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Technology empowers bank app to ease pain points of SME financing

Time: 2019-12-18 08:23 Source: Internet Author: admin Hits: 1321 times
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The fourth meeting of the State Council Leading Group for Promoting the Development of Small and Medium-sized Enterprises was held a few days ago. The meeting pointed out that it is necessary to increase efforts to serve SMEs, improve the financing guarantee system for SMEs, and speed up the construction of credit information platforms for SMEs. As a force for serving small and medium-sized enterprises, a number of banks have recently increased their APPs that specifically serve small and micro enterprises, providing business owners with one-stop online services throughout the entire process.

Analysts believe that the launch of a specialized sector APP by a commercial bank can not only improve the accessibility of loans to small and micro customers, but also ensure the bank's own asset quality. However, while leveraging FinTech, we need to guard against new risks.

Recently, China Merchants Bank released a special product for small and micro business owners-China Merchants Loan App. The China Merchants Loan App is a merits of small and micro enterprise loan approval progress, opaque, unpredictable approval and other pain points, integrated retail online and offline products, to provide small and micro business owners with a full-process one-stop online service, and one-to-one A series of comprehensive financial services platforms such as dedicated account manager online consulting services.

According to relevant personnel of China Merchants Bank, China Merchants App has three major advantages: First, the entire process is online, making it easier for small and micro loans. Through the leasing app, small and micro customers can apply for authorization online, complete online pre-approval operations, and at the same time check the progress of loan processing online in real time; the second is a dedicated account manager, which makes online consultation easier. It will be different from general online customer service. The one-to-one exclusive service of the Merchants Loan APP is provided by the small and micro loan account manager of China Merchants Bank that actually operates the business offline. It has rich experience and can provide solutions in a timely and effective manner to ensure the efficiency and quality of consultation. Provide comprehensive business services and build a small and micro enterprise ecosystem. In addition to loan services, the China Merchants App also extends its functions to non-loan-type “integrated financial services”, builds an ecosystem of small and micro enterprises, and provides small and micro customers with more space for future development.

Earlier, China Construction Bank also released a smart mobile financial service app tailored for small and micro enterprise groups-"CCB Huiyou", as well as the "Agribank e Butler" APP of Agricultural Bank and the "Zheshang" of Zheshang Bank. The “Bank Small and Micro Money Shop” APPs are all APPs set up by banks to facilitate the financing of small and micro enterprises.

The industry believes that the frequent launch of exclusive small and micro financial service APPs reflects the situation in which Fintech can support small and micro enterprises from multiple perspectives. Specifically, the first is the technical level. Fintech can reduce the pre-loan review process, greatly speeding up the approval process and the speed of lending. The second is the risk control capability, which uses big data for modeling analysis, risk control input, and cross-validation through multidimensional data. , To better judge the borrowing risks of small and micro enterprises, and give corresponding risk pricing. At the same time, driven by digital means, anti-fraud technology has also been upgraded from manual detection mode to black and white list, rule engine, supervised learning algorithm and other modes. Through continuous upgrade and iteration, it has achieved continuous confrontation with the black industry. Third, service capabilities On the one hand, the output of fintech capabilities can effectively reduce the development costs and trial and error costs of some financial institutions' transition to key service small and micro enterprises.

Some researchers also said that at this stage Fintech is still in the process of finding industry pain points and adapting to the industry. The use of Fintech may also introduce new risks. With the widespread application of fintech, financial institutions have not only increased related investment, but also faced more pressure on risk management. In recent years, hackers have increasingly attacked financial institutions, and there are risks such as leakage of customer information; the use of fintech may face risks such as information system disruption; fintech itself involves complex technologies and algorithms, and may have model risks. Therefore, banks must also establish an effective risk management and control system for fintech applications themselves when leveraging fintech.

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