Winning the new financial era

Chapter 457
In a manor in Jakarta, under a sun umbrella, four people gathered together to drink tea.

Except for Zhang Yida, the other three are all old men in their 60s and [-]s.

Weng Junmin, who is wearing a Batik printed shirt, does not look old at all even though he is 65 years old.

If it weren't for the Mediterranean hairstyle that made people look old, they would look like they were in their early fifties.

As soon as the old man came up, he greeted Zhang Yida enthusiastically in Chinese, and even exaggerated that Yida's acquisition was straightforward.

Looking at this old man with a hearty smile, Zhang Yida thought a lot.

The ancestral home is Putian, Fujian Province, and his father went to Nanyang to work as a laborer in Jakarta when he was 12 years old.He himself was born in Surabaya, Indonesia in 1952.

The thing that changed the trajectory of his life happened when he was studying at Nanyang University in Singapore. He met his current wife, Li Hong, who is also the daughter of Indonesian money king Li Wenzheng.

It was the 70s, and Li Wenzheng was already the president of the largest private bank in Indonesia.

The reason why he was willing to marry his daughter to this poor boy was mostly because he valued that he could be admitted to Nanyang University in Singapore.

Nanyang University in Singapore is the first overseas Chinese university in history, and it was also the only Chinese university in Southeast Asia and even overseas.

One can imagine its status in the hearts of Chinese in Southeast Asia!

In the first week after marriage, Li Wenzheng said to him: "I have made a decision, my son-in-law is not allowed to work in my bank!"

Immediately, 21-year-old Weng Junmin blurted out: "I don't know what I want to do, but I want to surpass you!"

Later, Weng Junmin really came out and started his own family, and became the only family member who did not participate in the family business of Lippo Group.

Starting from a small business, Weng Junmin sold Yangcheng Pearl River moon cakes and acted as an agent for Dongying Motors.

It wasn't until the financial turmoil broke out in Indonesia in 1997 that he succeeded in bargain hunting, and his career really took off!
This year's Forbes list was also released. He ranked 35th in Indonesia with a worth of US$8 billion, surpassing his father-in-law Li Wenzheng who was worth US$30 billion and ranked 9th.

At the same time, he also fulfilled his vow 40 years ago!Both Weng and his son-in-law are among the top ten richest people in Indonesia, making them a great story!
In addition, he was once a popular candidate for Indonesia's vice president.

Although he was not successfully elected, he has a deep relationship in Indonesian political circles. He is one of the nine members of the Indonesian Presidential Advisory Council and the only Chinese among the nine members.

In addition, Guoxin Group, which he founded, also established a student aid fund at Peking University. This year, he himself donated more than 1 million yuan to Fujian Province.

It sounds like a story of a poor boy marrying Bai Fumei, and his wealth counterattacks his father-in-law!
But Zhang Yida heard from Li Wenzheng's grandson, Li Chuan, that Weng Junmin once fell down in the automobile trade in the 80s, and it was his father-in-law's support that allowed him to recover.

But because of this, you can't deny his personal efforts!
In the ten years after his marriage, he almost always started his own business, without any support from Li Wenzheng.

Weng Junmin's beginning is similar to Samsung's son-in-law, but the ending is completely different!
Zhang Yida felt that this was the cultural treasures inherited from the Chinese nation at work!

Because the Chinese believe: "The princes and generals would rather have kindness", "Victory is created with both hands"...

There is also a reason why more than two-thirds of the richest people in the ten countries in Southeast Asia are Chinese.

In addition, I have to say that having a good father-in-law really saves decades of struggle!

Futukang Guotaimin, Li Jiacheng, and South Korea’s Lotte Group all started their businesses with their father-in-law.

Some people lack such an opportunity in this life. If there is an opportunity, the carp will jump the dragon's gate, and if there is no opportunity, they will disappear under the passing of time!

The elegant man in a white shirt next to Weng Junmin is Chen Zhishen, the president of Pangu Bank, and the grandson of the founder of Pangu Bank.

This man is nearly 97 years old. His first battle of fame was when Thailand encountered a financial crisis in 500. He led Pangu Bank to survive the crisis and became the largest commercial bank in Thailand, with total assets exceeding US$[-] billion.

Not to mention Huang Hongnian, who was once hailed as the number one mentor in China's capital operations.

This group of people naturally understands finance well, so Zhang Yida talked about Internet + finance, which he is good at.

"The Internet's biggest change to the financial industry is reflected in the word "efficiency".

The definition of Internet banking is to move traditional banks to the Internet, provide Internet financial services to customers, and realize all business operations of banks.

The significance of Internet banking is to supplement traditional banking services.

Generally, traditional banks mainly serve large companies, and basically do not benefit small and micro customers.

Internet banks, through cutting-edge technologies such as big data and AI, have made it possible to serve small and micro economies.

Take traditional banks as an example, including the maintenance costs of various channels such as outlets and branches, as well as the operating costs before and after lending.

However, all customer acquisition, risk control, and services of Internet banks are completed online, which can greatly save the decoration and rental expenses of branch construction, as well as the labor costs of branch service personnel..."

The three of them were listening to Zhang Yida's introduction very seriously. China's Internet financial technology is undoubtedly at the forefront of the world.

And Zhang Yida, who holds a super unicorn like Ruixiang and several mutual fund listed companies, is undoubtedly an expert in it.

So Huang Hongnian came to be a lobbyist, Weng Junmin and Chen Zhishen almost didn't think much about it, and readily agreed to form a joint consortium to jointly acquire Baoshi Bank.

They got together today to discuss the next operation strategy and plan of Gem Bank.

Zhang Yida went on to say: "Under the traditional bank counter business model, customers need to wait in line to get a number, and may also face situations such as poor service and difficult loan approval, which is time-consuming and laborious.

Internet banks do not have physical outlets or branches.

Customers open an account online without being restricted by time, place, space, etc., and can complete all financial business transactions;
Through networked and programmatic transactions and fast and automatic computer processing, it saves cumbersome procedures and time spent running outlets. "

Weng Junmin asked with a serious face: "Yida, according to what you mean, you want to abolish the offline branches of Baoshi Bank and fully transform to online?"

Zhang Yida nodded, "Yes, that's what it means. The saved labor costs will be converted into bank profits."

"Jewel Bank has more than 200 branches and nearly 400 outlets. If it is abolished all of a sudden, tens of thousands of people may lose their jobs."

What Chen Zhishen considers is the social impact. A foreign-funded enterprise acquired a local bank in Indonesia and laid off tens of thousands of employees at once. This is not going to explode!

Hearing this, Weng Junmin, who is proficient in politics, suddenly changed his face.

He waved his hand and said, "Layoffs are definitely not an option, let alone laying off tens of thousands of people at once, even laying off thousands of people will cause great controversy.

We are all Chinese-funded, which can easily arouse the hostility of the Indonesian government and the whole society. "

Zhang Yida had expected this to happen, and explained with a smile: "There is no rush for this matter, you can take your time. It is impossible to do such a stupid thing by laying off tens of thousands of employees at once.

This reform has to be done step by step.In addition, before Internet banking scales up, traditional businesses are also needed to generate profits.

I also have a plan B, which is to set up an Internet bank separately from Gem Bank's traditional banking business.

In this way, there will not be too many contradictions with traditional business. "

"This method is feasible, but Indonesia currently does not have a relevant financial license."

Huang Hongnian looked at Zhang Yida and asked his own question.

Zhang Yida looked at Weng Junmin, and said with a smile: "This requires some effort from Mr. Weng. Isn't OJK issuing P2P licenses? It shouldn't be a big problem to have another Internet banking license, right?"

Weng Junmin has also been a figure in the business world for more than [-] years. Hearing this, he immediately knew why Zhang Yida was so kind to recruit him into the group.

It turned out that he wanted to use his political and business resources!

However, he is not disgusted. Doing business in partnership is to invest resources together.

Zhang Yida has come up with top-notch fintech technology and operational experience, so he naturally needs to show something.

"This is no problem, I can communicate with OJK officials."

Chen Zhishen also stated: "If the Indonesian case is more successful, in Thailand, our Pangu Bank can also communicate with the authorities."

Zhang Yida nodded and smiled, "Then there are two of you!"

"These are little things!"

Weng Junmin waved his hand, looking at Zhang Yida with piercing eyes that were slightly swollen due to aging, "That technology and talent..."

"Yimin bank can merge into the gem banking system!"

Of course, Weng Junmin has heard of Yimin Bank, and he also knows that the operation is quite good, with monthly loans of hundreds of millions and amazing profits.

He laughed loudly and said, "That puts Yida at a disadvantage, and we old guys follow suit."

Zhang Yida waved his hand and said with a smile, "Since we are partners, we should all be proud."

After negotiating their respective resource inputs, there are basically no major problems.

Zhang Yida began to tell the three people the stories of the three major domestic Internet banks, WeBank, MYbank, and Xingwang Bank.

When they heard words such as "hundreds of billions of annual loans" and "valuation of hundreds of billions", the three became more interested.

Zhang Yida didn't try to fool around, but compared the population and economic gap between Indonesia and China, and made a realistic estimate of the Internet bank in Indonesia.

In the end, it was concluded that the goal of reaching one-tenth of the size of Weizhong and online merchants is more realistic.

All three of them nodded. One-tenth of the size is also very good, and that is also a company with a valuation of tens of billions.

However, all three of them were bankers, and they still prefer to watch some real things.

Valuation is a relatively imaginary thing, and they want to hear figures such as actual revenue and net profit.

The actual revenue and net profit of Internet banks are not bad. Taking WeBank as an example, the revenue in 16 was 67 billion and the net profit was 14 billion.

The three of them were finally satisfied, because these figures could be found, and they were not afraid of Zhang Yida telling lies to fool them.

Internet banking is very interesting!

"I heard that you and Ponima were having some troubles. Do you need me to ask the Chaoshan Chamber of Commerce to help you make peace?"

Chen Zhishen's family is also from Chaoshan, and has close ties with Chaoshan chambers of commerce in Hong Kong and mainland China.

Bonima is also from Chaoshan, and Penguin also received investment from Li Zekai, who also belongs to the Chaoshan merchant gang, in the early days.

Zhang Yida declined the kindness politely. The conflict between Bonima and him was too great. Before he beat the penguin severely, Bonima would never show weakness.

And if Zhonghe is allowed to withdraw from some fields, what is the point of this agreement?
Chen Zhishen only mentioned it, and he also knew the power of Ponima. A chamber of commerce could only say a few words.

Seeing that Zhang Yida had no intentions, he simply didn't mention it.

(End of this chapter)