Discussion of the Risks and Supervision of Financial Big Data Applications

Abstract

With the innovation of big data finance, the existing financial industry and financial institution structure have been affected to a certain extent, and the risk of financial market has undergone a profound change. In the development of Internet finance, big data technology has been recognized and widely used in various industries, financial big data and Internet finance are two important players to transform the competitiveness of the financial industry for Chinese financial ecology. In order to identify the risks in financial markets in the application of financial big data, we need to make clear the characteristics of financial big data. The essence of big data finance is financial innovation. In the process of financial innovation, it not only increases the volatility of the financial system, but also causes the homogenization of financial market. The purpose of this paper is to analyze the risks of big data in finance, to clarify the important matters of financial big data supervision, and to improve the relevant laws and regulations, strengthen the information sharing mechanism and other big data financial supervision measures in view of the existing data monopoly, personal privacy leakage and many other issues, and to provide theoretical reference for the development of big data finance and the ecological stability of financial market in China.