The Innovation Model of Risk Control of Fintech and Regulatory Sandbox
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The rise of anything is by no means an accident. As a new financial form brought about by technological innovation, the emergence of fintech is the result of the interaction between certain external conditions and internal needs. Relying on the application of cutting-edge technologies such as blockchain and big data, financial science and technology subvert the credit center service model in the banking sector, forming a huge impact and challenge to the traditional financial industry. However, its rapid development brings difficulties to financial regulation, which brings forth the contradiction between the traditional regulatory mode and the current development of financial technology. The proposal of regulatory sandbox mode opens the way for innovation of risk prevention and control mode, and it is also a new thinking for the development of regulatory science and technology in China.
Financial technology, Regulatory sandbox, The risk prevention and control