Winning the new financial era

Chapter 182 Another Good Business

The total number of employees of Ruixiang Financial Technology Group has recently exceeded the 3000 mark. In order to adapt to the increasingly fierce competition in the Internet financial industry, the entire group ushered in the third round of major personnel organizational structure adjustments.

Five business groups including content advertising business group, mobile service business group, emerging technology business group, open technology business group, wealth management and consumer finance business group, and dozens of subsidiaries have been disrupted and reorganized.

Under the new organizational structure, Ruixiang Group will focus on customers and divide it into front, middle and back offices, among which:
Front desk: Refers to the function closest to the customer, the most understanding and insight into customer needs and behaviors, and finally realizing and enhancing customer value.

Its main work is: marketing and promotion, conversion and transaction.

Middle office: refers to the shared platform function that provides professional capabilities for front-end business operations and innovation.

Its core work: provide operational support for the front desk, including four major services including technology and business, data, and organization.

Backstage: Refers to providing the three functions of financial management, human resource management and collaborative office management for the entire front desk and middle desk.

After the division of structure, Zhongtai will become the largest and most important department of Sharpward Group.

In the original Ruixiang, each business group and each subsidiary had its own technicians and R&D personnel.

Now concentrate these people in the big and middle platforms, avoiding repeated wheel creation and waste of resources.

The technology center integrates various technical middleware and other capabilities, filters out technical details, and provides a simple, consistent, and easy-to-use capability interface of the application technology infrastructure to the front desk, business center, and data center.

The data center is to open up, integrate and analyze the data of all its products and subsidiaries, and output the valuable parts to the business center.

The business center is to extract the business modules for reuse. For example: the successful marketing strategy tested in the loan supermarket can be used in the wealth management supermarket and fund supermarket...

It is the successful path explored earlier, which can be reused in other products and businesses.

Organization middle office is a kind of "decentralization strategy", which can also be called internal entrepreneurship.

After a certain person or team within the company has contributed to certain requirements, they can mobilize the company's existing technical capabilities, user traffic and other resources to quickly try and make mistakes in new projects, and find new business directions for the company.

After the structural adjustment was completed, Zhang Yida issued an email "To All Employees", the content of which is as follows:

Foreground department: mainly establish a flexible, innovative and fast-response mechanism around C-end and B-end customers.

Established a platform operation business group, which has jurisdiction over 7 major financial supermarkets including banking, securities, foundation, insurance, credit, mutual financial management and loans, as well as business departments such as Ruixiang Forest and Ruixiang Manor.

Appoint Gu Panpan as general manager of the business group, senior vice president of the group, and report directly to CEO Lin Zhenyang.

The open technology business group has jurisdiction over business departments such as Mobao Payment, Mung Bean Credit, Tiance Technology, Ruixiang Super Brain, and Ruixiang Financial Cloud.

Appoint Xie Huaiyu as general manager of the business group and senior vice president of the group.

The mobile service business group has 365 independent apps including 4 Accounting Manager, Kawang Credit Card Manager, Diandianchou, and Jinniu Finance (formerly Investment Ronghui Finance).

Wang Lina was appointed as the general manager of the business group and the senior vice president of the group.

The consumer finance and wealth management business group has jurisdiction over businesses such as Yongbai, Daibai, Lingqianbao, Hantai Fund, and Hanzhou Securities.

Appoint Hong Haibo as general manager and senior vice president of the business group.

Established an overseas business group to manage multiple businesses such as industrial funds, R.Pay, and Grab.Pay.

Appoint Lan Lan as the general manager of the business group, concurrently as the group's CFO and senior vice president.

Middle-Taiwan Department: Form four middle-Taiwan divisions of technology, data, business, and organization.

The Technology Business Department is composed of the original business groups and subsidiary engineer teams.

Group CTO Zhou Feng served as the general manager of the business department and the senior vice president of the group.

The Data Business Department is formed by the merger of Emerging Technology Business Group and Guanghua Smart Financial Center.

Ren Yunfan will serve as the general manager of the business department and the senior vice president of the group.

……

After some adjustments, Ruixiang Group has formed a pattern of front, middle and back office, five major business groups + four major business divisions.

Rui Xiang made such a big adjustment, but he didn't hide it from the media reporters and colleagues who are all-pervasive.

Regarding Ruixiang’s move, the media praised: “In the domestic Internet industry, Weiruixiang has set a precedent for this.”

As a result, Jack Ma couldn't sit still anymore, and he also launched a vigorous structural adjustment within the Ahri Group.

When Jack Ma visited Supercell in 13, he was attracted by the other party's Chinese-Taiwanized structure.

Supercell has less than 400 employees, but has made a revenue of 5 million euros!

Relying on this set of "small front desk, big middle desk" structure,
In an atmosphere of elite culture, Supercell strives for employees not to be constrained by processes and management mechanisms, and to give each small team sufficient decision-making power.

And because resources are scarce, each small team can focus more on the resources in hand and choose to do the most important things.

After Jack Ma visited Supercell, he never attacked Ahri.

Now Ruixiang fired the first shot of reform, and Jack Ma followed up immediately.

……

"Mr. Zhang, I just came back, and you are giving me such a heavy burden."

In the chairman's office of Ruixiang Group, Lan Lan, who had just returned from Japan, South Korea, and India, learned that Zhang Yida had entrusted him with a heavy responsibility.

"The development of the overseas business group is the top priority of Ruixiang. You are the one with the most international vision in the group, so you have to shoulder this burden."

Zhang Yida said with a smile, he has repeatedly considered that the most suitable candidate in the group is Lan Lan, and Ruixiang Industrial Fund is targeting overseas, and it happens to hand over other overseas businesses to Lan Lan for management.

"Well, since Mr. Zhang trusts me so much, then I'll take the order!"

Lan Lan naturally knows the importance of overseas business groups, and she dies for her confidant, even though she knows it will be very hard and tiring, she must grit her teeth and persevere.

"After I returned to China, you and Lei Dongming visited three more countries. What do you think?"

Zhang Yida made a cup of tea for Lan Lan, and also made a cup for himself. After taking a sip of the tea, he asked again.

Lan Lan took a sip and said:
"In South Korea, the market is too small to produce too many unicorns, and the most popular areas are games and e-commerce.

After a general inspection, the group buying website Coupang, the game studio Bluehole, and the mobile advertising marketing company Yello Mobile,

Woowa Brothers, a food delivery company, L&P Cosmetics, a cosmetics company, Big Hit Entertainment, an entertainment brokerage company, and Viva Republica, a P2P lending company.

These companies were established relatively early, the earliest being Big Hit Entertainment, which was established in 05.

Several other companies were also established around 10-11 years ago.

Now that the scale has been established, and basically all of them have entered the mature stage, it will cost at least tens of millions of dollars to invest in and get more than 5% of the shares.

Viva Republica, a P2P online lending company, was established later in 2013. Its valuation is relatively low, probably between 1 and 2 million US dollars.

I think this company is not bad, and the valuation is relatively low, so it is worth investing in.

At present, in addition to the P2P online lending business, they are also launching a P2P transfer platform Toss, which aims to simplify domestic mobile P2P fund transfer services in South Korea.

The domestic online banking infrastructure in South Korea is relatively backward, and the processing of business is very cumbersome and complicated.

To transfer 1 won (about 10 U.S. dollars), it is necessary to enter the password 5 times and click 37 times, and every time the user uses online banking services, he is also required to install various "inexplicable" plug-ins.

The Toss platform hopes to solve the pain points of this industry and simplify the original tedious online transfer process into three steps:

The user enters the payee's name and phone number or bank account number, and then enters the transfer amount and password. After one verification, the money can be transferred to the payee's account immediately.

I think the transfer platform they launched can really solve the pain points of users as they said, and it will definitely become popular in Korea and attract a large number of users to register.

Therefore, I judge that this company still has certain investment value. "

"Are the banks in South Korea so bad? In our domestic mobile banking, you can also enter your mobile phone number or bank card number, and transfer the money if you have the amount.

This kind of technology, let their country become a leading technology? "

Zhang Yida knows that South Korea's games are doing pretty well, and the industry is huge. The Bluehole studio that Lan Lan just mentioned is called Bluehole in China. In two years, a chicken-eating game will be developed, which will become popular all over the world.

"That's right! Don't look at their country as a developed country. It is inferior to our country in many aspects."

Lan Lan thinks that apart from TV dramas and movies, South Korea is not so good in other aspects.

"Well, when you submit the information of these companies, I'll take a look and evaluate them."

Zhang Yida just wanted to see what the current valuations of these companies were. If they were too expensive, he would give up. If the valuations were still low, he would go in and take a hole.

"As for RB, I looked at it and think they can't be a unicorn company for two reasons.

First, there are few investment companies, and the threshold for listing on the Tokyo Stock Exchange is low. Many companies have gone to the public market to raise funds before their valuations have risen.

Second, RB’s entrepreneurial environment is very harsh, with labor and talent shortages, high taxes, rising rent and equipment costs, and entrepreneurship has lost interest for young people. "

When mentioning RB, Lan Lan felt that the trip was completely in vain. There were too many established companies, which completely blocked the upward path of young people.

Zhang Yida nodded. It is true that except for the richest man Sun, RB has not heard of any powerful Internet and technology entrepreneurs for many years.

"Let's talk about India! With such a large population in India, I think there are still many opportunities. Currently, e-commerce and mobile payment are very popular there.

In addition to Ali's shot, Penguin has also begun to make moves in India.

In addition, I met several waves of Chinese colleagues who came to India for inspection.

Mr. Zhang, I think we have to act quickly.Otherwise, good companies will be snatched away. "

Lan Lan was more anxious than Zhang Yida, and began to suggest.

"I also met a Chinese colleague? What a coincidence? It seems that we really have to hurry up."

Zhang Yida recalled that in his previous life, half of the 30 or so unicorns in India were invested or controlled by Ari and Penguin.

Such a good business, Ruixiang must also join in.

(End of this chapter)