Extraordinary Genius

Feng Yu’s reply had shocked the four banks’ representatives.

The banks’ representatives had wanted to negotiate with Feng Yu, and they never expect Feng Yu to ask them to leave suddenly.

The banks’ representatives were mad. Feng Yu is too arrogant. What Feng Yu said is implying he will not use their banks.

But at the same time, the representatives were worried. Did Feng Yu reach a deal with other banks? How come they are not aware?

If Feng Yu had really made a deal with other banks, it would greatly impact their four banks.

Suppose other banks are working with this third-party payment platform except for their banks. In that case, it will affect their customers’ experiences.

Feng Yu must be lying. Those banks will never agree to this ridiculous cooperation, like sharing their cakes with Feng Yu.

No bank will have a shareholder that owns the banks’ controlling stake. Any major decisions must be made by the Board of Directors and top executives through discussion. If Feng Yu agrees to let the banks invest in his mobile payment platform, it will be equivalent to setting up a new internet bank.

But Feng Yu wants the whole cake for himself. How can they agree to this? He mentioned he will give them a stake in the future platform, but who knows how long it will take? What if Feng Yu goes back on his words or give them very little shares?

“Mr. Feng, your mobile payment platform will still need the support of our banks. I am confident that all companies cannot do well without support from the banks. You are putting us in a difficult position.”

Feng Yu glanced at that JPMorgan representative. “I agree that all companies cannot do without banks. But can you all represent all the banks? There are thousands of banks globally, and I can do without the support from your four banks. Also, this mobile payment platform will be the biggest in the world. Without us, your banks will have lesser and lesser clients! Since you think you all are in a difficult position, then forget it.”

Just like in Feng Yu’s previous life. Any banks in China that do not work with mobile payment platforms will lose customers. Alipay had done well despite so many competitors. In this life, the mobile payment platform only has Paypal as its competitor. It will surely be more successful.

The tide is in Feng Yu’s favor.

The four banks’ representatives left again, and Ralph asked worryingly. “Boss, didn’t you say we will expand our mobile payment platform from East Europe and China to the West? Why are you starting the expansion from the US now?”

“I am only giving the Americans an additional option. Of course, our main target is still China and the region around them. Paypal and mobile payment platforms serve consumers who had different spending patterns.

But if a mobile payment platform can enter the US market now, it will expand to the rest of the world.

The mobile payment platform is more valuable than Paypal. How valuable is big data? Just look at how fast Oracle’s value is rising.

Feng Yu had also invested in banks. For example, he had invested in Minsheng bank in China.

But Minsheng bank is struggling because of the suppression from other state-owned banks. If it wasn’t for these entrepreneurs’ companies’ support, it would have closed down a long time ago.

Even now, Minsheng bank is not making money. This is because of the different treatments from the Government. For example, the Government implements policies to help the state-owned banks first, and Minsheng Bank will get it much later. This applies to trust funds, insurance companies, etc.

If not for all these restrictions, Minsheng bank would have become successful a long time ago.

Just by attracting people to deposit money with them and investing, Feng Yu can help Minsheng bank be more successful than those state-owned banks, even when Minsheng bank is not allowed to invest overseas.

The state-owned financial institutes had already started investing overseas. These institutes are huge and control a large fund. But to Feng Yu, these institutes had invested blindly.

For instance, many of these institutes had lost money in this internet bubble. They didn’t dare to invest at the start and started to invest when the market is nearing the peak. They had missed the golden period.

This is still fine, as the institutes can still make some profits. But when it is time for them to withdraw from the market, they felt the market will recover. This resulted in their profits getting lesser and lesser, and in the end, all of them suffered massive losses.

Iron-fist Zhu had invited Feng Yu to be the consultant for these state-owned financial institutes but was rejected. It is not because Feng Yu doesn’t want to help China make money. The power given to Feng Yu is too little, and the responsibility is too big.

If those financial institutes are willing to listen to Feng Yu, Feng Yu will have access to a large fund. It will be easy for him to get high returns.

With a huge amount of funds, Feng Yu can easily get returns even when investing conservatively. The people overseeing the state-owned financial institutes are still just not up to standard.

After Feng Yu rejected Iron-fist Zhu, he recommended Professor Liang and Fu Rongqi. But because they are from Hong Kong, they still need to be monitored.

Although Hong Kong had already returned to China, Hong Kong’s policies differed from China’s. The Chinese Government still doesn’t understand Hong Kongers. More importantly, they are not familiar with Fu Rongqi and Professor Liang.

Feng Yu understands the banks better through Minsheng Bank. Although Minsheng bank is not making money yet, the bank’s shareholders had made use of the bank’s transactions to make high returns.

Even a bottom-ranked bank in China can make money through analyzing their customers’ transactions, let alone these top banks in the US.

Transaction data is the foundation of the banks. Just look at the Swiss banks. They will not disclose their clients’ data, and that’s why they are popular worldwide.

Security is all slogans by the banks. If you deposit 1 billion USD in any major bank, your money will surely be protected. All banks will do their best to keep a big client.

Your money will never be lost!

The Swiss banks can guarantee your money will be inherited by the person you want, and not affected by politics, etc. This is not the case for other banks.

Also, Switzerland is a neutral country and is not involved in any conflicts.

However, this is also a gimmick. Switzerland had also sold their firearms to war-torn regions. You claimed to be neutral. Why are you developing firearms? You all are just trying to protect your cake.

Feng Yu will snatch this cake away from the banks, and he wants to see how the banks are going to choose.

Oracle Corporation