JD Finance creates a "second growth scenario" for financial institutions to reshape growth through digitalization

On August 17, JD Finance, the personal financial business brand of JD Digital Technology Group, announced a number of major upgrades, including a new logo and the appointment of its first brand spokesperson, Xu Zheng, and released its brand proposition: a friend who understands finance! In terms of positioning, JD Finance is essentially an open platform that connects financial institutions and financial users, serving as a "financial decision-making platform" for users and a "second growth scenario" for financial institutions, using the power of technology to allow everyone to face finance more equally.

"Financial Decision-making Platform" covers the entire process of user decision-making chain

According to a user survey conducted by iResearch Consulting, current users' concerns about financial service platforms are mainly concentrated on the two major issues of "security" and "professionalism". The high thresholds and high barriers in the financial field have put many users in a "knowledge disadvantage" and "identity disadvantage". When making financial decisions, they often face the difficulties of "high knowledge threshold, high selection cost, and high decision-making risk".

JD Finance aims to be users’ “friend who understands finance”, that is, to become users’ “financial decision-making platform”, providing users with advice, guidance, assistance and protection throughout the entire decision-making chain, helping users make better financial decisions.

First of all, JD Finance provides users with a vast selection of products. JD Finance has launched nearly 10,000 financial products in cooperation with nearly 1,000 licensed financial institutions, including Industrial and Commercial Bank of China, China Construction Bank, China Merchants Bank, E Fund, China Asset Management, Southern Fund, Ping An Insurance, PICC, Taikang Insurance, CITIC Securities, CITIC Construction Investment, Essence Securities, covering four major business sectors: wealth management, lending, insurance, and installment.

At the same time, JD Finance also provides users with the choice of products from offline financial institutions. JD Finance has set up an exclusive official store for financial institutions - "Golden Shop", where users can learn about and choose products from offline financial institutions online, and directly choose the nearest offline outlet to make an appointment. Licensed financial institutions and their branches, branch outlets of institutions, and even practitioners such as bank account managers, fund managers, and insurance personal agents can also provide investors education to users through live broadcasts, videos, and articles, helping users make personal financial decisions in a comprehensive, efficient, and low-cost manner. Currently, JD Finance is negotiating with a total of 230,000 financial institutions and practitioners on the settlement plan, which is expected to be completed by the end of the year.

JD Finance "Gold Shop" interface

In addition to launching numerous products online, JD Finance will also provide users with the ability to screen and match financial products that suit their personal risk preferences and risk tolerance in accordance with the principle of financial suitability and based on digital technology capabilities such as cloud computing, big data, and artificial intelligence, helping to reduce users' selection time and improve decision-making efficiency.

For example, JD Finance has joined hands with the top fund companies such as E Fund, Bosera Fund, China Asset Management, GF Fund, Southern Fund, Harvest Fund, China Universal Asset Management, and Fullgoal Fund, as well as their top star fund managers, to provide users with intelligent product search results, matching and displaying appropriate fund products according to the user's risk level. Intelligent customer service will also provide users with 365 days of uninterrupted customized content support, such as position health analysis and fund diagnosis.

Based on the understanding of users and insights into their needs, JD Finance can also work with financial institutions to customize more suitable products and services for users. For example, JD Finance and China Life Property Insurance launched a short-term million-dollar medical insurance "Super Medical Insurance" with a minimum deductible of 5,000 yuan. The minimum daily cost is less than 1 yuan to enjoy a 6 million yuan insured amount, and ordinary outpatient (emergency) reimbursement can be added to ease the pressure of daily medical expenses for families. In case of difficulties such as long queues, high costs, and difficulty in buying medicines for major disease diagnosis and treatment, 8 additional value-added services can be set up to fully solve users' worries.

As a friend of users, JD Finance accompanies users throughout their growth. Relying on the high-quality resources accumulated in the financial field over the years, JD Finance has created a content sharing section "Peanut Community", inviting 500 financial big Vs including economists, fund managers, investment managers, financial analysts, actuaries, and pan-financial KOLs to join. Through interactive content forms such as pictures, short videos, Q&A, live broadcasts, and circles, it shares with users content including pan-financial information, financial product analysis, insurance product introductions, and personal investment experience sharing, to help users learn financial knowledge and understand financial product information.

In addition, on the JD Finance platform, users can also search and view information on nearly 60,000 financial products on the market in the entire network product library, including product information and other users' comments, so as to obtain decision-making references. Users can also compare and score financial products to provide decision-making references for others. In other words, on the JD Finance App, users can interact through Dianping, and achieve a closed-loop experience of querying, evaluating and purchasing financial products through one platform, thereby improving decision-making efficiency.

Create a "second growth scenario" for financial institutions and reshape growth through digitalization

JD Finance is also a trustworthy "friend" of financial institutions, the real providers of financial services. In the eyes of JD Finance, the outlets, online banking and mobile banking apps of financial institutions themselves are the first scenarios and "first growth scenarios" for serving users. JD Finance, as an open platform, can help financial institutions reshape growth by relying on digital technology, becoming the "second growth scenario" for financial institutions and helping them create triple growth value.

The first layer of value is that JD Finance is a huge scenario for high-quality users. As of now, JD Finance has 400 million real-name users, mainly concentrated in first- and second-tier cities. These users are the main consumer groups at present, and they have the ability and need to use financial tools to arrange all aspects of their own and family life.

Based on such a scenario, financial institutions can provide services to these users on the one hand, and on the other hand, they can use the various user rights and services of the JD Finance App to activate old users and strengthen user stickiness.

The second layer of value is that as an open platform, JD Finance can provide financial institutions with the necessary digital operation tools, including intelligent big data platforms, digital marketing platforms, smart investment advisory tools, live broadcast tools, etc., to help financial institutions build their own digital marketing and operation capabilities, thereby achieving rapid business growth.

For example, financial institutions can use "Golden Shop" to achieve integrated online and offline services, improve user reach and service experience, and accumulate their own brand assets; the intelligent reach system in the digital marketing platform can achieve unified management of message reach to individual users, and diversify the reach methods; intelligent risk control technology can provide financial institutions with a basis for risk control. JD Finance has established a comprehensive risk management system covering data, models, strategies, systems, etc. It has more than 1,000 risk models, accumulated risk strategies of more than 40,000, and the fraud loss rate is maintained below one in a million.

The third layer of value is that financial institutions can replicate the customer operation experience and product matching capabilities accumulated from operating on the JD Finance App to their own digital scenarios and other third-party scenarios, and expand into multiple scenarios, thereby continuing to increase the total user scale and fundamentally improving growth capabilities.

"A friend who understands finance" allows everyone to face finance more equally

The biggest advantage of technology is that it can improve efficiency while reducing information asymmetry. In the financial field, big data, artificial intelligence and other technological means will also help build a new financial ecosystem. JD Finance hopes that with the power of technology, everyone will face finance more equally.

To this end, JD Finance relies on its three core capabilities of platformization, intelligence and contentization to provide support for every link in the user's personal financial decision-making chain and reduce the user's financial decision-making costs; at the same time, it uses digital technology to help financial institutions reshape growth and become the "second growth scenario" for financial institutions. JD Finance connects users and financial institutions and becomes a trustworthy "friend who understands finance."