I'm in the county town, and you say I'm a big shot?

Chapter 652 Fang Qingye's Speech
"Good morning, Director Fang." Fang Qingye heard someone greet him, turned around and saw Director Luo, and greeted him with a smile, "Good morning, Director Luo."

After greeting everyone, he looked at Ant Financial's exhibition hall and said, "Director Luo, Ant Financial's exhibition hall is really big."

"Hehe, 'Internet Plus' is a national strategy, but their scenario-based finance is indeed impressive. Even Governor Zhou nodded in approval during yesterday's rehearsal."

"Oh"

Fang Qingye wanted to ask for more details when suddenly a middle-aged man walked in surrounded by a group of people. Fang Qingye recognized him.

Xiao, the leader of the China Securities Regulatory Commission!
As they walked, Fang Qingye exchanged pleasantries with several CEOs of foreign investment banks. She noticed that Xiao's face was somewhat pale, and he had noticeable dark circles under his eyes.

Didn't sleep well last night?

Leader Xiao also noticed Fang Qingye and Director Luo standing in front of the platform, and came over to greet them, but not Fang Qingye, but Director Luo.

Director Luo responded with a smile.

After Director Xiao walked away, Fang Qingye chuckled softly, "Director Luo, it seems that all the leaders are very busy and haven't had a good rest."

"Indeed, everyone has been very busy lately," Director Luo remarked. "Busy indeed. There are endless things to handle and endless issues to debate."

Fang Qingye did not speak again.

He always felt that Director Luo's words had a hidden meaning, but there were some things he couldn't ask; it was best to just listen quietly.

The forum officially opened at nine o'clock. Fang Qingye was sitting in the third row and could clearly see the expressions of everyone on the stage.

He suddenly noticed that when Governor Zhou talked about "paying more attention to the appropriate tightness or looseness of monetary policy," Leader Xiao's fingers were unconsciously tapping on the table, the rhythm getting faster and faster.

"We must be wary of irrational exuberance," Governor Zhou's voice suddenly sharpened. "Financial innovation cannot deviate from the regulatory framework!"

The room suddenly fell silent.

At this moment, Director Xiao put down his pen and slowly began to speak: "The purpose of regulation is to safeguard development, not to stifle innovation. The current activity in the capital market is a manifestation of the release of reform dividends."

"This seems a bit off, doesn't it? Are the regulators disagreeing?"

Fang Qingye suddenly noticed that the representatives of several foreign banks in the front row exchanged a meaningful look, as if they had also discovered something.

In the morning, several distinguished guests took the stage to discuss the topic, while in the afternoon, the participants gave their speeches.

The first to appear was Jing Xiandong, president of Ant Financial. Dressed in a suit and tie, he walked confidently to the podium.

"Distinguished leaders and colleagues, good morning." Jing Xiandong's voice resonated throughout the venue via the sound system. "Today, I will be showcasing the future of finance—a 'new finance' that is scenario-based, intangible, and intelligent."

The large screen lit up, and a 3D city model slowly rotated. As Jing Xiandong explained, points of light continuously appeared on the model: convenience store QR code payments, instant loan disbursement from MYbank, and deposit-free car rentals based on credit scores.
“Our Ant Financial’s ‘Skynet’ risk control system can complete a credit assessment that would take traditional banks three days in just 0.03 seconds.”

Jing Xiandong clicked on the remote control, and the screen switched to a complex data stream. "This is real-time interception of fraudulent transactions—more than 12 per day, with an accuracy rate of 99.99%." A gasp of amazement immediately rippled through the room.

Fang Qingye noticed that President Zhou, who was sitting to the side of the leadership desk, looked at the demonstration screen with a solemn expression, while the leader Xiao next to him had a look of relief on his face.

Jing Xiandong gave a detailed presentation on Ant Financial's technological innovations from several aspects, including breakthroughs in big data credit scoring, Lufax's "iron triangle" model, international regulatory benchmarking, abnormal transaction detection, and credit assessment of micro and small enterprises. He spent a full hour and a half on the presentation.

Finally, Jing Xiandong bowed and left the room, amidst enthusiastic applause.

Fang Qingye's speech was scheduled for last. He straightened his suit and strode towards the podium, eliciting a gasp of surprise from some of the attendees.

It wasn't that his title was particularly prestigious—the host only mentioned his position as president of Jinghai Bank—but rather that he was the youngest speaker among all the speakers over the years.

"Greetings, leaders and colleagues." Fang Qingye looked at the sea of ​​people below and spoke calmly.

"These past few days, everyone has heard a lot of terms related to fintech: big data, cloud computing, blockchain, artificial intelligence. But I want to ask a very simple question: why?"

He clicked on the remote control, and a minimalist interface appeared on the large screen behind him.

"This is the phone screen of a farmer from my hometown, Jinghai City, Jiangsu Province. He borrowed 3000 yuan through this to buy fertilizer, with an annualized interest rate of 14%, which is half the price of borrowing money from private individuals in the village. This is the whole point of fintech—serving those forgotten by traditional finance."

The room fell silent immediately.

“We’re not talking about a trillion-dollar market or disruptive innovation; we’re just talking about this farmer. The algorithm knows his creditworthiness not through a credit report—he doesn’t have one; not through his pay slips—he’s paid daily; but through the stability of the contacts stored in his phone, the regularity of his daily video calls to his daughter, and his purchase history on Taobao over the past three years.”

"For this, I want to thank Alibaba's Taobao. We cooperated with them to obtain this purchase data."

At this moment, a bank manager sitting in the front row raised his hand: "But isn't this an invasion of privacy?"

“Good question,” Fang Qingye nodded. “So we designed a data anonymization mechanism and a user authorization system. More importantly, we gave users a choice—either accept this assessment method to get a loan, or be rejected by the bank. 95% of people chose the former.”

“A study found that people who call their parents at least once a week have a 67% lower default rate than others. This is not just cold, hard data; it’s human nature.”

"Agricultural microcredit has always been a difficult and painful point in the business operations of all banks, especially small and medium-sized banks like ours. The only solution is technology."

"Of course, we don't just assess their credit through phone calls or shopping on Taobao. We have many other ways, such as transforming agricultural production materials (crops on the ground) that are difficult to assess into 'digital assets' that banks can identify and quantify through satellite images and artificial intelligence algorithms, thereby providing farmers with unsecured credit loans."

“I call this project the ‘Great Tit’ project. My inspiration for the name comes from a type of bird in the woodpecker family, which means that it can accurately ‘peck’ out information from the farmland.”

Following this, Fang Qingye explained the detailed steps and plans for the "Great Tit" project, including farmer authorization and land identification, AI risk control model assessment, credit granting, and post-loan management.
"Of course, this is just my idea, which involves a variety of technologies such as satellite remote sensing measurement, big data artificial intelligence, and model algorithms. It will be quite difficult to implement, but I believe that technology is not the problem. What is needed is time. That concludes my remarks. Thank you."

A round of enthusiastic applause erupted in the hall.

(End of this chapter)