How are the three stages of the development of financial technology divided? What are the landmark events and what are their characteristics?

The three stages of the development of financial science and technology are landmark events divided from the perspective of science and technology promoting financial reform, which have the following characteristics:

The industry divides the development of financial technology into three stages:

The first stage is the 1.0 stage of financial technology (1866- 1986), which can be defined as the stage of financial informatization.

At this stage, the financial industry has initially accumulated information technology, and realized the electronization, automation and paperless of office and business through the software and hardware of traditional IT, thus improving business efficiency and reducing operating costs. At this time, scientific and technical personnel are more in the cost department of the financial system.

The second stage is the financial technology 2.0 stage (1987-2009), which can be defined as the internet finance stage.

This is the era of large-scale expansion of the Internet, and a large number of information technology companies have emerged. These companies use network technology to gather a large number of users and information to realize the interconnection of any combination of assets, transactions, payments and funds in financial business. In essence, it is a reform of traditional financial channels, which realizes information sharing and business integration through the Internet. The most representative ones are P2P peer-to-peer lending, online crowdfunding and Internet fund sales.

The third stage is the financial technology 3.0 stage (from 2009 to now), which is a stage of deep integration of finance and technology.

At this stage, a large number of original financial services have changed the traditional sources of financial information collection, risk pricing model, investment decision-making process, credit intermediary role and so on. Through new technologies such as big data, cloud computing, artificial intelligence and blockchain. It not only improves quality and efficiency, but also stimulates new financial behaviors, such as big data credit reporting, smart investment, and off-site supervision.