I. Different coverage:
1, FinTech is financial technology, which Wharton Business School defines as "an economic industry that uses technology to improve the efficiency of the financial system". Therefore, FinTech can generally refer to all financial technology companies whose core business is the innovation and application of big data, cloud services and Internet IT technologies, and whose core business is the innovation of industry models, products and services.
2. Internet finance, namely "Internet plus finance", is defined by Baidu Encyclopedia as a new financial business model in which traditional financial institutions and Internet companies use Internet technology and information communication technology to realize financing, payment, investment and information intermediary services.
3. Internet finance pays more attention to Internet technology and information communication technology; FinTech includes all technological innovations and applications that can be applied to finance.
Second, the significance of development is different:
After 1 and the subprime mortgage crisis in the United States in 2007, FinTech financial technology, as an emerging industry that improves the efficiency of financial services by means of science and technology, has begun to receive high attention from venture capitalists. At present, Fintech's financial technology is developing rapidly in Europe, America, Britain, Asia-Pacific, China and Japan, as well as Jordan, Israel and other countries in the Middle East.
2. Internet finance, marked by the emergence of online financial management "babies" such as Yu 'ebao, began to really enter the public eye. The demand gap in inclusive finance caused by long-term financial repression has made many emerging Internet finance companies grow rapidly under the regulatory environment of Pratt & Whitney. Internet finance is an extremely important financial sector foundation in the internet plus system.
3.FinTech is the technological revolution of new and old financial enterprises, and Internet finance is more like a trap of Internet-based financial services.
Third, promote different themes:
1.FinTech improves the traditional financial system with innovation and realizes deep structural optimization. All financial service participants, from large financial institutions and enterprises to high-net-worth people and the general public, are the audience of FinTech;
2. Internet finance is more the grafting of traditional finance on the Internet, or the initial exploration of Internet companies in the financial field. Mainly to meet the unmet needs of the current financial system, focusing on the policy arbitrage under the current inclusive regulatory environment, not promoting the industry level enough, and the financial system structure has not fundamentally changed.
3. Internet finance is a one-sided war of resistance, and FinTech is a comprehensive war of resistance.
Fourth, the service direction is different:
1, FinTech focuses on achieving better financial services through scientific and technological means; From the form of FinTech companies, they are all companies that directly provide financial services or provide FinTech technical service support and indirectly participate in financial services.
2. Internet finance focuses on financial services that meet the needs of Internet users; From the form of Internet finance companies, both Internet companies join financial elements and traditional financial companies graft the Internet to serve in a more information-based way.
3. Internet finance is inclusive finance, making financial services civilian; FinTech allows users at different levels to get better services on the original basis.
4. In short, Internet finance is actually the product of the initial stage of "localization" after FinTech entered China. After a wave of exploration by pioneer enterprises, due to the influence of realistic factors such as financial foundation and service population, the difference between Internet finance and FinTech gradually emerged. Nowadays, more and more people are beginning to face up to the difference between them. Internet finance will encounter the bottleneck of scale and competitiveness development due to the limitation of its technology and industry model. Obviously, the advantages of covering technology, finance and inherent cross-domain integration give FinTech strong and flexible environmental adaptability, and will absorb the essence of various fields in a way that draws on others' strengths and promote the evolution of Internet finance in a more advanced and sustainable direction.
5. In the future of financial circles, FinTech will be a "ruthless role" with "both civil and military skills", and vindicate himself with strength.