The booming of financial technology is reshaping the financial business model and poses greater challenges to financial regulation. In terms of financial regulation, the Securities Daily reporter found that more and more listed companies and Internet giants rely on their own technology. Or the advantage of data, is pushing the upgrade of regulatory technology.
BAT frequently 'falling' supervision technology
On August 16 this year, Jingdong Financial Research Institute released the supervision and technology report "Suptech: The use of regulatory technology in the supervision side". The report pointed out that financial technology brings new risk scenarios and risk characteristics, and also requires the regulatory body to use technology to technology. 'To respond positively. 'The application of regulatory technology on the regulatory side has two major drivers: On the one hand, after the global financial crisis in 2008, financial regulation has received unprecedented attention, and regulators are eager to obtain more comprehensive and accurate data; On the other hand, in the face of the massive data submitted by financial institutions, the regulatory authorities need to use technology to improve processing efficiency and regulatory effectiveness.
"Securities Daily" reporter found that since last year, more and more Internet companies have begun to 'de-financialize', claiming to be a financial technology company, and helping financial technology supervision and upgrading is one of the core directions of its transformation. Among them, BAT uses itself. AI, big data and other technical advantages, its layout speed ranks in the forefront of the industry.
Among the Internet giants, Baidu announced its achievements in helping financial regulation earlier. In May last year, Baidu Finance (now Xiaoman Finance) announced that it jointly launched the 'Guizhou Financial Brain' with the Guizhou Provincial Government Financial Office and the Big Data Bureau. Established the first intelligent financing platform for small and medium-sized enterprises that opened up government, enterprises, financial institutions and Internet data, providing comprehensive evaluation systems for small and medium-sized enterprises, financing, and intelligent supervision.
It is reported that using the artificial intelligence technology represented by 'Baidu Brain', 'Guizhou Financial Brain' can extract information of multiple data dimensions and form corporate portraits and comprehensive evaluation reports based on machine learning to accurately assess corporate credit risk. Collect and analyze several daily life information indicators, and carry out post-lending risk prediction and monitoring. At the same time, significantly improve the level of financial supervision intelligence, which can be used to carry out a new exploration of regional financial supervision and monitoring.
In the case of Alibaba, through the Ant Financial, its layout speed is also in the forefront of the industry. Since April this year, Alibaba has reached cooperation with at least 7 financial bureaus (offices) such as Beijing, Guangzhou, Xi'an, Tianjin, etc. Ants risk the brain', enhance the ability of science and technology supervision, and prevent financial risks of stakeholders. At present, more local regulatory authorities are also conducting intensive investigations and investigations.
It is reported that the 'Ant Risk Brain' can establish a risk model based on the characteristics of financial risks and the expertise provided by local regulatory agencies, from the perspectives of corporate equity, business compliance, product management, public opinion analysis, and negative complaints. Illegal financial risks, business risks and compliance risks of relevant financial institutions, and after the risk is determined, the regulatory authorities are provided with the basis for disposal.
Tencent signed a strategic cooperation agreement with Shenzhen Financial Office at the end of 2017 to jointly develop a financial security big data supervision platform based in Shenzhen. Through financial risk identification and monitoring and early warning, it will help local financial supervision, ensure financial business security, and prevent and control finance. risk.
According to the data, Tencent’s self-researched financial security big data monitoring platform, Lingbi, has achieved remarkable synergy between the government and enterprises within 100 days after the landing of the Shenzhen demonstration site, and has warned two batches of 22 financial risk companies, one of which has been filed. In addition, the submission of a non-united office to the State Office issued an early warning. In addition, the platform has now achieved full coverage of local financial institutions in Shenzhen, with an accuracy rate of over 95%.
Why are Internet companies keen to participate in technology regulation?
Why do Internet companies frequently cooperate with regulatory authorities to promote the development of regulatory technology? Recently, the "Suptech: The Use of Regulatory Technology in the Supervision Department" issued by the Jingdong Financial Research Institute pointed out that financial regulators are also seeking to cooperate with banks in addition to their own technology research and development. Research and development models such as financial institutions and third-party institutions such as financial technology companies.
According to the report, this mode of cooperation not only saves the research and development costs to a certain extent, but also supervises and manages the regulated institutions in a more targeted manner, because it is easier to find in the process of cooperation with the regulated institutions. The existing problems, and targeted, timely guidance, to help them to do a good job in the regulatory technology of the regulatory end.
At the same time, some analysts believe that the cooperation between Internet companies and financial regulators will help them gain more business opportunities in large-scale technology upgrades of financial institutions. Currently, mainstream financial institutions, including commercial banks, securities companies, etc. Both are greatly increasing their investment in technology, which is very attractive to Internet companies that transform financial technology.
Some insiders believe that with the cooperation between local regulatory authorities and technology companies, the regional nature of Internet finance will be smoothed out, and the risk prevention experience of various places can be further shared, which will become the general trend in the foreseeable future.