Will the emergence of internet finance make banks disappear?

No. The key to the deposit and loan business is the quality of the loan, that is, finding the right lender, which is the job of the credit manager. Internet is a means of information dissemination, not a means of information identification and analysis. Analysis is still done by people. Whether through traditional face-to-face communication or with the help of new technologies and models, it is inseparable from people and financial institutions that employ them.

Banks can also learn internet finance quickly and take advantage of long-term accumulation to occupy a favorable position. Banking is the bottom of the financial industry. Think about it, life can be without securities and insurance, but without banks, it may be worse.

In the so-called era of big data, the growth rate of data far exceeds the growth rate of information, and the growth rate of noise contained in data also far exceeds the growth rate of information. Therefore, the demand for extracting information from data is increasing. In this sense, in the era of big data, higher rather than lower requirements are put forward for people's ability to analyze and refine. These are not what machine algorithms can do.

So, don't flatter Internet finance too much. P2P, once under the banner of Internet finance, has been completely retired. Internet finance, in essence, is still finance, just catching up with Internet technology and making finance more convenient. Nowadays, the banking industry is also generally transforming to the digital direction.