Definition of financial technology

Wikipedia's definition: "FinTech (English) refers to an economic industry formed by a group of enterprises using scientific and technological means to make financial services more efficient. ..."

But the definition behind wiki says that the initial goal of financial technology enterprises is to disintegrate large financial enterprises and systems with advanced technology. This statement may be narrow. Now traditional financial enterprises are more and more aware of the importance of technology, taking the road of change and even promoting financial technology.

The trend of financial services is that all kinds of financial services (including transfer, lending, investment, payment ...) need to be seamlessly integrated into the lives of today's technologically proficient and highly educated consumers, who are relatively living in a world where business and private life are becoming more and more digital.

Financial technology companies also realized this trend early.

Financial technology was first presented through products and services in payment and P2P lending. Therefore, these areas are currently the most affected financial areas. This stage can be called FinTech 1.0, and there is also a more familiar name, which is called "internet finance" or "mutual gold" for short. FinTech 1.0 At this stage, the new players in the market are mainly concentrated in the B2C field. Nowadays, financial technology startups are trying to transition to FinTech2.0. Artificial intelligence and blockchain technology are considered as the most promising technologies in FinTech2.0. Compared with FinTech 1.0, these new technologies involve a wider range of applications, including risk control, investment, quantification, payment and security. The impact on traditional finance is even greater. Last month, I read an article about loan officers, "The salary dropped to 5,000, and Beipiao left Beijing, which was the first batch of financial migrant workers killed". This kind of thing may be common in the future.

Definition of financial technology

Financial Technology-Wiki

What is FinTech?

What is fintech? Financial technology? -Zhihu