The opening and Cooperation of Internet Finance in Rural areas lead the Future

Recently, the people's Bank of China and other ten ministries and commissions issued the "guidance on promoting the healthy Development of Internet Finance" (hereinafter referred to as "opinions"), which rectifies the name of Internet finance and provides a guarantee for its survival of the fittest and innovative development.

At present, the main reasons for the slow development of rural finance lie in the following two aspects: first, for financial institutions, the risk control mode of rural micro-loans is the same as that of commercial banks for industrial and commercial enterprises. there is not much difference in operating procedures and costs between operating a loan of 100000 yuan and operating a loan of 1 billion yuan, so banks are unwilling to do microcredit. In addition, farmers lack loan collateral. It is difficult to meet the risk control requirements of banks. Second, for farmers, the traditional financial institutions have high loan interest rates and cumbersome procedures, which can not meet the loan needs of small amount and high frequency, and the traditional financial institutions have few outlets in rural areas, traditional work style, and the service effect is not ideal.

In fact, according to the experience of India and Bangladesh, and the conclusion of Professor Mao Yushi's survey in Shanxi and other places, the credit of farmers is very good, the bad debt rate is less than 3%, and rural finance has great potential for development. At present, Internet enterprises that see its huge market space have joined this blue ocean one after another, and the service transformation of traditional rural financial institutions Brooks no delay.

Due to the characteristics of the Internet, Internet + Finance can easily make up for the lack of rural outlets and financial services of financial institutions, but the Internet itself can not automatically meet the requirements of the bank risk control system. How to solve the problem of risk control of capital lending, relying on the banking system itself is basically unsolvable, only openness and cooperation is the key to solve the problem!

At present, there are mainly three types of service enterprises for agriculture, rural areas and farmers in society, including service providers for agriculture, rural areas and farmers represented by Village Music, Great Beinong, New Hope and Nuopxin, e-commerce enterprises represented by one mu of farmland, Huinong Network, JD.com and Taobao, Internet financial enterprises represented by Yixin, Ant Financial Services Group, Kaixin loan and Yilong loan, which have been deeply rooted in the fields of rural production, circulation and consumption for many years. Accumulated a large amount of peasant household transaction data. These data have now become an important asset of the enterprise-big data resources.

For rural financial institutions, under the circumstances that their own data are not enough to support the requirements of farmers' credit evaluation, and the cost of each loan is too high to be borne by offline manual verification, seeking external data to support the establishment of Internet credit evaluation mechanism is the solution to the problem, that is, through the connection of the Internet, the separation of funds and credit can be formed to achieve another socialized division of labor in the field of rural finance.

Take Dabei Nong Group as an example, the "Agricultural Bank loan" provided by it is a high-quality rural Internet financial product with the separation of capital and credit. Dabinong is a famous agricultural high-tech enterprise in China, which constructs the most complete pig breeding service ecosystem in China, providing all-round closed-loop services, including feed, animal protection, vaccine, breeding pig, biological feed, seed industry, plant protection and so on. and with the help of Nongxinyun and Nongxin Mall to collect all kinds of user electronic transaction data to form user big data resources, so as to build a user credit evaluation system. Agricultural Bank loan is an Internet financial product launched under this background. based on customers' transaction data and accumulated credit, it cooperates with financial institutions such as Everbright Bank, Guangfa Bank and China Merchants Bank, and is funded by financial institutions. Dabei Nong provides customers and customer credit assessment, and requires customer loans to be used for specified purposes and paid to designated suppliers. As a result, the financial product is also controlled in a closed loop, the loan risk is controlled, and finally the two sides share the loan income. The model of "agricultural bank loan" provides an excellent case in which the service enterprises of agriculture, rural areas and farmers provide financial services and separate capital from credit.

In addition, there are currently the hottest Ali online Merchant Bank and Tencent WeBank, which also claim that they do not absorb deposits, but position themselves as a connecting platform through high cooperation with the same industry. carry out credit services based on big data resources accumulated by their own system to connect financial institutions with small and micro enterprises or individuals. Take Ali as an example, Ali Group is widely distributed in various industries with the pattern of "everything related to me". Its investment territory spans cultural entertainment, IT technology, e-commerce, mobile social networking, logistics, O2O, financial services and other fields, involving more than 70 enterprise groups. it can be said that it is difficult for any individual in society not to have a "relationship" with Ali, and once connected with it, it will produce the accumulation of data and credit. Therefore, it can be imagined that the Internet Merchant Bank will become a social connector and credit center in the future, through which any bank can find any individual with capital needs, thus forming a force to change the social and financial pattern.

In the future, it is hoped that financial institutions can cooperate more with agriculture, rural areas and farmers service enterprises, open their respective data, and cooperate to carry out big data analysis to form more comprehensive results of user credit analysis, so that large-scale agriculture-related service enterprises can become a professional credit production platform. Rural financial institutions, as professional capital operators, both sides jointly develop the rural financial market, not only to meet the needs of national financial poverty alleviation, but also to meet the needs of enterprises to make profits. In this regard, one mu of land and the Postal savings Bank of China, the cooperation between Dabinong and Everbright Bank and China Merchants Bank has explored a more successful model.