Understand the difference between Fintech and Internet finance in three minutes.

Financial Technology is translated from the English word Fintech, and Fintech is synthesized by the words "Finance" and "technology". Financial technology mainly refers to those high and new technologies that can be used to tear apart traditional financial services. The concepts of Internet finance and financial technology are rather vague. At present, Internet finance is strictly regulated, and its valuation in the capital market is not ideal. If some platforms are renamed as technology and finance, the regulatory rules and regulations can be bypassed.

Internet finance is an organic combination of Internet technology and financial functions. Relying on big data and cloud computing, it is a functional financial format and its service system formed on the open Internet platform, including financial market system, financial service system, financial organization system, financial product system and Internet financial supervision system based on the Internet platform, and it has financial modes different from traditional finance, such as inclusive finance, platform finance, information finance and fragmented finance.

Internet finance ITFIN is not a simple combination of the Internet and the financial industry, but a new model and new business that naturally comes into being to meet new demands after being familiar with and accepted by users in network technologies such as security and mobility (especially the acceptance of e-commerce). It is an emerging field that combines traditional financial industry with Internet technology. On June 20/610/3, the General Office of the State Council issued the Notice on the Implementation Plan for Special Remediation of Internet Financial Risks.