Jun Mao at Iuicity Technology: Technology Disrupts Business through Cost Minimization and Productivity Maximization

2018-02-05

Jun Mao at Iuicity Technology: Technology Disrupts Business through Cost Minimization and Productivity Maximization

How does quickly evolving technology and big data interplay with finance? We are honored to invite Mr. Jun Mao, CEO of Iuicity Technology, SAIF alumnus and one of our guests at 2018 International Youth Leadership Finance Summit (2018 IYLFS) to answer this question. One of the first big data companies in partnership with three leading carriers, Iuicity Technology focuses on big data financial services. With its proprietary algorithm of big data analytics and enormous data of communication and internet user behaviors, it offers three major product lines, namely big-date-based intelligent marketing, intelligent ex ante risk control and ex post management cloud (for alerts and NPL collection, and engages in the sectors of banking, internet finance, telecommunication carrier and insurance.

Jun Mao, CEO of Iuicity Technology

Timing & Opportunities

Thanks to his acumen judgement, Mr. Mao captured the opportunities at the early inception of internet and boasts over 20 years of experience in communication and internet today. He attributes his choices of internet and big data to time and opportunities. “When I started my career, it happened to be the burgeoning stage of internet and I had the opportunity to be part of the blossoming industry, which was the perfect timing. My work widely involves telecommunication carriers and needs to analyze our customers at a number of dimensions. In contrary, big data provides a way to compile numerous user data at all levels. Therefore, these two areas fit well. At present, one of our key goals is how to use it to serve the financial sector.”

Technology Disrupts Business through Cost Minimization and Productivity Maximization

Concerning Fintech, for Mr. Mao, all technologies share the common mission, that is, to maximize productivity and minimize costs, which helps businesses to serve underserved segments and customers. “It is the same case in all inclusive markets. Without cost minimization and productivity maximization through technology, it is infeasible to offer microfinance, say RMB1,000 to RMB2,000. First of all, online services were impossible in the past. Yet today, there are online and microfinance services, which are both innovations derived from technology.” He took insurance an example. When an insurance policy is bought online, in particular when it is life insurance, it is essential to take anti-fraud measures on the applicant. Without big data and data collection via numerous intelligent devices and new technologies, this transaction couldn’t be fulfilled. “These are all innovations from technological development, which empowers and drives business instead of overturning it.”

Mr. Mao conveyed his understanding on Fintech, “Rather than pure technology, Fintech aims to better serve the financial industry with technology, in order to support its healthy and efficient growth.”

Harvest at SAIF & Great Expectation

Mr. Mao attributed his partnership with 2018 IYLFS out of his busy schedule to his prior experience at SAIF campus. “The study at SAIF was fruitful. I acquired essential knowledge and expertise and also harvested the friendship with both faculty and classmates. Therefore, I immediately accepted the invitation. However, there is another reason. As one of the highly competitive programs in the world, SAIF MF Program has cultivated a variety of talents. I hope through 2018 IYLFS, I would be able to provide them with some interesting topics for in-depth discussion and explore the talents and creativity of top-rated students today. Therefore, I have the obligation and interest to work with SAIF concerning such events.”

As to his expectation on competitors, Mr. Mao pays more attention to the processes. “Though not all MF students have extensive business experience, they contribute innovative thinking and ideas, which demonstrate their wisdom and contribution to the projects. Even if some ideas cannot be simply adopted in practice, there are jury members with outstanding background in banking, who may provide them with advices and assistance for greater outcomes. We don’t expect that the players would provide us with perfect answers in the competition. Instead, we look forward that their ideas would inspire sparkles.”

Historical Responsibility of China’s Revitalization

Mr. believes that SAIF MF students should value the historical opportunities of the time and work hard. “For top-class MF students, as long as they capture the skills and expertise, follow the trend and take the historical opportunities of both the time and China’s take-off, I’m sure that they will enjoy a brilliant future. The rise and decline of an industry is closely related to time and social development. However, a major economy can speak out its voice in any sector. Today, China is rising in a number of areas. It is a good time, when we are lucky to stand on the shoulders of giants. And at the time of rise, many key businesses evolve well. Therefore, as long as you make full use of your team by studying and practicing your skills, you will have a promising prospect.”

However, he also highlighted the importance of practice. “Out of textbooks, I attached importance to practice during my years on campus. When I took my EMBA program, Dean pointed out, ‘When you are here, half of the value of the program comes from SAIF’s education and knowledge, and the other half is derived from the interaction with your peers.’ On campus, it is advisable to treasure SAIF’s resources and learn from your faculty and tutors. However, it is also helpful to go out of textbooks, take part in internship between SAIF and businesses, expose yourself to industry hotspots or participate in forward-looking academic seminar and innovation workshops, such as 2018 IYLFS. Probably you will find your interest and talent in some specific areas, which fosters sharp insights and triggers new thinking on your career future.”

As technology evolves, the trend of big data is also driving us forward. As no one can escape the tide, we need to keep improving our hard and soft skills and forge ahead. As Mr. Mao said, “People with quick learning, dedication and high resistance to stress and frustration will stand out no matter when they are.”

Top