The Implementation Of "Jingdong Ious" Is Just A Matter Of Not Buying Credit.

Last week, Jingdong announced its investment in data analysis firms ZestFinance, a start-up company founded by Google's former chief information officer. It used ZestFinance technology to analyze consumer data generated by Jingdong and score personal credit for users. Once you leave a mark on the Internet, you will never be forgotten, but you will not buy credit.

Xu Ling, director of consumer finance at Jingdong, told curiosity daily that the core competitiveness of consumer products such as Jingdong IOUS is risk rather than channel and sales. Cooperation with ZestFinance is part of Jingdong's construction of the credit reporting system. The so-called credit system is to develop a credit model to assess whether consumers are worthy of being trusted. In a system, credit management is used. If it is used outside the system, it is called credit reporting.

The cooperation between the two sides began as early as last year. When Xu Ling visited ZestFinance in the United States, he was somewhat skeptical about building a personal credit model using big data technology. To this end, after returning home, they set up a new project team, using the data of Jingdong to develop on the basis of the original model of the other party. JD.COM Test on your own product.

The result proves that the model is feasible and represents the future. Xu Ling said that the purpose of establishing a joint venture is to absorb ZestFinance's technical capability. Unlike traditional financial institutions, the personal credit model built by Jingdong is based not only on past consumption records and credit records, but also on social data and users' browsing paths on the Internet.

"For example, how can you compare the price of a product, how to search it, and ultimately do not buy it, which is no less important to us than the purchase record of a consumer." Xu Ling said that in order to build Jingdong's credit reporting system, they also found several technology companies at home and abroad. ZestFinance cooperation is only one of them.

Since 2014, the 2 month of 2014, the Jingdong's white line has been launched. Besides the Jingdong ious used in the shopping mall of Jingdong mall, Jingdong finance has launched some external derivatives such as renting IOUs, tourism IOUs, enterprise procurement, rural finance, Shoufu IOUs, integral management, and so on.

The promotion of white goods to consumption is obvious. According to the statistics of Jingdong, users who used white stripes increased their monthly orders by 52% over the 5 months before and after the use of white stripes, and the monthly consumption increased by 97%. Online credit checks make lending approval and payment as convenient as spending money in their own accounts. In short, they try to make it easier for users to spend more money.

For Jingdong, Ali and Suning, who have launched consumer financial products in the first half of this year, are not competitors, rather, they are not even competitors.

Xu Ling told curiosity daily that their biggest rivals are traditional concepts and backward products. Whether the cooperation organization is traditional financial background or Internet Co is not important. At present, the consumer finance team comes from the traditional financial industry, and 1/3 comes from people who focus on risk and risk control, and 1/3 comes from the internet background.

The next step in building personal credit system is perhaps more application scenarios. Alibaba's Sesame credit score is undoubtedly the best. Relying on more than 10 years of Taobao data and other data sources such as micro-blog, Alibaba is undoubtedly in front of other China Internet Corporation in analyzing its personal consumption ability.

　 Alibaba Under the sesame credit, the "sesame credit score" has been used to process visas and guarantee rent installments. Jingdong consumer finance is also planning to launch similar products, using "white heat" to measure the user's personal credit.

Whether Jingdong, Alibaba or recently launched " Willful payment Suning, in order to control risks and build personal credit reporting system, is still based on data.

The volume of data currently covered by Jingdong's consumer finance is not limited to data of Jingdong's electricity providers, including the financial data of Jingdong finance in the past two years, the record of public funding and the data paid by using Jingdong. Recently, it has invested in hungry fields, road cattle, Kingdee and other departments and hundreds of external data sources. These data have also been included in the data source of credit system analysis.

Next, you are shopping at Jingdong or Tmall, which may point directly to where the next loan comes from.