The difference between these two concepts is that:
1. The "technology" in financial technology is a financial service based on Internet technology;
2. technology and finance's "technology" is a financial service based on mobile Internet.
First, the development of American consumer finance began to break out in the form of credit cards in the mid-1980s, and 1985 was the first year of American consumer finance. At present, many large credit card companies, whether bred from the parent bank or established separately, were established after 1985. From 1985 to 20 10, American consumer finance experienced an explosive linear growth.
Second, technology is not a strange concept in providing financial services. Before the concept of financial technology appeared, there was a technology that was widely used in the financial field in the 1990s, called information technology. At that time, large credit card companies and financial companies in the United States used information technology to expand the scope and reach of financial services, which made consumer finance in the United States develop very fast. But at the end of last century/the beginning of this century, new technology changed our behavior and lifestyle, that is, the Internet. Internet technology has broken some of the media and tools we use to provide financial services, so from 2000 to 20 10, large credit card companies and financial banks in the United States began to transform the Internet, and everyone rushed to establish websites to make financial services more convenient.
Third, the concept of financial technology appeared after the American financial crisis. After 2008, due to the financial crisis, all banks, credit companies and credit card companies have shrunk their lending efforts, so the P2P lending model appeared. Lending Club and Prosper, which we are all familiar with, are two major P2P platforms in the United States, which connect ordinary idle funds and provide consumers with the assets they need. After this P2P model came into being, the concept of financial technology was introduced, which means that financial services use technology to improve their service intensity and efficiency, which is an extension from the inside out. Technology and finance are a phenomenon in China, and some large technology companies are expanding into the financial field. As we all know, Ant Financial was conceived by Alibaba, JD.COM Mathematics by JD.COM E-commerce, 360 Finance by 360 Antivirus Software Technology Company and Xiaoman Finance by Baidu. Therefore, the law of development is that a large mobile internet company breeds a technology company and expands into the financial field.