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Category: Financial Institution

19 Jun 2019

Jingdong Is Offering Their Premium Members Even More  0

Customers in China have become much more discerning about their purchases and the services that they choose to use. Retailer has been striving to meet and exceed their expectations since the company was founded as a brick and mortar tech store. In order to offer even more value and benefits to the millions of people who choose to shop from Jingdong and their partners, they began offering the JD Plus premium membership back in 2016. Over the last few years, they have already attracted more than 20 million users to sign up for their premium services. While in the past the benefits were only offered in partnerships based in China, the company has now expanded its options to 15,000 hotels that are located in different countries around the world.

This is big news for the customers of and their JD Plus program who statistically tend to be younger and affluent. Upwards of 89% of their JD Plus members have earned at least a bachelor’s degree during their lives and 65% of their members are under the age of 35. By offering discounts, extra loyalty points, and other perks at these hotels, they are able to appeal to their customers that are traveling around the world for business or just to have fun on a trip away from China. People demand quality and JD Plus members have made it clear that they are willing to pay for services that meet their standards.

When Jingdong decided to launch their JD Plus program, they were the first online retailer that was located in China to offer a paid membership to their customers. The benefits being introduced at these international hotels are just some of the offerings that Jingdong provides their members. In addition, the JD Plus membership also includes offers for wealth management, restaurants, and healthcare services among more traditional services such as a faster or discounted shipping on their orders. The list of partnerships that Jingdong offers is constantly growing and customers can expect them to introduce even more during their anniversary event that is taking place during the month of June.

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30 Nov 2018

Why GreenSky Enjoys a Competitive Advantage from other Online Lending Firms in the Industry.  0

Ever heard of GreenSky LLC? It is one of the most integrated financial technology companies based out of Atlanta, Georgia. Since its establishment in 2006, the Company is successfully dealing with the provision of technology that enables banks and other merchants to lend money to a wide range of consumers effectively. Most of the clients require loans for home improvement purposes, as well as healthcare and solar projects. Over the years, the company strives to set a gap between its services and those of other start-ups in the industry.

In recent news from The Wall Street Journal, GreenSky is considering getting out of its privatization comfort zone and going public. It has filed for a confidential IPO and aims at raising about 1 billion dollars at a valuation of $5 B. By choosing this direction, the Company’s founding partner and CEO David Zalik will be moving against other firms such as Credit Karma, Uber, and Stripe that do not recognize the existence of public offering. Most private enterprises in Silicon Valley believe that enjoying extensive individual operations is the most desirable state for business.

However, GreenSky can back-off from the IPO deal even after signing the papers with the Securities and Exchange Commission. Doing this gives the firm more time to prepare extensively away from the public eye. While Zalik mainly focuses on establishing close working relationships with banks all the years, many start-ups in the nation that have long put off the relevance of banks terming themselves as better options. Zalik’s vast experience working with various banks, coupled up with his excellent leadership skills has significantly helped the lending giant transfer most of its risks to banks; hence its sustainable growth. For instance, it is implausible for the organization to suffer the consequences of defaults.

GreenSky’s dramatically rose in August following news of partnership deal with American Express. This was after the release of its huge earnings earlier in the month. Thankfully, the situation seems to be back on track due to the favorable rating coverage presented.

For GreenSky, it mainly draws its profits by collecting fees following the successful establishment of loans from its businesses.