Development and Protection of Internet Finance in the Era of Big Data

Abstract

Starting from 2016, big data is widely used. The world has also entered the era of big data. Internet finance is also a topic that has received a lot of attention in recent years. Together with the arrival of COVID, Internet finance is developing rapidly. Internet finance will become more of a big trend in the future. People primarily use third-party payment, online lending, direct fund sales, crowdfunding, online insurance, banking, and other similar services. At the same time, Internet finance also brings more new opportunities to the financial sector, but the new opportunities and innovations also bring some risk factors. Starting from the current situation of Internet and big data, the article finds that how to control financial risk and credit risk is a problem that needs to be addressed vigorously nowadays. Developing a good personal credit system is also a practical action that needs to be put in place. Through SWOT analysis and questionnaire, we analyze the public perception of the Internet and the credit risks in the development of Internet financial innovation, from which we can provide solutions to improve the regulatory power, thus promoting the safe and efficient development of Internet finance. In addition, through literature view, we analyze how to enhance people's privacy and the credibility of Internet finance.