Home » Wang Zhe, CEO and Chief Information Officer of Hengtian Fund: Fintech empowers digital transformation of wealth management is inevitable | Daily Economic News

Wang Zhe, CEO and Chief Information Officer of Hengtian Fund: Fintech empowers digital transformation of wealth management is inevitable | Daily Economic News

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“The entire wealth management industry is ushering in an era of rapid growth.” On October 22, at the 2021 China Financial Development Forum hosted by the Daily Economic News, Wang Zhe, CEO and Chief Information Officer of Hengtian Fund, gave a keynote speech. He It is believed that the epidemic has played a role in promoting and accelerating the digitalization of the wealth management industry, and it has become an inevitable trend that financial technology empowers the digitalization of wealth management.

Wang Zhe said that Hengtian Wealth will build a professional investment research and investment advisory platform through big data and AI technology, integrate rich investment experience, and improve professional investment research, investment advisory and resource integration capabilities and efficiency (covering public equity, private equity, insurance, and overseas investment And other asset types), through a standardized service process, to provide customers with advanced professional family asset allocation services.

The development of financial technology has entered the 3.0 stage

Wang Zhe said in his speech “Fintech empowers the digital transformation of wealth management” that by the end of 2020, China’s wealth management scale has reached a trillion level, and it is expected to reach about 243 trillion yuan in 2023. The wealth management industry is ushering in an era of rapid growth.

He really feels that starting from 2020, under the impact of the epidemic, the wealth management industry has strongly increased its requirements for digitalization. Whether it is high-end customers or ordinary customers, there is a strong demand for online services including APP and WeChat. It will force the digital transformation of the entire wealth management industry.

Established in March 2011, Hengtian Wealth is an excellent high-end wealth management integrated service platform in China. The main shareholders are the listed company Jingwei Textile Machinery, an internationally renowned investment bank, and the integrated financial service group Zhongzhi Enterprise Group. Hengtian Wealth has 6,000 professionals and 4,000 elite financial planners. As of September 2021, it has allocated assets for more than 110,000 high-net-worth households and corporate clients.

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In the context of digital transformation, Hengtian Wealth has launched a “customer-centric, investment advisory driven” business model to promote the integration of financial technology and business, and create customer operations, products and services, investment research and investment consulting, and sales management. At the same time, it promotes the wealth management team, investment advisory team and product expert team to enhance professional service capabilities and professional wealth management capabilities. Wang Zhe revealed that the entire digital empowerment has entered the sprint stage.

In his speech, Wang Zhe reviewed the development of financial technology and divided it into three stages.

The 1.0 stage is the financial IT stage, which is mainly for the IT support department to systematize and automate the entire financial business process to improve business operation efficiency. At this stage, IT exists as a cost.

The 2.0 stage is the Internet finance stage. Financial companies build online operation platforms and online business platforms, freely combine assets, sales, payment, and capital, and interconnect them to provide customers with a better experience and lower operating costs. The main feature of this stage is the upgrading of the channel side, which provides the public with a richer wealth management entrustment channel. The more prominent ones are online funds such as Yu’ebao, online insurance and other products.

Stage 3.0 is to use big data, AI, cloud computing, blockchain and other technologies in the financial business field to deal with traditional manual inefficiencies faster and more efficiently in terms of financial business information sources, financial risk evaluation models, and investment pricing models. The pain points of operation have empowered finance and greatly improved financial efficiency.

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Create a one-stop solution through financial technology

According to Wang Zhe, the overall thinking of Hengtian Fortune’s financial technology empowerment is: the first stage is to liberate hands, solidify standards, and improve efficiency; the second stage to liberate the brain; the third stage to liberate the mind.

According to him, the first stage has basically been completed and is currently between the second and third stages. Regarding the liberation of the brain, the current technology department goes deep into business scenarios and optimizes traditional service business processes, which are mainly reflected in three aspects.

The first is to empower customer operations. Combining the overall business process and user habits of wealth management, from APP and WeChat, as well as its own service account and other channels that can reach users, push wealth management knowledge to users personally, including configuration plans, etc., to promote personalized operations .

The second is to collect and analyze data on customer preferences and other aspects, and then at the level of asset allocation products, obtain real-time customer experience of the product from pre-sales and after-sales, feedback which links have not achieved a good user experience, and quantitatively evaluate the product’s experience The advantages and disadvantages lay a solid digital foundation for improving the customer experience.

The third is to empower service. On the basis of the first and second stages, further optimize the care service model, refine the excellent care service process, and then comprehensively promote it, so as to improve the overall care service capability.

Regarding emancipating the mind, Wang Zhe said that through the use of new financial technology technologies, such as cloud computing capabilities such as data collection and data operations, internal resources will be gradually integrated. In addition, by collaborating with external parties, such as accounting, lawyers, medical and other industries, to attract partners to create a customer-centric one-stop solution, high-end customer groups and ordinary customer groups can enjoy various services of wealth management in one stop.

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From the perspective of the overall structure, Wang Zhe introduced that Hengtian Wealth has established four major platforms: customer management, investment research and investment consulting, sales management, and products. The future goal of Hengtian Wealth Management is to establish a professional investment research investment advisory platform through big data and AI technology, integrate rich investment experience, and improve professional investment research investment advisory and resource integration capabilities and efficiency (covering public equity, private equity, insurance, overseas Various asset types such as investment), through a standardized home office service process, to provide customers with advanced professional family asset allocation services.

At the same time, through new technologies and methods, we will dig deeper into the needs of customers, so as to provide professional, efficient, and uninterrupted customized asset allocation services with customers as the center. Through cloud platforms and services, integration of services covering investment, law, accounting, insurance, trust, medical care, education, etc., can efficiently integrate and utilize financial, human and social resources, and provide solutions for family affairs from a global and long-term perspective. Through blockchain, big data and data encryption technology, it can better meet the personalized and customized needs of high-end customers, and provide customers with more accurate, professional, and private services than traditional wealth management institutions or private banks.

Cover image source: Daily Economic News

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