In recent years, with the development and application of new generation information technologies such as big data, cloud computing, blockchain, artificial intelligence and mobile Internet, the financial industry is stepping into the FINTECH era. Driven by fintech, the traditional financial industry is undergoing transformation and upgrading at the right time. Many new financial forms are also emerging. While reducing the overall cost, financial innovations such as intelligent customer service and intelligent marketing are also constantly improving the efficiency of financial services and promoting the construction of a new financial ecology.
On May 28, at the "Smart Finance, Creating the Future" FINTECH Smart Finance Forum of the 2019 Digital Expo jointly organized by China Big Data Expo and Infobird Software, Wu Yimin, chairman and president of Beijing Infobird Software Co., LTD., said that no matter how the development and progress, all fintech should return to the "customer-centric" nature of the financial industry as the service industry. How to focus on customers, reduce capacity and increase efficiency, and maximize efficiency under the same budget level has become the top priority in the transformation of financial enterprises.
The scene of the 2019 Expo FINTECH Smart Financial Forum
It is urgent for financial institutions to develop FINTECH
According to the "2018Fintech100" list released by KPMG, the global fintech market is becoming more diversified and larger. The wave of fintech is attracting investment from multiple parties at an unprecedented speed, and reshaping and influencing the financial services industry in different fields such as electronic payment, lending, insurance technology and new banks.
Industry insiders believe that China has entered a new stage of trans-era transition from "Internet +" to "intelligent +", and that fintech is reshaping the ecology of banks, requiring banks to take "openness" as the principle, and fundamentally build a future-oriented, more new-era gene, more intelligent business development mode.
Wu Yimin, chairman and president of Beijing Infobird Software Co., LTD., said that in promoting the supply-side structural reform of China's financial industry, it is urgent for financial institutions to develop FINTECH, while banks need to build cooperation, agility, innovation, cognition and digital capabilities to complete the transformation.
In this respect, many financial institutions have begun to act in the hands of Alipay and wechat.
It is understood that the Industrial and Commercial Bank of China, known as the "cosmic bank", has officially launched the construction project of intelligent bank ECOS in 2018, and actively uses new thinking, new technologies and new models to carry out "intelligent" transformation of the traditional financial service system. Under the guidance of the FinTech strategy aiming at "networking, data and intelligence", China Merchants Bank is launching a revolution of channel optimization and service upgrading driven by fintech, focusing on platform construction, traffic diversion and scene connection, to improve the systematic operation ability of retail finance and open the future of retail finance.
A previous study by Boston Consulting Group (BCG) suggested that smart change could increase retail banks' operating profits by 30% by 2020.
Smart banks should return to focusing on customer experience
Fintech is getting more and more attention in this era, mainly because it can bring better experience to customers, enable more people to enjoy financial services more conveniently and quickly, and realize inclusive finance.
Wu Yimin, chairman of Infobird Software, shares Infobird financial cloud
Therefore, Mr Wu says all fintech should return to the "customer-centric" nature of finance as a service industry. For example, we should have the concept of Open bank, marketing and customer service in specific scenarios. It's cross-channel, it's not restricted, it's what the customer likes. What's more, in the process of insight into the changes of customers, for their special adjustment of the process, so that fast, convenient has become a basic experience demand. Depending on the habits of different customer groups, it is necessary to respond quickly to their needs and market changes.
It is understood that at present, from the maturity and bank adoption of fintech, the highest is intelligent marketing, intelligent customer service. In the securities industry, intelligent investment research has also been used by companies, but it is still in the early stage.
Wu Yimin said that these technical means, applications, are improving customer experience. But "it can be used for both good and bad purposes, such as harassing customers with outgoing bots." He further explained that, in fact, banking is also a service industry, the nature of the service industry is customer-centric, customer service is good money. From the perspective of customer-centered strategy, how to reduce and increase efficiency, multiply effect with less energy, and maximize efficiency under the same budget level has become a difficult problem in front of every financial enterprise.
Reduce costs and increase efficiency to build a new financial ecology
Wu Yimin pointed out that the customer-centric strategy is to achieve customer segmentation, precise audience, resource focus, full customer journey penetration, agile process, and realize the precipitation and reuse of virtual assets. While striving to reduce financial costs, it is also constantly improving financial agility, innovation, cognition and digital capabilities, and actively promoting the construction of a new financial ecology.
The virtual assets mentioned by Wu Yimin are customer information and changes, information and portraits of various products, and responses of customers at various stages of interaction.
It is understood that the customer-centric strategic solutions and marketing service system based on customer interaction hub focus on serving the whole journey of customers, including all-channel, cross-channel, including OpenAPI, which is the channel received on various open platforms. From the business is also cross-departmental, from marketing, service, customer maintenance, collection of various links are cross-departmental, one is to focus on the promotion of each state of the customer, the second is the measurement of customer experience. CEH integration engine is the core of customer interaction hub. Its important goal is to be able to decide how to push the customer to the next step according to the information of the system and the strategy formulated in it after receiving customer information, obtaining customer demand, or getting some opinions from the customer, so as to push the customer to do state transformation.
On this basis, Inbird software has built a financial cloud system with customers as the center, which can be adapted from small customers to large customers, and has obtained ISO27001 security certification. In the financial cloud, multiple technical products can be combined, from SaaS model to PaaS model can be provided, telephone call center, omni-channel call center, marketing service system based on CEH, but also can provide electricity marketing customer maintenance system, customer service system, intelligent electricity marketing robot, intelligent quality inspection, intelligent network marketing system, etc.
Experts talk about the future of FINTECH
A number of experts and industry authorities said that the reasonable application of fintech can transform and optimize the business model and business process of financial products, improve the quality and efficiency of financial services, has broad development prospects, and is a favorable tool to promote the high-quality development of finance in the future.
While using fintech to reduce financial costs, it also continuously improves financial agility, innovation, cognition and digitalization capabilities, and actively promotes the construction of a new financial ecology. Beijing Inbird Software is one of the best practitioners.
