The development of the Internet in finance

Internet finance is the result of the new development of Internet and finance in the 2013. It relies on the cloud computing, large data, electric business platform and search engine and other Internet tools to produce a new financial model, the function is very wide, with financing, payment and transaction intermediary. At the same time, the gradual rise of internet finance, not only beneficial to the traditional financial industry to supplement and extend, but also to help solve the problem of SME financing, to promote more standardized private financing, sunshine, better support the real economic development. The following are the six major models of internet finance.

(a) Third party payment, refers to a certain reputation protection of independent institutions, through the contract with the bank to provide payment settlement interface of the trading platform. As the current main network trading means and credit intermediary, the third party payment market is entering a mature period, so far more than 200 enterprises have received the payment business license, in 2012, the third party payment transaction size reached 3.8 trillion yuan. Third party payment representatives have Alipay, Tenpay, fast money, micro-letter payment.

(b) Network micro-credit, refers to the Internet enterprises to the E-commerce platform accumulated customer credit data and behavior data mapping for enterprises and individuals credit evaluation, batch distribution of small loans. The network microfinance will combine the large data processing and cloud computing technology, and excavate the useful customer credit information from the huge amount of datum, which has the characteristics of "small amounts, short term, pure credit and accompanying with loan". Network micro-credit representatives have Ali small loans, suning easy to buy and Jingdong Mall supply chain finance.

(c) Internet financial channels, refers to the use of E-commerce Web site A large user base, the financial products and network services in depth, with the help of Internet channels to provide financial services to customers. Users can buy money funds and other financial products directly on the Internet, to obtain relatively high profits, while this part of the funds can be used for online shopping, transfer payments and so on. Compared with the traditional financial products, there is no limit to buy the threshold, no handling fees, at any time to redeem the advantages. The representative of Internet financial channel has the balance treasure, fixed deposit treasure.

(d) Peer-to-peer network credit, refers to peer-to-peer companies to set up a network platform, the demand for funds and supply information directly on the Internet to publish and match, the capital supply and demand direct contact, bypassing banks, brokerages and other third-party intermediaries, to provide users with direct investment, financing services, its essence is a kind of private lending way. According to statistics, the current domestic active Peer-to-peer platform has more than 300, 2013 Peer-to-peer Network loan scale will be expected to reach hundreds of billions. Peer-to-peer Network Credit on behalf of people who lend, Pat credit, appropriate letter.

(e) Internet financial Portal refers to the financial institutions of the financial products on the Internet platform, users through the use of loans, amounts and terms such as screening and comparison, select the appropriate financial services products, its core essence is "search + parity." In this mode, the Internet financial portal plays the role of information intermediary, and does not participate in transaction and fund exchange. Internet financial Portal Model of the representative of 360, lattice on financial management, peace Lu Jin.

(vi) The public-chip model refers to the project sponsors ' use of the Internet and the communication characteristics of social networks, to show their ideas to the public, to gain sufficient recognition and support, and to solicit public funds. Public-funded projects in the form of in-kind, services or media content in return, but can not involve capital or equity. At present, China's public-funded platforms are mostly public welfare and charitable color. The representative of the public-chip model has a naming network, dream-chasing network.

The six characteristics of the current Internet finance

(i) Low cost. Under the mode of Internet finance, both sides of capital supply and demand can complete information screening, matching, pricing and trading through network platform without traditional intermediary, no transaction cost and no monopoly. On the one hand, financial institutions can avoid the opening of business outlets of capital investment and operating costs; On the other hand, consumers can quickly find their own financial products on an open and transparent platform, weaken the information asymmetry and save time and effort.

(ii) High efficiency. The Internet financial business mainly by computer processing, the operation process is completely standardized, the customer does not need to wait in line, the business processing speed, the user experience is better. such as Ali small loan relying on the accumulation of credit database, through data mining and analysis, the introduction of risk analysis and credit investigation model, merchants from the application of loans to release only a few seconds, daily average can complete loans 10,000, become a real "credit factory."

(iii) wide coverage. Internet financial model, customers can break through the constraints of time and region, the Internet to find the need for financial resources, financial services more direct, more extensive customer base. In addition, the Internet financial customers to small micro-enterprises, covering some of the traditional financial services in the blind zone, is conducive to enhancing the efficiency of resource allocation to promote the real economic development.

(d) Rapid development. In recent years, relying on the development of large data and e-commerce, internet finance has been growing rapidly. To balance treasure For example, the balance treasure on line 18 days, the cumulative number of users reached more than 2.5 million, the cumulative transfer of funds reached 6.6 billion yuan. According to reports, the current balance treasure scale of nearly 50 billion yuan, on the line so far daily average of 500 million yuan growth, has become the largest public offering fund.

(v) weak management. One is the weak wind control. Internet finance is not yet connected to the People's bank credit system, also does not exist the credit information sharing mechanism, does not have the similar bank's wind control, the compliance and the clearing mechanism, is apt to have each kind of risk question, at present has the public credit net, the net wins the world and so on Peer-to-peer network loan platform announces the bankruptcy or stops the service. Second, the weak supervision. Internet finance in our country is at the beginning stage, there is no clear regulation and legal constraints, lack of access threshold and industry norms, the entire industry faces a lot of policy and legal risks.

(vi) High risk. First, the credit risk is big. At present, China's credit system is not perfect, the relevant laws of internet finance have yet to be matched, the Internet financial default cost is low, easy to induce malicious loan, such as the risk of running the money. In particular, Peer-to-peer Network loan platform due to low access threshold and lack of supervision, become outlaws engaged in illegal fund-raising and fraud and other criminal activities of the hotbed. Since last year, gold-mining loans, excellent easy nets, Aetna excellence, such as Peer-to-peer network loan platform has exposed the "run" incident. The second is the network security risk is big. At present, the Internet security problem of our country is outstanding, the network financial crime problem cannot be neglected. Once the hacker attacks, the normal operation of Internet finance will be affected, endanger the financial security of consumers and personal information security.

Third, the commercial bank's countermeasure suggestion

(a) Rational view. As a new thing, internet finance has developed rapidly in recent years, which has created "eyeball effect". But the transaction scale of internet finance is relatively small, it will not shake the traditional business model and profit way of commercial bank in the short term. The traditional commercial bank's public prestige is high, the capital strength is abundant, the infrastructure is perfect, the physical network distribution is widespread, has the legally recognized reserve System, accepts the full strict supervision, has established the tangible trust which can be seen. In addition, some financial business needs professional experience and judgement, information technology can not be completely replaced. In this sense, the current internet finance is more like a supplement to traditional commercial banks, improve the efficiency of traditional finance, expand the scope of services.

(b) Change of mindset. The advent of Internet finance has accelerated the financial media, Internet financial enterprises are relying on the advantages of data accumulation and mining, accelerate the distribution in the supply chain, small micro-enterprise credit and other areas of expansion, the future may impact the core business of traditional commercial banks, Rob Bank customer resources, alternative banking physical channels, Subvert the bank's traditional business model and profit way. To this, the commercial bank should change the development idea, truly take the customer as the center, is in danger, prepares for the rainy day, innovates the business model, constructs own unique value chain.

(iii) Fusion symbiosis. Internet finance and traditional finance are not a kind of pure competition relationship, there is a great fusion space between them. Internet finance has the advantage of large data in channel, innovation and customer demand, while the advantage of traditional commercial Bank is to grasp financial risk, have stable basic financial service and mature risk control system. On the one hand, traditional commercial banks can absorb and apply Internet finance technology and organization mode, realize their own transformation and adjustment; On the other hand, the cooperation between Internet financial companies and traditional commercial banks can improve their financial ability and control level. Commercial banks should further consolidate the advantages of the field, at the same time actively embrace the Internet, adapt to the trend, the depth of integration of Internet technology and banking core business, improve customer service quality, expand service channels, better service to the real economy.