What impact has Internet finance brought to traditional finance?

1. Changed the financial market structure: Internet finance broke the monopoly position of traditional financial institutions, improved market competition, and expanded the scope and depth of financial services.

2. More flexible and diverse financial services: Internet finance adopts new financial business models, such as P2P peer-to-peer lending, crowdfunding investment, third-party payment, virtual currency, etc., to meet people's more diverse financial needs.

3. Reduce the cost of financial transactions: Internet finance has realized online and automatic processing, which can save manpower, material resources and time costs and make financial transactions more convenient and efficient.

4. Enhanced risk control capability: Internet finance has a stronger ability to cope with risk management and anti-fraud by using big data, artificial intelligence and other technical means, and has enhanced the risk control capability of financial institutions.

5. Promote financial innovation: The rapid development of Internet finance has promoted the innovation of financial business model and technology, and brought more opportunities and challenges to traditional finance.