Internet finance the most need to promote the future of what the basic work

Beijing Times (Reporter Gao Chen) Epro Payments recently released a research report titled "What are the Fundamental Work Most Needed to Promote in the Future of Internet Finance?" Of the Internet users who participated in this survey, 47% think that the basic work most needed to be promoted by Internet finance is to improve relevant laws and regulations, 43% think that the financial control system of Internet finance companies should be improved and 33% think it necessary to improve the credit information system. Huang Zhen, a professor at the School of Law at Central University of Finance and Economics, pointed out that the innovation of Internet finance must achieve better risk control through technology.

"The survey results show that for the Internet finance industry, the most important task in the next period of time is to raise the level of credit risk control through such measures as legislation, risk control and credit information system construction."

After a year and a half of Internet finance development, the scale has been very impressive. March 5, 2014 Premier of the State Council Writes Internet Finance to Report for the First Time in Government Work Report and Proposes to Promote the Healthy Development of Internet Finance and Improve the Coordination Mechanism of Financial Regulation, Affirming Affirmatively the Development of Internet Finance from the Policy Level.

Experts believe that the Internet finance combines the flexibility of the Internet and the financial industry's two characteristics of risk, so compared to the traditional financial industry, Internet finance for national legislation, corporate risk control capabilities are put forward higher requirements, Wind control is the foundation for the development of Internet finance.

At present, the awareness of Internet financial investors and consumers in this area needs to be strengthened. The other two results of this survey also fully show that only 32% of the surveyors think that the borrower's credit awareness should be raised and 28% think it necessary to raise the investor's own risk awareness.

It is understood that the central bank released in the annual report previously said that with the rapid development of Internet finance, the risk of concealment, contagion, extensive, unexpected has increased in practice, there have been some problems. The risks of Internet finance are mainly reflected in three aspects: First, the legal position of the organization is not clear and the business boundary is vague. Second, the lack of third-party customer deposit funds management system, there is a security risk fund custody. Third, risk control is not perfect, which may lead to business risks. Some Internet financial companies unilaterally pursued business expansion and profitability and adopted some controversial and high-risk trading models. They also did not set up customer identification, transaction record keeping and suspicious transaction analysis reporting mechanisms, so as to make it easy for criminals to use the platform to launder money etc. Illegal activities to create conditions; there are some Internet companies do not pay attention to internal management, information security protection is low, there is the risk of personal privacy disclosure.

Huang Zhen, a professor at the School of Law at Central University of Finance and Economics, pointed out that the innovation of Internet finance must achieve better risk control through technology. Huang Zhen said Internet finance due to cloud computing, big data, mobile positioning and other technologies, can better identify its risk, quantify risk, control risk, transfer risk and disposal risk, early warning risk. In addition, through the design of Internet technology process, once the risk appears, it will be disposed of immediately. Just like the fuse, the electricity flow will be cut off immediately if there is a problem with flow rate. Internet technology is easy to appear and the assets are isolated. Therefore, when making Internet financial innovation, we must strengthen risk control.