Ali doubts: Why do we give up the first private banking license? NOTE: rather miss \u0026 ldquo; \u0026 rdquo ;, the first departure of Ali will insist pure Internet bank model. Yu Sheng law stressed that the main reason has not yet submitted an application to build that many aspects of the preparation program is not yet mature, once landed will soon submit an application to the China Banking Regulatory Commission to build, \u0026 ldquo; should be faster, and we have to do pure online bank model is the cause of First, because there is no precedent, in addition to environmental and other aspects of the market research we still need time. \u0026 Rdquo; the dream of Internet banking for Ali Ali always remember the beginning of the heart. For missed the first build opportunity reasons, Ali small micro Financial Services Group (chips), vice president of Yu Sheng Law 30 on the 21st Century Business Herald reporter said, \u0026 ldquo; the shareholder structure and scale is not a problem, we are fully in accordance with the stake of regulatory requirements to Ali is no will to control high stake. \u0026 Rdquo; Yu Sheng law stressed that the main reason has not yet submitted an application to build that many aspects of the preparation program is not yet mature, once landed will soon submit an application to the China Banking Regulatory Commission to build, \u0026 ldquo; should be faster, and we have to do is pure online banking model One of the reasons, because there is no precedent, in addition to environmental and other aspects of the market research we still need time. \u0026 Rdquo; Yu Sheng Law also revealed mid wigs the bank to communicate with the China Banking Regulatory Commission to build the group to be set up. And Yu himself, Ali, deputy director of the performance of their duties before the Finance Office in Hangzhou, previously served as Governor of the Bank of Hangzhou, the future governor candidate Ali banks. July 25 announced that the China Banking Regulatory Commission has formally approved the establishment of three private banks to apply.
They are: Tencent, businesses source, Founding main sponsor, set up in Shenzhen Qianhai Micro Focus Bank in Shenzhen, Guangdong Province; Chint, Huafeng main sponsor, the establishment of civil and commercial banks in Wenzhou, Wenzhou City, Zhejiang Province, and north, wheat purchase main sponsor, set up in Tianjin Tianjin Jincheng Bank. Startling is that high voice Alibaba has missed the first build. Back in March of this year, the CBRC around forwarded to recommend a pilot program to determine the merit of the first five private banks pilot program, Ali Baba, universal, Tencent, businesses source, both Yao, Fosun, Business Meeting, north, Chint, Huafeng etc listed in its. Comments \u0026 ldquo; Internet Bank \u0026 rdquo; rather miss \u0026 ldquo; \u0026 rdquo ;, the first departure of Ali will insist its pure online banking model. According to the CBRC had introduced a pilot program in the private banking news briefing, the bank Alibaba program characteristics are as follows: first, the small depositors small loans mode sets an upper limit for deposits and loans, features clear, consistent differences in management-oriented; second, the network Bank model, the use of Internet technology to conduct banking business, customers from the Cosplay Costumes electricity business. The so-called online banking model, is entirely dependent on the Internet to conduct business online banking, there is no physical network offline. At present, there is no precedent for the relevant laws and regulations of Internet banking is also blank. For example, there is no geographical restrictions, no part of the line be signed, the transaction contract signing to and compliance is difficult to determine, the electronic contracts and electronic signatures, and so innovations need appropriate regulatory improvement. This is perhaps one of the factors reported Ali has yet to consider the application. Currently the first and only network Zhong An insurance company online, Alibaba is its largest single shareholder. In addition to completely rely on the Internet for business, market positioning network banks are also different from traditional banks. Its target customers in e-commerce trading platform for small businesses and individual shop operators (providing credit network, network order loans), as well as online shopping consumers (providing consumer loans).
Ali in this regard not only has its own unique advantages of big data and customers, in fact, designed for electricity networks put Ali Ali microfinance for small loans have accumulated some experience in risk control and credit. Over the years, hundreds of millions of users of financial information on the Alibaba e-commerce platform accumulated behavioral data are based on their online banking operations. At the same time, if the network bank accounts and PayPal accounts to bind the PayPal account to the retained funds Autosave network of bank accounts, which deposit funding does not seem to a big problem. Of course, how to balance competition treasure balance and trade-offs. Clearly, if only one entity Hangzhou local bank, it is easy to become confined to a small town local business firms. The Internet Bank not only from the constraints of time, it can save a lot of costs. Laying traditional bank branches under the line requires a lot of manpower and financial input, the marginal cost of network banking operations but can be as small to close to zero. Banks had previously been estimated, a business through bank counters for the physical cost of about 3.06 yuan, and by the network to handle only needs 0.49 yuan, transaction cost savings can be substantial increase bank efficiency. Ali the second time to apply for bank back in 2009, Ma had to build the bank's Action Network. August 2009, Qingtian County, Zhejiang Province, Ma entrepreneurs in a forum on proposed use Alibaba e-commerce platform advantage, financial institutions can work together to form a network of banks. Before that, Ma has made this vision to support the Government in charge of the leadership of Zhejiang Province. According to informed sources, when the end of the year, the Zhejiang Provincial Government, China Construction Bank and Alibaba three parties to create network banks held talks and signed a memorandum of cooperation.
First Internet Bank to build Ali thus began. Until 2010, the China Banking Regulatory Commission also sent a special team of experts to research and demonstration site in Hangzhou, \u0026 ldquo; at that time we all thought was progressing well and should be able to be granted, but finally died. \u0026 Rdquo; said the aforementioned source said. This time the banks for Ali, head of the team prior to the preparation (chips) Chief Risk Officer Hu Xiaoming Ali small micro-financial services group, but the preparatory work of the bank's application have all been taken over by Yu Sheng law. Ali internet bank lending patterns and Ali small loan is very similar, the future is Ali Ali small loan banks directly into the arm, or take other modes of cooperation, Yu-sheng said the current law is inconclusive. In addition, the shareholder structure and now Cosplay Costumes for sale Ali Ali Bank small loans is also quite similar. On small loans Ali, Ali and universal already have several years of relatively smooth partnership, shareholders seem to appear in other private banks and the process of preparation and the struggle for power is not the phenomenon may not appear in Ali banks. According to China Banking Regulatory Commission approval, Alibaba and China Universal Holdings Limited will as a sponsor for the private banking license.
The three entities Ali small loan companies, two by Ali Baba and the establishment of a universal joint. Wherein, \u0026 ldquo; Chongqing Ali small loan \u0026 rdquo; the \u0026 ldquo; Ali financial holding \u0026 rdquo; and Ningbo Kim assets (Intime Group), Shanghai Fosun Industrial (Fosun Group), Universal Leasing (Wanxiang Group) co kanzaki h aria wigs investment created. Ali small loan company was founded as Zhejiang Alibaba small loan company, its shareholders are e-commerce company Alibaba, universal leasing. Although Ali Baba did not drink the soup on top of taste, or grab the top spot in Zhejiang Province, Wenzhou civil and commercial banks to squeeze the first bus. Zhejiang Banking Bureau, said the first pilot identified as Zhejiang, the Banking Bureau has repeatedly and Zhejiang Wenzhou government departments, the main sponsor and the proposed stake in the enterprise, outside consultants and other parties held talks on policy requirements, Operating location private bank, risk measures, regulatory thinking and other content communication and guidance, perfect to build the program.
After repeated communication, rigorous screening and examination, preparation programs in Civil and Commercial Bank of Wenzhou and review comments in mid-July formally submitted to the CBRC, and became one of the first private banks approved to build. After approved to build, according to relevant regulations, shall be 6 months (upon application, be extended for up to nine months), submit an application within the Banking sector. Next, focus on promoting Zhejiang banking regulatory bureaus opened preparatory work, including shares accounted for 10% of minority shareholders audit, \u0026 ldquo; three will be a layer of \u0026 rdquo; management structure set up, audit executives, internal control and other systems; by urging Wenzhou Civil and Commercial Bank of preparatory working group inverted schedule, clutching the key nodes, orderly arrangement, to promote the preparatory work carried out; and to strengthen the supervision of related party transactions and other dynamic tracking after it opened. Meanwhile, Zhejiang Alibaba CBRC will continue to guide the pilot to carry out private banks to build reporting.