Internet Finance in the Big-data Age

Abstract

With the flourishing development of e-commerce, Internet enterprises have accumulated a huge amount of user data, and gradually obtained the needs and preferences of users. It provides financial services from the initial simple payment to transfer remittances, credit loans, asset management, and insurances, besides, has core competitiveness of ‘data utilization’, constantly mining, analyzing and studying the increasing amount of data, so as to tailor services for customers. In the era of big data, the rapid development of Internet finance also has a certain impact on the traditional financial industry, because it has altered the operation level. Furthermore, the application of big data in Internet finance is personalized, and a customer precision recommendation model based on network is established. The goal of this essay is to find out multiple applications of Internet finance and differences with banks. In respect of research result, the public really relies on it and meanwhile faces to risks. Last but not least, the continuous exploration of Internet finance is essential, as it can take the era of big data to the next level.