation of one person without researching the industry or analyzing the business model.But the battlefield situation is changing rapidly, Fang Yubin can't calmly use theory to guide practice, and can only use practice to enrich theory at risk.After experiencing so many turbulent waves, I dare not say that I have developed a pair of piercing eyes, at least I have some understanding of people.This time, just trust your eyes.Whether it is a rush to the doctor in a hurry, or a business intuition far superior to ordinary people, it can only be tested by the results.

1 A good business model must be clear in a paragraph

After parking the car in the underground parking lot, Fang Yubin took out his phone and called Jiang Ruobing: "Where are you? Are you busy?"

Jiang Ruobing replied: "At the company. I just finished discussing the press conference, and it just happened to be free."

"The time for the press conference hasn't been finalized yet?" Fang Yubin asked.

"It was originally scheduled for next Monday, but now we have to change the time." Jiang Ruobing said, "Wu Juntong from Qiancheng decided to attend the press conference in person, but the itinerary has not been scheduled yet."

Fang Yubin said: "As far as he has a lot of things, he always likes to toss people!"

Jiang Ruobing said with a smile: "It doesn't matter how he struggles, as long as he can come in the end."

Jiang Ruobing is in a good mood recently. He has cooperated with Qiancheng for three months. With the help of the other party's strong marketing network, Yijia's mortgage business is booming.In just three months, the scale of mortgage transactions reached 15 billion.She even set a goal to make the scale of mortgage transactions exceed 100 billion within one year.

The long-prepared press conference can finally be staged, but unlike Fang Yubin's original idea of ​​announcing two major benefits at the same time, Jiang Ruobing plans to launch a three-pronged attack.In addition to announcing the cooperation strategy with Qiancheng and celebrating Yijia's mortgage business entering the country, Jiang Ruobing will officially change the company's name to Yijia Financial Services.

Jiang Ruobing had mentioned the company's name change many times recently. Fang Yubin felt that the matter should be left to the management team to decide, so he didn't ask about it.

Fang Yubin got out of the elevator and entered the hotel lobby.He said to Jiang Ruobing: "I'm at the Portman Hotel, and I need to meet someone soon. If you're free, come over."

"Who do you want to see, you have to pull me up?" Jiang Ruobing asked.

Fang Yubin said: "An entrepreneur used to work in a foreign bank, and now he plans to start a business and make an app related to credit cards. He just received his business plan last month, and he has not yet decided whether to invest. You are an Internet finance expert. Come here and help me out."

"In front of you, no one dares to call you an expert. It's just that when you talk about business, you need someone to serve tea and water, and I'm happy to help." Now, Jiang Ruobing has the air of a domineering female president to her subordinates. Only then can a bird depend on a person.

"That's a deal, I'll wait for you in the coffee shop." Fang Yubin said.

Fang Yubin sat in the coffee shop for a while, and the person he was waiting for arrived.Fang Yubin stood up politely, and stretched out his hand: "Mr. Qin, it's a pleasure to meet again."

The person here is Qin Taiying, who used to be a department manager in a bank, and now he founded a financial company by himself.Qin Taiying said apologetically, "Sorry for keeping you waiting."

Fang Yubin asked Qin Taiying to take a seat, and said with a smile: "You are very punctual, and you are not late. It's just that I have the habit of arriving early."

Fang Yubin pointed to the coffee on the table and said, "Last time we met, you said you love Java coffee. This time, I ordered it for you without asking for advice."

Qin Taiying picked up the coffee and took a sip: "Your memory is really good."

Fang Yubin cut to the chase and said, "Let's continue talking about your credit card repayment app. In your plan, you described the great prospects of this industry, but I have a little doubt."

"Please tell me." Qin Taiying put down the coffee cup.

Fang Yubin said: "Investors usually like to compare benchmarks. For example, if you look at the scale of Uber in the United States, you can probably know how big Didi can grow in China; you can also predict Youku from Youtube. , the prospect of iQiyi. The reason is very simple, if a business model can succeed in the United States, people will have the confidence to replicate it in China.”

"For the field you are about to enter, the benchmarking in the United States seems not to be optimistic." Fang Yubin said, "I checked the information specifically, and there are companies in the United States that provide credit card repayment services, but the scale is not large."

After Fang Yubin finished speaking, he picked up the coffee cup with his left hand, stirred the spoon with his right hand, and looked directly at the other party.Years of experience told him that he should not only listen to what entrepreneurs say, but also pay attention to their expressions when they speak.

Qin Taiying didn't feel nervous, and said calmly: "There are exceptions to everything. Not all Internet companies are looking for an American benchmark. Mr. Fang remembered the details of my love of Java coffee, but ignored another sentence I said .”

"Which sentence?" Fang Yubin asked.

Qin Taiying said: "I said this app can only be made in China, not in the United States."

Fang Yubin nodded: "I remember this sentence. Can you talk about the specific reason today?"

"Of course." Qin Taiying said, "Credit cards are very popular in China. Anyone who has used a credit card knows that when the repayment date comes, you can either pay the full amount or choose a minimum repayment amount, usually 10%. The repayment will not generate interest, but if the repayment is made according to the minimum repayment amount, the bank will start to calculate the interest. Generally speaking, the annual interest is around 18%. There are also some credit card holders who will use the cash withdrawal function, starting from the day of the cash withdrawal Interest will also be calculated.”

Qin Taiying went on to say: "China's credit card users are concentrated in the group aged 20 to 40, and their daily financial pressure is very high. After swiping a credit card, there are many people who cannot repay the full amount when it is due, and can only repay in installments. In the end , they not only have to repay the principal, but also have to bear 18% interest.”

"This is just the way Bank of China plays, and Americans don't play like this." Qin Taiying emphasized, "In the United States, banks set differentiated pricing for credit card interest, and determine the interest rate according to the degree of credit. Users with good credit have relatively less interest. To put it bluntly Now, in China, as long as the credit card is repaid in installments, no matter who you are, you have to pay 18% interest, but in the United States, the interest rate will drop significantly for people with good credit."

Qin Taiying picked up the cup again and said: "The different ways of playing Chinese and American banks determines that it is difficult to expand the credit card repayment service in the United States. Naturally, there is no successful benchmark. However, this also provides a huge market for the Chinese market. opportunity."

Fang Yubin nodded: "You plan to do things that the Bank of China does not have the energy to do, such as implementing differentiated credit card interest rates based on creditworthiness."

"It can be understood in this way." Qin Taiying said, "My business model is very simple, and it can be explained clearly in a few sentences. There is a man named Zhang San, who has good credit. Now he uses a credit card, and the installment payment will bear 18% interest. Then on the final repayment date, I will use the funds to repay Zhang San, so that there will be no interest of one penny. Next, Zhang San will return the money to me, and my interest is far lower than that of the bank, which is only about 9 %. In the end, I made money and saved money for Zhang San.”

While the two were talking, Jiang Ruobing arrived.Fang Yubin said: "Qin Zonggang introduced his business model in a paragraph, and I will try to repeat it to you."

After Fang Yubin repeated it, he said with a smile: "I have always believed that a good business model must be clear in one sentence. If a sentence is not clear, it can only prove that the model itself is not clear."

"Actually, you don't need a paragraph, just a sentence." Encouraged Qin Taiying smiled and said, "Helping banks differentiate credit card interest rates, our profit comes from the interest rate difference."

Jiang Ruobing asked: "The key to this model is still the risk control link. You help users repay the credit card in advance, and then they don't pay you back, what should you do?"

Qin Taiying said confidently: "This business model has an inherent advantage, that is, the bank will check for us in the risk control link. At present, in China, the major banks with the strictest risk control system are undoubtedly the major banks. When applying for a credit card, there will be strict approval procedures. The credit limit of each person is carefully calculated. For example, Zhang San’s credit card limit is 1. After completing the minimum repayment amount of 1000 yuan, the remaining 9000 yuan I will lend it to him. In other words, my loan amount has always been maintained at 90% of the bank credit line. Therefore, I think the risk is controllable."

Jiang Ruobing asked: "You mean, there is no need to do risk control management?"

"Of course not." Qin Taiying said, "The bank is only the first insurance, and we will still conduct strict audits to achieve double insurance. When customers register for the APP, they will be required to provide detailed asset credit certificates."

While listening, Fang Yubin took out the other party's proposal and flipped through it.After Qin Taiying finished speaking, he immediately asked, "Is your ideal investment amount 1.5 million?"

Qin Taiying said: "It is written in the plan that it is 1.5 million, but the current situation has changed. Recently, I have contacted many investment institutions. They recognize my business model very much, and the investment amount is constantly increasing. It has already called for 2 million."

Fang Yubin, who was used to strong winds and waves, had a calm expression as usual.In his opinion, it doesn't really matter whether what Qin Taiying said is the truth or what he did at the negotiating table.Second-rate masters only need to see their moves, and first-rate masters only need to make moves, leaving the work of dismantling to their opponents. They have already made up their minds and will not be disturbed by any episode.

Fang Yubin said: "Leaving aside the amount of investment, let's talk about the business model. In my opinion, there are still two blind spots in this business model."

"Please enlighten me." Qin Taiying spoke politely, but there was a trace of challenge in his eyes.

Fang Yubin said: "You mentioned using the bank's risk control system, which is specious. Because you can't borrow someone else's risk control system." After a pause, he continued: "Everyone in finance knows that risk control The system runs through the entire financing process. You only see that the bank’s credit card approval is very strict, but you ignore that they also have a nationwide marketing network and a mature debt collection team. Once a default occurs, the bank can immediately start the corresponding procedures, but you I can only look at the ocean and sigh."

"For example." Fang Yubin took a sip of his coffee, "Your company is in Shanghai, if a credit card user in Xinjiang defaults, what would you do? The bank has a branch in the local area and a legal consultant who has cooperated all year round, so it can be easily resolved. .But you are just a small business, so why don't you send someone on a plane to collect debts?"

"I don't mean anything else." Fang Yubin added, "It's a good idea to use the bank's risk control to avoid your own risks, but you can't expect too much. The key is to establish a strict risk control system yourself."

Seeing Qin Taiying lost in thought, Fang Yubin continued: "Another point is even more serious, which is the source of funds. Whether it is 1.5 million or 2 million, I think it is far from enough. The promotion and maintenance of the APP after it goes online can easily cost tens of millions. .With more than 1 million yuan left, how much can you do? Once the business is booming, all the money will be released in less than a month. New users keep pouring in. How much money do you use to help people repay their credit cards first? "

Qin Taiying said: "Once the money is released, there will be flow back every month, and the development can be rolling."

Fang Yubin shook his head and said: "The release of 1 million yuan, the most ideal situation, the return of funds in a month is only more than 1000 million yuan, can it support rolling development?"

Qin Taiying is not convinced: "If the business is hot, you can go to the bank for a loan, or even start the second round of financing, and the money will come naturally."

Fang Yubin said: "Without you, the bank would be able to make money steadily from credit card users at an annual interest rate of 18%. Because of you, credit card users repay on time, and the bank has no interest. If you were a bank, it would lend money to Is this kind of person? As for the second round of financing, I have never advocated using assumptions and forecasts to solve real problems.”

Seeing that Qin Taiying was speechless for a while, Jiang Ruobing said: "Actually, there is nothing wrong with finding a bank. The key is to find the right place. Most of the banks that can issue credit cards are national comprehensive banks. Many city commercial banks are not qualified to issue credit cards. In other words, you have not blocked Their way of making money. At this time, why can’t the two parties cooperate? The city commercial bank lends you money, and you lend it to ordinary credit card users. The three parties win-win and everyone gets rich.”

Qin Taiying glanced at Jiang Ruobing in surprise, nodded and said, "This is the way."

"Invite Mr. Jiang, I really invited a wise man." Fang Yubin smiled and said, "I am very sincere about cooperation. It's just that I raised so many questions today, can you go back and digest them, and meet again in three days. Once, what does Boss Qin think?"

"Okay." Qin Taiying stood up and said goodbye.

After sending Qin Taiying away, Fang Yubin had no intention of leaving.He moved his seat and faced Jiang Ruobing: "How about it, help me as a staff officer?"

"Not so much." Jiang Ruobing smiled, "Not to mention the project, but based on my understanding of your company, you don't seem to have such a big appetite."

"What's your company, it's very important to say, we are a family." Fang Yubin said.

"Don't!" Jiang Ruobing pursed her lips, "You and Miss Su are a family, I don't have this blessing."

Fang Yubin's face flushed slightly: "It's business, don't be joking."

"Okay, let's get down to business." Jiang Ruobing spread his hands, "You can tell, some investors have already called out 2 million quotations, as far as I know, your Xinglan Capital can't offer 2 million now, right? "

Fang Yubin nodded: "After all, Xinglan has just started. It has invested hundreds of millions in Yijia. Recently, it has invested in an Internet finance company in Beijing, which is doing campus loans. There is also a small guarantee company in Chongqing, which is estimated to be completed soon. An investment agreement will be signed."

Jiang Ruobing said: "This is terrible, what are you using to invest in others?"

Fang Yubin said with a smile: "Investment companies usually rush to invest in good projects. But they are very particular about how to grab. People call 2 million, and I will increase it to 3 million. That is too untechnical."

Jiang Ruobing blinked: "You asked me to come today, not just as a staff officer, right?"

"Nothing can be hidden from you." Fang Yubin said, "I just told Qin Taiying that the source of funds and risk control are two major problems before him. You can help him solve these two problems."

"I knew it, there's nothing good about calling me here," Jiang Ruobing said.

"This is not about helping others, but a business opportunity." Fang Yubin said, "The scale of Yijia's transactions is getting bigger and bigger, so much money always has to find an outlet. You cooperate with Qin Taiying and lend him the money. How should you collect it?" The interest can be charged as you like. This business is money making money for him, and it is money making money for you."

Jiang Ruobing said: "He only makes less than 10% of the profit, how much interest can he give me?"

"It's not high, but the risk factor is also very low." Fang Yubin said, "What Qin Taiying said is not entirely wrong. The credit card repayment service has a far lower risk of default than ordinary private loans. After all, the credit card approval process is controlled by banks. .Of course, this alone is not enough. The company also needs to establish its own risk control system. Yijia’s risk control system, under your care, is considered to be the best among Internet financial companies. If you can take this system out Sharing with Qin Taiying, double insurance is complete."

"What?" Jiang Ruobing looked surprised, "Not only did you ask me to lend him money, but you also shared the risk control system? For this system, we spent a lot of money."

"Resource integration." Fang Yubin said, "Take it out and share it, there is no loss to you. After Qin Taiying's customers register online and submit information, they will be sent to the backstage of Yijia. It is just borrowing your system, and it will not Steal the core technology."

"You are really good at calculating and budgeting carefully, and you put all the work on my head." Jiang Ruobing said, "A while ago you invested in an app in Beijing that makes campus loans, and you also asked Yijia to cooperate with them. The two parties set up entrances on the platform, mutual import traffic."

Fang Yubin said: "Facts have proved that this kind of cooperation with Yijia did not suffer a loss. In the beginning, Yijia did lead to more traffic, but now that their business is gradually increasing, it also leads to a lot of traffic for you."

(End of this chapter)