Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)

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The Impact of Internet Finance on Traditional Finance and the Analysis and Outlook of the Development Background

Authors
Anqi Cheng1, *, †, Jiale Shen2, †, Xinlei Wu3, †
1School of Foreign Language, Beijing Institution of Technology, 100000, China
2Yew Chung International School of Shanghai, Shanghai, 200127, China
3Chemical Engineering and Technology, Eastern China University of Technology, Nanchang, 330013, China
†

These authors contributed equally

*Corresponding author. Email: 201820100107@mail.ecust.edu.cn
Corresponding Author
Anqi Cheng
Available Online 29 April 2022.
DOI
10.2991/aebmr.k.220405.192How to use a DOI?
Keywords
Internet finance; fintech; big data
Abstract

With the rapid development of digital technology, Internet finance has gradually become the mainstream trend in the development of the financial industry. This paper aims to analyze the influence of Internet finance on different aspects of the traditional financial industry in the current society. PEST analysis is adopted to look at Internet finance from different perspectives including Policy, Economy, Social, and Technology. Four of the factors constitute the main reasons for the birth and rapid development of Internet finance. Furthermore, the study also identified the cooperation between Internet Finance and traditional commercial bank by analyzing the acquisition of customers based on Internet Finance and the use of big data. Internet finance has entered an era of diversification, which is also the main trend of the financial industry in the future driven by the background of the times.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article distributed under the CC BY-NC 4.0 license.

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Volume Title
Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
29 April 2022
ISBN
978-94-6239-572-5
ISSN
2352-5428
DOI
10.2991/aebmr.k.220405.192How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article distributed under the CC BY-NC 4.0 license.

Cite this article

risenwbib
TY  - CONF
AU  - Anqi Cheng
AU  - Jiale Shen
AU  - Xinlei Wu
PY  - 2022
DA  - 2022/04/29
TI  - The Impact of Internet Finance on Traditional Finance and the Analysis and Outlook of the Development Background
BT  - Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)
PB  - Atlantis Press
SP  - 1158
EP  - 1164
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220405.192
DO  - 10.2991/aebmr.k.220405.192
ID  - Cheng2022
ER  -