Can Internet finance replace traditional finance?

The Internet has brought about great changes in customers' behavior patterns, pushing banks to change from "disintermediation of funds" to "disintermediation of funds payment", which inevitably requires banks to change their traditional service modes, such as changing from traditional counters to intelligent self-service and from traditional outlets to online and offline three-dimensional multi-channel services. The development of Internet finance makes the banking business model and service channels more diversified. However, it is undeniable that the development of internet finance has brought certain impact on the development of some banking businesses.

Since 20 13, the internet finance represented by "Bao Yue" and the cashless movement formed by mobile payment last year have brought a strong impact to banks. However, whether it is "finance+Internet" or "internet plus Finance", the essence is finance. It is only through new technologies that the orientation of financial services is expanded and the efficiency of financial services is improved, but they are all inseparable from the essence of finance.

Nevertheless, we should treat Internet finance rationally. Different banks should have their own strategic strength, plan before action, plan before practice, and not blindly pursue the latest and most fashionable technologies and innovations.

It is worth noting that under the hot market pattern of financial technology, banks have not "stayed put". The essence of financial technology innovation is innovative financial application, which will help promote the digital transformation of banks while embracing the development of financial technology innovation.

Data should become the core asset of an enterprise, and it is no longer an intermediate accessory in the process of business development, but contains the needs of business analysis, generating value for customer marketing and risk management and control. Financial science and technology innovation should combine the reality of commercial banks, have a clear strategic path, and strengthen data governance, data application and data innovation.

Financial technology, on the one hand, is finance, on the other hand, is technology. How to combine the two is worth thinking about. How to guard against risks is a problem that new technology should think about, and it is also a problem that every bank should think about. Only by paying equal attention to innovation and risk can we ensure the smooth progress of transformation and development.