At the present time of the new round of scientific and technological revolution and industrial transformation, scientific and technological innovation has become an important engine for the high-quality development of the real economy, and every seed of scientific and technological innovation is inseparable from nourishing the living waters of finance in the process of growing into a leafy tree.
At the Central Finance Work Conference held last year, technology finance was identified as one of the “five major articles.” As the earliest commercial bank in the industry to explore technology finance service models, SPD Bank has always attached importance to the expansion and upgrading of technology finance business, and continues to further advance technology finance as the main strategic track in the new round of strategies to accompany the growth of technology enterprises with a more professional organizational structure, more comprehensive product system, and more efficient service model, and carefully write the big article “Technology Finance”.
The reporter learned that by the end of 2023, SPD Bank had served more than 50,000 technology enterprises, the loan balance for technology companies had increased by more than 30% compared to the beginning of the year, and served more than 70% of companies listed on the Science and Technology Innovation Board.
Newly upgraded product system, “tailor-made” for technology companies
Before the Spring Festival this year, a small and micro technology-based enterprise in Suzhou that produces automation equipment needed to pay several payments and urgently needed a working capital in the short term. Prior to that, this company had never applied for a bank loan, and had no idea about its loan qualifications, credit lines, etc.
SPD Bank learned that this company integrates the design, manufacture and maintenance of automation equipment and vibrating plates, has multiple utility model patents, and has a group of R&D personnel with experience working in Japan in related fields and a complete set of advanced production management systems. Based on the company's science and innovation attributes, SPD Bank accurately matched the “Puchuang Loan” online financing product as soon as it learned about the company's capital requirements. The business owner completed the quota calculation by scanning the code online. They were satisfied with the amount. They immediately opened an account and successfully obtained a loan of 1.189 million yuan.
According to the relevant person in charge of SPD Bank, “Pudong Loan” is an online credit loan for small and micro science and technology enterprises in the seed stage, start-up period, and incubation period. It is automatically approved and issued by the SPD Bank system based on a comprehensive evaluation of multi-dimensional data such as the enterprise's operating taxes, financial assets, etc., as well as the income and assets of the business owner. This also means that the entire process of this business, from application, signing, approval, loan to repayment, can be operated online. The enterprise can handle it on its own, and the operation is simple and quick.
Using “Puchuang Loan” to open up the first kilometer of technology finance services, this is a microcosm of SPD Bank's “tailoring” for technology companies. In fact, in order to meet the full life cycle financial needs of various technology companies, SPD Bank has now launched the “PUCO” series of products with the four major characteristics of “full cycle, multi-integration, digital intelligence, and customizability”, covering 5 major products, 7 key products, and X customized products to support innovation throughout the entire process of technology enterprises.
In addition to “Puchuang Loans,” which accurately drip irrigation for early-stage technology companies, this series of products also includes “Pu Investment Loan”, which works with ecosystem partners to achieve “small loans, early loans, and hard technology” models; “PUXIN Loan”, which focuses on 5 types of qualified enterprises and dynamically adapts to the growth of technology enterprises with credit methods and flexible interest rates; and “PUCO M&A Loans”, which serve the transformation of key science and innovation achievements, technology breakthroughs, product development, and mergers and acquisitions.
The reporter noticed that previously, it was widely believed in the industry that technology companies initially invested heavily in R&D, had a long cycle, and lacked qualified collateral, so it was often difficult for traditional bank credit to match the needs of enterprises. How to solve this conundrum? The newly launched “Pudong Research Loan” by SPD Bank provides a special sample.
Beijing ZK Technology specializes in application service software development at the SAAS level, covering segments such as digital media communication, security, finance, cities and commerce, providing multi-language, cross-modal, all-media, and deep cognitive intelligence big data systems and solutions. The company has a strong core R&D team, and its research capabilities are at the leading level, and it has received key support from investment funds from various PE institutions. However, since the company is still in the stage of continuous investment in R&D and has a certain R&D cycle, its financial performance is not yet fully profitable.
The Beijing branch of SPD Bank learned in exchanges with enterprises that the company's focus on financing needs is whether banks can provide medium- to long-term stable financial support for R&D purposes to better match the enterprise's R&D cycle and give the enterprise greater confidence to invest in R&D. After learning about this situation, the Beijing branch comprehensively assessed the company's R&D strength and used the “Pu Research Loan” to use medium-term working capital loans as an entry point, which is highly consistent with the company's latest research and development data model cycle. The plan quickly stood out from the industry, was highly recognized by enterprises, and a 3-year loan support of 50 million yuan was implemented, providing strong support for the company to carry out R&D activities.
Optimize the professional organizational structure and build a technology finance cooperation ecosystem
In order to build a financial service system that is more in line with the needs of various technology companies, in addition to upgrading and improving products and services, SPD Bank is also actively deploying organizational structures and management policies.
Currently, SPD Bank has set up a “1+12+X” specialized financial system and service team for technology finance. At the head office level, special departments are responsible for promoting the development of technology finance throughout the bank; at the branch level, establishing 12 branches including Beijing, Shanghai, Shenzhen, and Guangzhou as key branches; at the branch level, promoting the construction of a number of technology branches and technology specialty branches such as the Zhangjiang Technology Branch to provide technology finance services directly to enterprises; at the group level, collaborating with the superior resources of various organizations within the group, such as SPD Silicon Valley Bank, SPDB International, and Shanghai Trust, to accurately support the development of technology enterprises throughout the process.
At the same time, SPD Bank is also developing specialized and differentiated operations for the characteristic customer base of technology finance. For example, clarify the certification standards for technology-based enterprises, establish a digital dynamic logo management mechanism, implement differentiated management and risk strategies, and explore the establishment of differentiated assessment mechanisms; the head office's Science and Technology Innovation Finance Center and branches set up risk teams to specifically approve credit business and special plans for technology enterprises, etc.
It is worth mentioning that risk control is the “lifeline” of bank operations. As technology finance services continue to be innovated and upgraded, building a stricter, more maintenance, and smarter risk control system is the primary prerequisite and important guarantee for banks to carry out various technology finance businesses.
According to the relevant person in charge of SPD Bank, for the differentiated characteristics of technology enterprises, the bank studies the risk control logic of technology enterprises in different cycles through diversified information integration, combines looking at the past with looking at the future, combining looking at financial statements with looking at technological innovation, and looking at individual assets and talent teams. Through the linking, introduction and transformation of external data and valuable consulting information, the bank innovates and develops a risk evaluation system unique to technology finance represented by the “Five Forces of Technology Model”, which provides deep insight into technology enterprises and service technology enterprises for management personnel at all levels I can.
The reporter learned that while continuing to be deeply involved in the technology finance business itself, SPD Bank is also actively cooperating with the government, PE/VC, technology hub enterprises, etc. to build a unique technology finance strategic cooperation ecosystem and jointly build a comprehensive service system integrating “stocks, bonds, loans, insurance, leasing, financing, accounting, and connectivity.” As a result, from initial incubation of technology enterprises to market cultivation to development and growth, SPD Bank can customize exclusive service plans for them and provide long-term, three-dimensional, and diversified comprehensive services to deeply empower technology enterprises to innovate and develop.
Build a branch with technological characteristics and witness the legendary story of enterprise growth
In order to be able to promote ecological technology financial services to first-line management institutions and directly reach technology enterprises, SPD Bank has also set up technology-specific branches in regions where technology resources are concentrated.
According to information, technology specialty branches have been certified by the head office of SPD Bank. They are specialty business branches with a good business foundation and focus on local technology industry customer groups. They are not only a pioneering force leading the development of technology finance, but also a testing area for various innovative products and service models.
Zhangjiang Science City, in the southeast hinterland of Shanghai, has many high-tech industrial clusters and scientific research institutions. It has produced one scientific and technological achievement that has attracted the industry's attention. On top of this hotspot of science and innovation, SPD Bank's Zhangjiang Technology Branch has accompanied the growth of technology companies for a long time, and has repeatedly witnessed the legendary story of “a technology startup with a loan of 10 billion dollars” growing into a “leading listed company in the technology industry with a market value of 10 billion 100 billion dollars”.
Ten years ago, SPD Bank's Zhangjiang Technology Branch became the first batch of licensed technology branches supervised by the Shanghai region. Over the years, the Zhangjiang Technology Branch has continuously accumulated innovation experience in technology finance, breaking through various difficulties such as shareholding and financing settlement for technology enterprise employees, advanced technology patents for cross-border mergers and acquisitions of leading technology enterprises, equity incentives for foreign core technicians, and management of cross-border investment and financing funds for technology enterprises to solve financial problems in the development of technology enterprises.
The reporter learned that the Zhangjiang Science and Technology Branch has built a “rainforest” science and innovation customer characteristic management system around the unique science and innovation ecosystem of Zhangjiang Science City, dividing customers into tree layers, seedlings, and shrubs.
Among them, Arbor customers are leading technology enterprises, regional science and technology innovation platforms, and senior industry funds selected by the branch. Through these Arbor customers, more small and medium-sized enterprises have been introduced, while providing industry ecological links to small and micro enterprises as platform-based resources. Seedling customers establish a “one household, one policy” service model to provide personalized multi-dimensional services for listed and proposed companies with which the branch has deep cooperation. Shanmu customers are the branch's stock of specialty, new, and high-tech enterprise customers. For these start-ups, small and micro technology enterprises, the branch actively provides first loan products, credit technology enterprise credit, and supporting services for capital settlement and personal finance.
Through the “rainforest” system, the Zhangjiang Technology Branch continues to be deeply involved in the field of technology finance. Currently, the branch serves about 100 listed companies and more than 1,000 technology companies. As these technology companies continue to grow, the branch's business scale has doubled several times in recent years.
In the branch network of SPD Bank, there are also many examples of technology-specific branches being deployed according to local conditions. On January 19 of this year, SPD Bank awarded licenses to a number of “Science and Technology Special Branches” at the technology enterprise financial service system press conference with the theme of “Rongtong Science and Technology Innovation Partner Bank” to further promote scientific and technological innovation and long-term interactive development of financial resources.