Discussion On Operation Mode And Effect Of Supply Chain Finance Service For Fintech Companies

Small and micro enterprises have always been an important part of China's economy and play an important role in promoting economic growth and employment.However,due to their disadvantages in financing channels,financing costs and financial support,these enterprises are still faced with the financing dilemma of "difficult and expensive financing",which restricts their growth.As for themselves,first of all,their organization scale is small and they lack sufficient asset-backed mortgage financing.Secondly,its financial management level is backward,its financial information is opaque,and its credit level is low.Compared with large state-owned enterprises and listed enterprises,traditional financial institutions such as banks do not have the same loan cost and expected return.With the rapid development of manufacturing industry,logistics industry and Internet technology,and at the same time,the state also provides continuous support in the level of inclusive financial services policy,the big data financing platform based on the supply chain came into being.In 2013,JD Digits began to deploy its supply chain finance business by relying on the massive resources of e-commerce platform.It has achieved good results in product design,risk management,technology output and other aspects,which has played a good role in business-related enterprises and promoted the overall benefit maximization of the supply chain.As a representative case in the industry,the study of JD Digits supply chain financial service operation mode can provide reference experience for enterprises that are expanding the same business now and in the future,which is of great significance for improving the inclusive financial service mode and realizing the social and commercial value of enterprises.This article mainly adopts the method of combining theory with case analysis.Based on the analysis of the premise of a large number of literature at home and abroad for reference,from the theoretical level combining the theory of supply chain management theory,information asymmetry and transaction cost theory,analysis of JD Digits for company development process,and the reason of supply chain finance from credit,financial services products,risk control to discuss its operation mode,and to evaluate its effect from various angles.In terms of development drivers,this article analyzes and sorts out three drivers: weakening the information asymmetry in the supply chain,reducing the financing cost of small and micro enterprises in the supply chain,and exploring the operation module under the new economic situationof e-commerce.In terms of operation mode,according to different customers and types of mortgages,four types of "Jingbaobei","Jingxiaodai",chattel financing and "Qiyejincai" are introduced.In terms of risk management and control,the whole process of risk warning and management system is introduced from the AI model system and the intelligent "Risk Control Superbrain" system.In effect,evaluated the role of JD,small,medium and micro enterprises with loans and JD Digits itself.The study concluded that JD Digits' supply chain finance services assisted the development of JD e-commerce platform and its supply chain ecosystem.At the same time,the financing difficulties of small,medium and micro enterprises in the supply chain of JD were relieved,and multi-party win-win cooperation was achieved.In terms of the effects and causes,three causes are analyzed,namely,the national policies promoting the development of supply chain finance,the synergistic effect generated by cooperation with JD group,and the "genetic" advantage of the Internet to improve the financing efficiency.Finally,this paper summarizes the conclusion and enlightenment of the case through the study of JD Digits supply chain financial services.It is an important experience to provide a safe and reliable credit basis for the business through multi-dimensional credit investigation,customize products according to customer differences to enhance the pertinence of services,and build a fintech risk control matrix to reduce financing risks and expand the service field.At the same time,in order to maintain the sustainable and healthy development of supply chain finance business,JD Digits should also focus on the continuous use of technology enabling business development to maintain its core advantages,and actively expand the financial service scene to reduce its dependence on JD platform.