What impact does Internet finance have on traditional finance?

(1) has opened up new financing channels. Whether it is a payment channel or a credit channel, Internet finance has made a powerful supplement to the traditional financial industry. In addition, in the sales of some traditional financial products, such as wealth management products and insurance products, through in-depth cooperation with e-commerce platforms, Internet finance has made the sales methods of these traditional financial products more diversified and the sales channels more extensive.

(2) Improve the informatization level of financial industry. The emergence of the Internet is a good supplement to the original financial system. The application of Internet can make the collection of financial information more convenient and quick, and can collect a large amount of data in a short time. These financial data not only provide a basis for risk credit evaluation, but also provide an important reference for financial institutions to establish a personal credit system.

(3) Promote innovation and change in the financial industry. With the introduction of Internet technology, the cost of financial activities has become lower both in information collection and information dissemination, which is very helpful to alleviate the financial information asymmetry between financial institutions and individuals.