Source: Securities Daily
Editor's Note: The original title was "KPMG Report: China's FinTech Will Enter the 2.0 Era"
On January 17, KPMG released the report "50 Leading Fintech Companies in China" (hereinafter referred to as the report). The report analyzes and introduces the companies on the list of the 50 leading fintech companies in 2019. This year's list KPMG conducted months of intense evaluation on companies from five dimensions: technology and data, innovation and change, the popularity of financial services, capital / market recognition, and development perspective. KPMG has independently developed the Enterprise Insight Model (SIP), which quantitatively evaluates companies from multiple dimensions, including team, technology, product, market, and financing.
- CSI: The most significant application of blockchain in the securities industry is the promotion of ABS business
- Blockchain Economic Panorama and Future: Fintech Evolution Engine (Part 2)
KPMG ’s Asia Pacific and China Chairman Tao Kuangchun said, “Through insights into the global and Chinese markets, fintech and technology are driving the continued development of new financial service models around the world. In the current era, technology is booming, with cloud computing, artificial intelligence, Technologies such as blockchain, big data, and mobile Internet have begun to be widely used in various fields of financial services, promoting the application of technology in various fields such as intelligent risk control, intelligent insurance, intelligent investment research, intelligent customer service, and intelligent compliance. Upgrade and development. We are optimistic that the development and application of science and technology will continue to promote the improvement of the business model of the financial services industry and the improvement of the ability to supply financial services that are conducive to people's livelihood. "
The report believes that the "FinTech Development Plan (2019-2021)" will promote China's fintech development from the 1.0 era to the 2.0 era. The development of fintech in the 1.0 era is demand-driven, while the development of fintech in the 2.0 era is a supply-driven after reform and improvement of the fintech management system and underlying infrastructure. By establishing and improving the "four beams and eight pillars" of China's fintech development, relying on sound laws and regulations, perfect risk prevention capabilities, enhanced basic support capabilities, and management tools such as the regulatory sandbox, fintech standardization and certification, to promote defensive innovation in fintech Respect the laws of finance, ensure that fintech serves the economy legally and compliantly to achieve inclusive benefits, and at the same time provide fintech companies with the reasonable and legal supply of resources required for innovative applications, help them to reach the market quickly, and promote real finance Scientific and technological innovation, and promote China's financial technology to continue to maintain international leadership.
Simon Gleave, KPMG's Asia Pacific financial management partner, said: "China's fintech is developing rapidly and has a leading position in the world. From an international perspective, traditional international financial centers are catching up and seeking to accelerate fintech development through a series of measures. In order to maintain the leading international financial center status, for China's financial industry, challenges and opportunities coexist. In order to maintain China's leading position in the fintech field, fintech companies must first carry out a reasonable and sustainable Innovation requires the understanding of technological capabilities and limitations, consideration of scenarios and user experience, the pursuit of moderate artificial intelligence applications, and continuous innovation and breakthroughs through continuous iterations and breakthroughs in technology and applications. "
Wang Dapeng, KPMG China's fintech partner, said: "The fintech ecosystem is characterized by layers and diversification. Leading companies have emerged. They rely on their own technological advantages or customer base advantages to become financial service providers in the entire field. And have a strong ability to continue investing and acquiring new fintech companies; many early fintech companies explored financial service gaps and pain points, focused on segmenting the track, and continued to develop in depth; traditional technology companies rely on their own Technology accelerates the fintech layout; traditional financial institutions rely on their traditional customer base advantages, in-depth understanding of finance, and very strong technical infrastructure to accelerate catch-up. Leading and start-ups, financial institutions and technology companies, diversification and focus, applications Coexisting with technology, highly innovative and dynamic fintech ecological characteristics. "
The report also pointed out that Chinese fintech companies should continue to pay attention to user needs. Taking retail customer demand as an example, each stage of its life cycle has gradual demand for financial services such as payments, digital credit, wealth management, and life insurance. Mobile payment is currently the most successful in fintech, but it is not completely without service friction. In fact, there are many pain points in other fields that need to be solved by scientific and technological means. Similarly, some financial services needs of enterprises, such as treasury, cash management and trade financing, also have much room for fintech to play.
"Securities Daily" reporter learned that KPMG has been committed to promoting the healthy growth of China's fintech sector and providing support for the further development of China's fintech industry. Launch of China's Leading Fintech 50 Enterprise Selection Campaign, which aims to strengthen the market's attention to technological innovation in the financial sector, promote industry exchanges, and promote the standardized development of financial technology.