<\/strong>
To record all the words ever spoken by humankind, five exabytes of storage would be enough. Indian tycoon Mukesh Ambani<\/a>’s telecom customers used up nearly six times as much data last quarter. As the billionaire businessman targets his 428 million subscribers with a new 5G service and seeks to lure another 300 million feature-phone users to smartphones, the challenge facing him has changed.
When he was starting out six years ago, how to sell data in a developing country was the big issue. What to sell next to someone who’s already guzzling data is the question now.
One answer is financial services. People will always need credit. Whether they deserve it — and how much — is either left to traditional credit-scoring models, which tend to exclude a broad swathe of the unbanked population. Or, as it has been demonstrated by Ant Group<\/a> Co. in China and MercadoLibre Inc. in Argentina, creditworthiness may also be gleaned from buyers’ and sellers’ transactions data on large online platforms. That’s where Ambani wants to go next — to a “consumer and merchant lending business based on proprietary data analytics to complement and supplement the traditional credit bureau-based underwriting,” his flagship Reliance Industries Ltd<\/a>. said in a Friday press release.
A successful fintech loans platform draws upon what the Bank for International Settlements calls a self-reinforcing “DNA loop,” shorthand for data, network and activity. The digital trail people leave behind on e-commerce or social media sites can be used to bind them into a strong network, which can be harnessed to encourage borrowing activity, leading to yet more data on consumer behavior.
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This loop is already in place for Reliance<\/a>. Apart from owning India’s largest telco, the conglomerate also runs the country’s biggest retailer, with more than 250 million transactions last quarter from 50 million square feet of store-front space.
Ambani also connects customers with neighborhood shopkeepers so they can order grocery and everyday items online using Meta Platforms<\/a> Inc.’s WhatsApp messaging service.
However, Reliance’s growing heft in data-spewing consumer businesses isn’t exactly setting the stock market on fire. The shares topped out at about 30 times forward earnings two years ago; they’re currently trading at a multiple of 20. A windfall Indian tax on transportation fuels and weak refining and polymer margins are hurting the conglomerate’s legacy petrochemicals and energy operations. Which is why Ambani is spinning off Jio Financial Services<\/a> Ltd. — to double down on the consumer business and put some sizzle back in the stock. Investors will get one share of the new firm for every share held in Reliance. Jio<\/a> Financial Services’ stock-market listing perhaps will happen quite quickly if the idea is also to pre-empt rival billionaire Gautam Adani<\/a>. Adani’s shadow lender, Adani Capital, is aiming for an initial public offering by 2024.
Will a fast-growing consumer and merchant loan book be enough to impress shareholders? It hasn’t worked quite that way for Paytm<\/a>. The Indian online payments firm hawked eight times more loans in the June quarter than a year earlier, sourcing and servicing customers on behalf of lenders, and yet its shares continue to languish 70% below the price at which they were sold in India’s biggest IPO last November.
That’s where Reliance will lean on its $200 billion balance sheet, and exploit the cost-of-capital advantage it gets from being rated a notch higher than the Indian government. Eventually, the group’s financial services business will seek to become a conglomerate in its own right, with a presence in everything from payments and insurance to digital broking and asset management. But the basic building block will be credit: Jio Financial will hit the ground running by originating keenly priced loans to Reliance’s vast network of consumers and merchants. Now that the Covid-19 moratoriums on loan repayments are in the rearview mirror, the timing is right. Bajaj Finance Ltd<\/a>., the leading Indian nonbank lender, is once again back to reporting 20%-plus return on equity with resumption of growth across segments and stable credit costs.
The most profitable use of granular customer information in a country like India lies in broadening access to credit: More than three-fifths of the adult population is either invisible to traditional scoring models or not considered worth the trouble by lending institutions. Ambani has the DNA loop: In the six years before the tycoon unrolled his 4G telecom network, mobile phones globally had consumed 120 exabytes. By next year, Ambani’s own customers might be burning through that much data annually. Yet, as last Friday’s earnings report showed, even after growing by a third over two years, the average revenue per user is only a little more than $2 per month. It’s time to put insights from buyer behavior — from telecom to retail — to work, and unlock some value for Reliance shareholders.
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穆凯什•安巴尼将如何运用财政收紧DNA循环
成功fintech贷款平台利用国际清算银行所谓的自我强化的“DNA循环,简称数据、网络和活动。数字跟踪人留下电子商务或社交媒体网站可以用来结合成一个强大的网络,它可以被用来鼓励借贷活动,导致更多的消费行为数据。
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人类记录所有说过的话,5 eb的存储就足够了。印度大亨穆凯什•安巴尼的电信客户使用了近六倍的最后一个季度的数据。作为亿万富翁商人的目标与新5 g 4.28亿用户服务,旨在吸引3亿个功能手机用户智能手机,他面临的挑战已经改变了。
六年前他刚开始工作时,如何在发展中国家销售数据是大问题。接下来出售的人已经喝下数据现在的问题。
一个答案是金融服务。人们总是需要信贷。他们是否应得的,多少是传统的信用评分模型,往往排除人口众多的地区。或者,正如它所表明的那样蚁群co .)在中国和阿根廷的“自由市场”公司,信誉也可能从买家和卖家的交易数据在大型网络平台。安巴尼的想去下——”消费者和商人借贷业务基于专有数据分析来补充,补充传统信贷bureau-based承销,”他的旗舰信实工业有限公司。在周五的新闻发布会上说。
成功fintech贷款平台利用国际清算银行所谓的自我强化的“DNA循环,简称数据、网络和活动。数字跟踪人留下电子商务或社交媒体网站可以用来结合成一个强大的网络,它可以被用来鼓励借贷活动,导致更多的消费行为数据。
这个循环已经到位依赖。除了拥有印度最大的电信集团还经营着中国最大的零售商,拥有超过2.5亿个事务上季度轻信5000万平方英尺的空间。
安巴尼还连接客户与附近的店主,这样他们就可以在网上订购食品和日常用品元平台Inc .) WhatsApp短信服务。
然而,依赖日益增长的影响力在data-spewing消费者业务不是完全点燃了股市。股价达到最高约30倍市盈率两年前;他们目前在20多个。印度暴利税运输燃料和疲软的炼油和聚合物利润伤害遗留石化和能源集团的业务。这就是为什么安巴尼是剥离Jio金融服务有限公司-兼任消费者业务,把一些嘶嘶声回去在股票。投资者将得到一股进行新公司的信赖。Jio金融服务的清单也许很快会发生如果股市的想法也是防止竞争对手的亿万富翁高塔姆·阿达尼。阿达尼的影子银行阿达尼资本的目标是在2024年进行首次公开发行。
将一个快速增长的消费和商业贷款足以打动股东?它没有很那样工作了Paytm。印度在线支付公司兜售8倍贷款6月季度比去年同期,采购和维修客户代表银行,然而,其股价继续憔悴低70%的价格出售去年11月在印度最大的IPO。
的依赖程度将依赖其2000亿美元的资产负债表,并利用资本成本优势就被评为一个等级高于印度政府。最终,该集团金融服务业务将成为企业集团本身,在从支付和保险数字经纪和资产管理。但基本构建块将信贷:Jio金融将旗开得胜的原始敏锐地贷款定价依赖消费者和商家的庞大网络。现在Covid-19暂缓偿还贷款的后视镜,时机是正确的。巴贾杰财务有限公司印度领先的非银行贷款,再次回到报告与恢复增长超过20%的股本回报率跨段和稳定的信贷成本。
最赚钱的使用细粒度的客户信息在一个像印度这样的国家在于拓宽信贷:超过3/5的成年人是看不到传统的评分模型被贷款机构视为价值问题。安巴尼的DNA循环:在之前的六年大亨展开他的4 g网络,电信手机全球消耗120艾字节。到明年,安巴尼的客户每年会烧穿那么多数据。然而,正如上周五的收益报告显示,即使在两年内增长了三分之一,每用户平均收入只有每月2美元多一点。是时候把见解从买方行为——从电信到零售工作,并解锁一些依赖股东价值。
人类记录所有说过的话,5 eb的存储就足够了。印度大亨穆凯什•安巴尼的电信客户使用了近六倍的最后一个季度的数据。作为亿万富翁商人的目标与新5 g 4.28亿用户服务,旨在吸引3亿个功能手机用户智能手机,他面临的挑战已经改变了。
六年前他刚开始工作时,如何在发展中国家销售数据是大问题。接下来出售的人已经喝下数据现在的问题。
一个答案是金融服务。人们总是需要信贷。他们是否应得的,多少是传统的信用评分模型,往往排除人口众多的地区。或者,正如它所表明的那样蚁群co .)在中国和阿根廷的“自由市场”公司,信誉也可能从买家和卖家的交易数据在大型网络平台。安巴尼的想去下——”消费者和商人借贷业务基于专有数据分析来补充,补充传统信贷bureau-based承销,”他的旗舰信实工业有限公司。在周五的新闻发布会上说。
成功fintech贷款平台利用国际清算银行所谓的自我强化的“DNA循环,简称数据、网络和活动。数字跟踪人留下电子商务或社交媒体网站可以用来结合成一个强大的网络,它可以被用来鼓励借贷活动,导致更多的消费行为数据。
这个循环已经到位依赖。除了拥有印度最大的电信集团还经营着中国最大的零售商,拥有超过2.5亿个事务上季度轻信5000万平方英尺的空间。
安巴尼还连接客户与附近的店主,这样他们就可以在网上订购食品和日常用品元平台Inc .) WhatsApp短信服务。
然而,依赖日益增长的影响力在data-spewing消费者业务不是完全点燃了股市。股价达到最高约30倍市盈率两年前;他们目前在20多个。印度暴利税运输燃料和疲软的炼油和聚合物利润伤害遗留石化和能源集团的业务。这就是为什么安巴尼是剥离Jio金融服务有限公司-兼任消费者业务,把一些嘶嘶声回去在股票。投资者将得到一股进行新公司的信赖。Jio金融服务的清单也许很快会发生如果股市的想法也是防止竞争对手的亿万富翁高塔姆·阿达尼。阿达尼的影子银行阿达尼资本的目标是在2024年进行首次公开发行。
将一个快速增长的消费和商业贷款足以打动股东?它没有很那样工作了Paytm。印度在线支付公司兜售8倍贷款6月季度比去年同期,采购和维修客户代表银行,然而,其股价继续憔悴低70%的价格出售去年11月在印度最大的IPO。
的依赖程度将依赖其2000亿美元的资产负债表,并利用资本成本优势就被评为一个等级高于印度政府。最终,该集团金融服务业务将成为企业集团本身,在从支付和保险数字经纪和资产管理。但基本构建块将信贷:Jio金融将旗开得胜的原始敏锐地贷款定价依赖消费者和商家的庞大网络。现在Covid-19暂缓偿还贷款的后视镜,时机是正确的。巴贾杰财务有限公司印度领先的非银行贷款,再次回到报告与恢复增长超过20%的股本回报率跨段和稳定的信贷成本。
最赚钱的使用细粒度的客户信息在一个像印度这样的国家在于拓宽信贷:超过3/5的成年人是看不到传统的评分模型被贷款机构视为价值问题。安巴尼的DNA循环:在之前的六年大亨展开他的4 g网络,电信手机全球消耗120艾字节。到明年,安巴尼的客户每年会烧穿那么多数据。然而,正如上周五的收益报告显示,即使在两年内增长了三分之一,每用户平均收入只有每月2美元多一点。是时候把见解从买方行为——从电信到零售工作,并解锁一些依赖股东价值。
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