Developing A Risk Control System for Fintech Products Using Big Data and Real-Time Analysis Technology
DOI:
https://doi.org/10.54097/tvfs3t42Keywords:
Big Data Technology; Financial Technology; Control of Risk Introduction.Abstract
Big data technology has revolutionized the financial sector, significantly impacting the design and operation of future financial products. This paper explores the use of big data technology in risk control in financial products, examining its potential benefits and challenges in product design. By briefly introducing the operation logic of big data, this paper analyzes the application of big data in financial products for risk control and the challenges it faces. The study reveals that big data technology enhances the efficiency of financial technology companies in internal management and decision-making, while significantly reducing systemic risk in their financial product design. Big data technology has exacerbated the conflict between traditional financial institutions and fintech companies, as well as the interest conflict between fintech companies, users, and regulatory authorities. Therefore, Big data financial products not only need to improve their information processing methods and information analysis methods internally, but also need to deal with the conflicts between their users, issuers, and financial regulatory authorities and with the traditional financial sector.
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