Hello everyone, I can let you know more about bank deposit products!
Those who are familiar with Daodao’s previous evaluation should know that the weekly issue of bank deposit products are actually evaluated and introduced based on the bank deposit products on several major platforms.
However, this evaluation has been limited by the limitations of some platforms, unable to obtain complete bank deposit product information. That is the topic of this issue, “big data limitation”.
Today we will talk about this topic in detail.
What is “big data limitation problem”
Some friends may not understand the problem of “big data restriction”? Let me explain it directly. It means that everyone can see and buy different products on the corresponding platform, similar to the so-called “thousands of people and thousands of faces” in many cases.
This is actually a very scary thing, which means that your product options may (allow me to use this word) be manipulated by these platforms.
For example, this platform clearly has a bank deposit with a one-year deposit interest rate of 4.75%, and you also meet the purchase conditions. But when you go to search or search, you find that you can only see 4% of a year’s bank deposit.
So incomplete information makes you make the wrong decision, you mistakenly think that the status quo is the best product, you buy it directly.
I’ll also name them here, such as Xidong finance, X Fubao, X Xiaoman finance, X Mi finance, etc. (the platform name has been coded). Almost all big platforms have this problem.
The value and limitation of platform (middleman)
Remember last year’s 618 and 11.11 incidents between Galanz and tmall? Galanz 618 publicly complained about tmall’s search restrictions and 1111 sued tmall for its monopoly.
Finally, in June this year, he withdrew the lawsuit silently and slapped himself in the face.
I’d like to post two announcements in the Galanz incident for you to look forward to.
If we look at this matter now, these mutual fund platforms use technology and services to aggregate products and integrate accounts to improve the trading experience of users’ financial products.
As a platform, you can charge the bank (product supplier) through your services. Even if you learn from Fengchao to collect service fees from users, I can accept it.
But what is the status quo?
Now you have carried out the “information blockade”, which has led some users to buy products that “may” (please allow me to use this word) are inconsistent with their expectations, resulting in the loss of profits of “may”.
As a platform, you can say that you don’t have access to this product! You can tell me that I can’t buy this product! You can even tell me what conditions are required to buy this product? But without any reason or information, you can directly restrict my information viewing, which is too much.
Of course, we don’t know whether there are interests in the middle.
And the existing platform as a middleman, its biggest value as a platform, because of this, heavily discounted.
I vaguely remember that during the reform and opening up, there was a crime called “speculation”, which was about “middlemen making a price difference”.
Is the bank deposit with high deposit rate on the platform legal?
In fact, many friends will have a question: Why are the interest rates of deposit products on the mutual fund platform so high?
First of all, let me give you a background. In fact, based on the issuance and improvement of the central bank’s policies in recent years, the marketization of domestic deposit and loan interest rates has been formally completed. For example, we are familiar with the loan LPR, the fluctuation of deposit interest rates and so on.
(for example, from July 20, 2013, the central bank cancelled the lower limit of 0.7 times of the lending rate (benchmark interest rate) of financial institutions; from October 24, 2015, the central bank released the floating upper limit of the interest rate of fixed deposits with a term of more than one year (excluding one year); notice of the people’s Bank of China on strengthening the management of deposit interest rate; I will not list all the relevant policies and statements.)
In essence, the interest rate rise of these bank deposit products is legal and compliant.
Secondly, based on the different needs of the bank’s storage task and different operating capacity, each bank will have different bearing capacity of savings cost and customer acquisition cost. We can’t generalize.
Similarly, the cost of acquiring customers and collecting deposits online may be lower, so the interest rate of online bank deposit products will be higher than offline ones.
Therefore, the level of interest rate is generally the result of comprehensive consideration of banks based on the current situation.
What will happen to products without middlemen to make a difference?
In fact, many friends’ cognition of bank deposit rate is only seen in offline outlets or online banking of several commonly used bank cards
When you first see these products on several large platforms, you usually try to verify the authenticity of these products. And often ignored a point, to think about the role of the platform side in the business process and the operation.
As the “big data limitation problem” described at the beginning of this article, how many users can find it?
See here, do you have a question: without these platforms, if I go to the bank directly, will the interest rate of these bank deposit products be higher?
The answer is: Yes!