Proceedings of the 2023 3rd International Conference on Public Management and Intelligent Society (PMIS 2023)

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A Study on the Mechanisms and Risk Challenges of Fintech-Driven Financial Business Innovation

Authors
Dong Wang1, 2, *, Hao Chen3, Jingli Feng1, 2, Jianping Huang3, Xiaoxiao Ma1, 2, Xiaowen Wu1, 2, Aosen Zhu1, 2
1State Grid Digital Technology Holding Co., Ltd, Beijing, China
2State Grid Blockchain Technology (Beijing) Co., Ltd, Beijing, China
3Electric Power Research Institute of State Grid Zhejiang Electric Power Co., Ltd, Hangzhou, China
*Corresponding author. Email: wangdong@sgdt.sgcc.com.cn
Corresponding Author
Dong Wang
Available Online 26 July 2023.
DOI
10.2991/978-94-6463-200-2_47How to use a DOI?
Keywords
Fintech; financial innovation; digital technology; Fintech risk
Abstract

Our research mainly focuses on the mechanism of traditional financial business innovation under the influence of Fintech and the new risk challenges posed by Fintech. Next, we focus on how to build a Fintech risk model based on a combination weighting approach. Our research discusses in detail the mechanism of financial business innovation from three aspects: how Fintech stabilizes financial markets, how it promotes financial equity, and how it promotes the development of financial inclusion. As for the risk challenges brought by Fintech, we analyze five aspects: technology risk, algorithm risk, industry transformation risk, speculative risk, and regulatory challenges. Finally, we summarize the Fintech risk assessment system based on the above analysis. Based on the summarized Fintech risk indicators, we constructed a Fintech risk model based on a combination weighting approach. This assignment model is based on the minimum discriminative information principle, which integrates fuzzy hierarchical analysis and the entropy method. We hope to analyze Fintech risk quantitatively through this model. And based on the relative size of the weights, we determine which risk is the highest and which risk is the lowest among the risk challenges posed by Fintech.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 3rd International Conference on Public Management and Intelligent Society (PMIS 2023)
Series
Atlantis Highlights in Intelligent Systems
Publication Date
26 July 2023
ISBN
10.2991/978-94-6463-200-2_47
ISSN
2589-4919
DOI
10.2991/978-94-6463-200-2_47How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Dong Wang
AU  - Hao Chen
AU  - Jingli Feng
AU  - Jianping Huang
AU  - Xiaoxiao Ma
AU  - Xiaowen Wu
AU  - Aosen Zhu
PY  - 2023
DA  - 2023/07/26
TI  - A Study on the Mechanisms and Risk Challenges of Fintech-Driven Financial Business Innovation
BT  - Proceedings of the 2023 3rd International Conference on Public Management and Intelligent Society (PMIS 2023)
PB  - Atlantis Press
SP  - 446
EP  - 456
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-200-2_47
DO  - 10.2991/978-94-6463-200-2_47
ID  - Wang2023
ER  -