On October 25th, the 2023 JD Supply Chain Financial Technology Conference was held in Beijing. At the meeting, JD Technology launched the "four integrations" strategic direction of supply chain finance technology, namely the integration of infield+outfield, technology+finance, upstream+downstream, and B-end+C-end. Looking ahead to the next decade, JD Supply Chain Finance Technology will continue to provide products and services for the physical industry, including supply chain finance, payment technology, and consumer finance, promoting the integration and development of the industrial internet and consumer internet, and helping the physical industry build high-quality production capacity. Based on the anchoring of the "four integrations" strategic direction, JD Supply Chain Financial Technology has also launched multiple products such as the JD Enterprise Finance App and the Gold Pivot System of the funding platform, providing more comprehensive and high-quality services to hundreds of core enterprises, as well as millions of small and micro enterprises upstream and downstream of the industrial chain.
Ten years to sharpen a sword
Moving from JD Supply Chain to Industrial Supply Chain
JD Supply Chain Financial Technology has been serving JD's internal market for ten years since 2013. Based on the strength of JD's internal market, it has now established a complete full chain, full scenario product system and operation system. For example, Jingbaobei serves as a self operated supplier to assist in better stocking and shipping; Logistics finance assists merchants in obtaining financing support during the warehousing stage; Jingxiaodai serves JD POP merchants to facilitate their access to financing; Enterprise gold mining meets the settlement and flexible accounting requirements of various enterprise procurement processes; Payment technology and digital RMB provide payment and settlement services for JD and all merchants; Consumer finance provides businesses with a series of growth services such as expanding user volume, increasing user stickiness, increasing customer unit price, and comprehensive sales.
In the hot launch of JD 11.11, JD Supply Chain Financial Technology launched an independent JD Enterprise Finance App, which aggregates full chain products and provides "multiple, fast, good, and economical" ultimate smooth financing services to industry partners, including small and medium-sized enterprises. For example, the upgraded Jingbaobei's new non recourse model has helped merchants quickly recover sales funds; Jingxiaodai has launched a large credit loan service for its top customers, with a maximum credit limit of up to 10 million yuan; The introduction of external third-party cooperative warehouses in movable property financing has enabled goods to be "loaned upon entry" in third-party logistics warehouses, further expanding service coverage.
Over the past decade, JD Supply Chain Financial Technology has gradually moved towards the external industry chain based on its ecological insider business, and has been implemented in fields such as pan retail, pan internet, large manufacturing, energy and chemical engineering, transportation and logistics, bulk supply chain, and new energy.
Aim towards the next decade
Release the strategic direction of supply chain finance technology's "four integrations"
The head of JD Technology's Financial Technology Business Unit pointed out at the meeting that with the increasing interdependence between upstream and downstream enterprises in the supply chain, the digitization of business processes, the interweaving of different industrial chains becoming more complex, and the supply chain becoming more agile in responding to changes in market demand, the supply chain financial ecosystem has also entered the golden development period of the next decade. The demand for supply chain fintech from various industries is also changing. How to leverage multiple ecological forces to achieve supply chain finance with "more transparent service links, more specialized industry insights, more connected platform links, and more refined platform operations", fully coordinating the "limited supply" on the finance and technology side with the "unlimited demand" on the industry side, is precisely the opportunity for JD Supply Chain Finance Technology to innovate and develop in the new situation. Based on this, JD Supply Chain Financial Technology has officially released the "four integration" strategic direction, namely the integration of infield+outfield, technology+finance, upstream+downstream, and B-end+C-end.
The integration of "infield+outfield" refers to continuing to deepen and penetrate JD's infield, and innovating more products that better match demand. Based on the "dual chain linkage" strategy proposed last year, JD Supply Chain Financial Technology has actually achieved scale in multiple industries. In the future, JD Supply Chain Financial Technology will continue to deepen the integration of internal and external fields, extending naturally from the JD field to the core enterprise's own field, and also extending from the core enterprise's own field to the JD field.
The integration of "technology+finance" refers to the use of technological capabilities to effectively connect finance and industry information, and fully stimulate the service potential of financial institutions. The JD Supply Chain Financial Technology Platform has landed dozens of industrial chains in the past year, with rapid growth in financing scale and low credit risk. It has verified the feasibility and necessity of the "technology+finance" model. In the future, we need to continuously improve our product experience and operational capabilities, and provide comprehensive financial services for more industrial chains.
The integration of "upstream+downstream" is to strengthen in-depth research on different industries, combine the actual operational characteristics and scenario needs of customers, provide refined insights and management of industry laws and needs, and provide professional solutions that run through the upstream and downstream for different types of industry customers, with more targeted and adaptable, achieving "one chain, one policy" or even "one enterprise, one policy". This integrated service of upstream and downstream products can form positive feedback from each other, improving the overall operational efficiency and financial efficiency of the supply chain.
The integration of 'B+C' refers to connecting the underlying data and providing a highly integrated B+C solution that includes supply chain finance, payment technology, and consumer finance. By creating the leverage effect of terminal consumption through payment and consumer finance, we can solve the problem of the last mile of commodity sales, achieve demand driven supply, supply driven demand, and improve the overall efficiency of the supply chain, truly achieving full chain, end-to-end financial services for B2B2C.
Upgrade and release multiple products
Full link, connected service industry chain
Based on the anchoring of the "four integrations" strategic direction, JD Technology has upgraded and released numerous products this time, providing more comprehensive and high-quality services to hundreds of core enterprises, as well as millions of small and micro enterprises upstream and downstream of the industrial chain.
In terms of the supply chain finance aggregation service platform, JD Technology has launched an independent JD Enterprise Finance App to create a safe and reliable enterprise finance service platform, covering diversified financing products upstream and downstream of the supply chain. The system recommends products based on role matching, directly meeting the core needs of financing customers. At the same time, it has also achieved unified management of customer financing accounts. In terms of specific products, Beijing Baobei has added a "no recourse factoring" model, added third-party logistics warehouse financing for movable property financing, added 10 million large value products for Beijing Small Loan, and added small leasing for financing leasing.
In terms of upgrading the supply chain financial technology platform, JD Technology has upgraded and launched the financial platform Jinzhu system, which serves as a hub for connecting asset and capital ends, based on the "Top Ten Supply Chain Financial Business Systems+Top Ten Digital Intelligence Supply Chain Service Systems" and the "Double Ten Model" and Lite version, combined with the actual needs of customers in different industries. The Jinshu system can collaborate with JD operations, core enterprises or ecological partners, financing customers, etc. in the cloud through the minimalist mode of data interface, achieving automatic intelligent dynamic matching between financing customers and funding parties. On the one hand, it helps the industry to obtain more diverse funding sources at a low cost, and on the other hand, it efficiently matches suitable assets for banks, trust companies, factoring companies and other investors.
In terms of payment technology, JD Technology provides industrial customers with a "cost reduction trilogy" in the payment process, assisting them in establishing an independent and controllable payment system. For example, in the short term, by aggregating payments, more accurately matching enterprise business models and scenarios, optimizing payment tool combinations, and reducing merchant payment transaction costs; In the medium term, combined with the technological accumulation of JD Payment Technology and the supply chain resources of hundreds of banks, we will help merchants establish independent and controllable bank card payment cashiers; In the long run, combining JD's best practices in the field, we will output a combination of refined marketing solutions to assist merchants in increasing the proportion of autonomous payment tools on their own cash registers, thereby ensuring the long-term sustainability of cost reduction effects.
In terms of consumer finance, JD Technology has released a "four-dimensional link" consumer finance solution for industrial terminals, using products such as credit installment and credit payment, combined with rich marketing tools, growth strategies, and field traffic supply, to promote multi-party links between brand merchants, retail merchants, small and micro merchants, financial institutions, and consumers, and connect the last mile of the supply chain. Based on consumer finance solutions, help brand and retail merchants improve operational efficiency, effectively promote sales conversion, and also provide consumers with more inclusive services; At the same time, it also creates an ecosystem of cooperation between financial institutions and merchants, linking the demands of the industry and financial institutions.
Supply chain finance technology connects both the industrial internet and the consumer internet, and also connects millions of small and medium-sized enterprises upstream and downstream of the industrial chain. The "first move" of implementing supply chain financial technology can drive the coordinated development of upstream and downstream industries in the industrial chain, forming a "strong magnetic field" for high-quality development of the real economy. JD Supply Chain Financial Technology will use digital intelligence technology to link financial institutions, industrial platforms, industry organizations, and ecological partners under the strategic direction of "four integrations", to assist in the high-quality development of the physical industry. (CIS)
转播
