When the Internet wave first came over, many people were speculating whether bank branches in various places would soon be closed.
After all, you can get loans and buy financial products with just a few clicks on your mobile phone. Who wants to wait in long queues at the counter?
A few years later, things were not that simple.
There are many friends around me who operate various financial management apps on their mobile phones. However, they still go to offline bank branches to handle mortgage loans, car loans and large deposits, just to seek peace of mind.
This made me gradually realize that the relationship between Internet finance and traditional finance is not actually about one replacing the other, but closer to "borrowing" each other.
The convenience brought by the Internet has really hit the pain point
When it comes to why Internet finance has become so popular, the answer lies in our daily lives.
In the past, to run a business, you had to ask for leave, queue up, and fill out a bunch of forms.
What now?
At ten o'clock in the evening, you curl up on the sofa and open the mobile APP. Within a few minutes, you can complete a financial purchase or apply for a small consumer loan.
What this relies on is big data and artificial intelligence technology. The platform can quickly analyze our credit and needs, and then push appropriate products.
Many friends in remote areas can use convenient and low-threshold financial services for the first time, thanks to this so-called "borderless" service.
It can be said that it has truly extended the financial "capillaries" to a wider area.
The foundation of traditional finance will never be replaced by anyone.
However, it is unrealistic to say that traditional banks are “going cold”.
Have you noticed that bank mobile apps have become more and more useful in recent years?
There are many functions for transferring money, managing money, and even opening accounts remotely.
What they hold in their hands is accumulated over decades. credit system and Risk control model .
Especially when dealing with large amounts of funds and complex businesses, it is difficult for many new platforms to achieve such rigor and stability.
Moreover, banks are subject to very strict supervision and the safety of funds is more guaranteed.
In the opinion of most people, if the money accumulated in their hands is placed in a bank with a physical business location and subject to state management and supervision, they will feel more secure.
This sense of trust cannot be established overnight.
New things emerge and bring new problems
Internet finance is running fast, and problems are coming along with it.
The most worrying thing is that regulation sometimes cannot keep up with the speed of innovation.
Some online loan platforms that have experienced explosive situations in recent years, under the banner of so-called "high returns", are actually engaging in high-risk operations, which has caused many people to fall into them.
In addition, this asset-light model has relatively weak anti-risk capabilities when it encounters violent market fluctuations. If a problem occurs, the range of users involved will be particularly wide, and the risk will be transmitted very quickly.
There is another point that each of us will be concerned about, that is Data security .
Once financial information is leaked, the consequences will be disastrous.
These new challenges must be faced squarely in the development process.
Has the risk increased, or can it be managed?
In this way, does the emergence of Internet finance indicate that the risks of the entire financial system have increased?
I don't think we can draw a simple conclusion.
Risks exist objectively, but the key lies in our ability to manage them well.
At this point in time, regulatory departments are also using new technologies to manage other new technologies. For example, artificial intelligence technology is used to monitor transactions with abnormal situations, and blockchain technology is used to prevent data from being tampered with.
At the same time, the Internet platform has shown a trend of transparency, which has made information more open. Users can more clearly understand the risk status of products, thereby reducing the trouble caused by information asymmetry.
If supervision can keep up, and if risk control methods are smart enough, then risks can be effectively controlled within a reasonable range.
The future trend is the integration of "you and me"
Looking at the past few years, you can find a particularly interesting situation: traditional banks have begun to cooperate with Internet platforms to launch jointly customized financial products. This product has both the robustness of banks and the convenience of the Internet.
Some Internet platforms are also actively applying for financial licenses and moving closer to the regular army.
This shows that both sides are learning from each other.
In the future, the financial system will no longer be a black and white choice, but will be a diversified and intelligent ecosystem.
Technology will continue to play a key role in helping us better manage risks and enhance experiences.
Supervision will become more refined, and it will no longer be a "one size fits all" situation, but will be classified and managed based on the characteristics of the business.
In the final analysis, the rise of Internet finance is a change driven by technology and demand.
It has not eclipsed traditional finance, but has forced the entire industry to upgrade.
For us ordinary people, this means more choices and more convenient services in the future.
If we accept changes with an open mind, remain rational at the same time, and do not blindly pursue high returns, then the financial world in the future will be more reliable and richer.
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