From Ruixing, ofo, how to eliminate the arithmetic problem of human nature？
From Ruixing, ofo, how to eliminate the arithmetic problem of “human nature”?
Recently, in order to speculate on the concept of high-growth capital, Ruixing Coffee, the “light of domestic products”, falsely traded 2.2 billion, and fell into the “financial fraud” door.But on the day Ruixing feared a 75% plunge, it ushered in a new peak in single-day sales.The author finds that most people pay attention to “Can Ruixing’s wool still succumb?”This scenery and now when talking about ofo” When is the 99 deposit refunded? “”How similar.For this set of “burning money” and “horse race”, the way to quickly make it bigger, some people associate the small blue cup with the small yellow car that has been “buried in the loess”.The author sees more consumer finance customers-holding a small blue cup, riding the “human nature” portrait of ofo ordinary people.To really do good consumer finance, it must be to face these ordinary people, and it is necessary to do a good job on the arithmetic problem of “humanity”.The pie that Internet Finance once painted is the savage development of Internet finance in the early days of its own business model. Like Ruixing and ofo, it belongs to the future of sketching a pie. It does not pay attention to whether it can make money.一方面，它们曾利用普通老百姓的人性，“给你高息收益、给你各种云里雾里的‘增信’，让你买的‘踏实’‘放心’”，但却直接导致自身居High capital costs.At the same time, they have also frantically found assets, acquired various asset terminals in a pie-style manner, and developed various franchisees.Helpless, fragile and flowery risk control ability is a surge of bad debts.So I had to keep “adding more water to the noodles and adding more water to the noodles” until I couldn’t continue.This is of course catering to the love of capital for scale expansion and expansion, but the use of “human nature” will eventually be destroyed by “human nature”.In addition to scale and performance, it is the rush of death of its own business model.Regardless of the final conclusion of the coffin, the author believes that the brutal development of Internet finance has actually learned the basics of China’s online consumer finance customer base. This demand has become a real existence and has formed an online customer acquisition.And risk control, the necessary data accumulation after loan management, ran out of some realistic and operable risk control models.Adam?Smith once said: “Our dinner does not come from the favor of butchers, winemakers and bakers, but from their achievements in their own interests.”Butchers, winemakers, and bakers have created rich commodities for their own benefit rather than the public interest, but they need to satisfy their needs to gain their own benefits.The success of any business model is actually based on a deep understanding of “human nature”.Ruixing, ofo and the once savage Internet finance have sounded the alarm for the current development of licensed consumer finance companies.How to choose the development path of consumer finance due to the disloyalty of customer groups, the homogeneity of funds?Fortunately, the current development of the consumer finance industry is relatively rational, and it no longer simply runs the enclosure and begins to highlight the sustainability of development.Therefore, we see that in 2019, Huarong Consumer Fund with a net profit of 200 million, three shareholders refused to increase capital; and China Merchants Consumer Finance, which has outstanding profitability, frequently received capital increase from shareholders.Making money has become a pragmatic choice for consumer finance.However, financial capital itself is homogenized, and borrowers are not loyal. The challenge facing the consumer finance industry is how to maintain their relationships carefully.The disloyalty of the customer group is reflected in the endless stream of old lai and delinquent means.The high efficiency and “fighting wisdom” of the indicators have become an essential skill for consumer finance institutions, thus posing challenges to operations.The disloyalty of the guest group is also reflected in the excessive number of people watching each other.Seeing the debt evasion of people around them, some people may choose to “wait”. “Maybe consumer finance companies can’t hold up and go bankrupt, so they don’t have to repay the money.” This has nothing to do with morality, just human nature.Therefore, cracking down on debt evasion has always been an important expense in operating costs of consumer finance.Some ofo’s defeated experience of going out of campus must also incorporate consumer finance companies’ awareness of their own ability circle under the constraints of human nature.The closed-loop scenario combined with the industry chain is what most consumer finance companies are already doing or trying to do.The closed loop of the scene is like a closed management campus. Moral discipline in the campus virtually restrains everyone.However, while the closed-loop scenario brings security, it also brings about the lack of business growth, which requires consumer finance companies to restrain their desire and impulse to “re-scale”.The author also hosted the translation of Muhammad, the originator of Xiaodai.Yunus’ “Inclusive Finance Changes the World”, in which Mr. Yunus introduced his experience in overcoming “humanity”: will develop each shareholder into a depositor and shareholder of Grameen Bank, letting borrowingPeople’s representatives entered the board of directors, forming a new mechanism of “borrower-depositor-shareholder” three-in-one interest binding, which achieved Grameen Bank’s repayment rate of up to 99%.For the consumer finance industry, before planning how to make it bigger and stronger, it is time to do a good job of the arithmetic problem of “humanity”.Author: Chen Southwest University of Finance and Economics, deputy director of inclusive finance and financial intelligence research center proofreading Liu Baoqing