Research On Construction Of Internet Financial Credit System And Risk Management

With the development of big data informational technology,Information will be embodied in the innovation essence of Internet finance as a value-creating asset.The intermediary functional of information value will further solve the asymmetry of market information and further reduce transaction costs.As an information intermediary platform,Internet finance provides credit service with the innovative mode of" disintermediary of traditional bank " and " inclusive ",and expands the credit boundary of the traditional finance,and improves the market efficiency of the traditional finance,and realize the democratization of financial participation.At present,Internet finance is still in the initial stage of innovation and development.Because of the lack of internet financial credit system,although the market innovative models emerge in endlessly,there are still great financial risks and security problems.It is of theoretical and practical significance to study how to realize innovative and sustainable development of the Internet finance.In view of the innovative risk of Internet financial and borrowers’ discredit behavior,this paper argues that the construction of Internet financial credit system and platform risk management needs to accurately grasp the innovation essence of Internet finance " disintermediary of traditional bank " and the intermediary function of the value of information.Governance of serious information asymmetry between borrowers and investors based on the value of information.Using the relevant information cognition theory,reputation mechanism theory,and behavioral decision-making theory under uncertainty,the study of this paper focuses on the construction of Internet financial credit system,the risk management of Internet financial platform,and the construction of law and government supervision system.Firstly,by examining the problem of incomplete financial information and the performance of dishonesty behavior of borrowers at present,this paper puts forward that since the limited rationality of borrowers and platform have not established an effective trust link between the investors and the borrowers,there is a greater problem of information asymmetry between the investor and the borrower.Furthermore,the paper analyzes the reasons of borrowers’ dishonest behavior,and points out that the asymmetric market information leads to the borrowers have low return of keeping his word and higher income of dishonesty,and that the financial credit system of Internet is not perfect,the lack of a combined punishment system leads to the lower cost of borrowers’ dishonesty,and that the lack of integrity culture leads to the low return on keeping one’s word,and so on.These situations can easily let borrowers to take advantage of the limited rationality of investors to act dishonestly.Secondly,the construction of Internet financial credit system is the premise and foundation of risk management of platform.Based on the theory of reputation mechanism,this paper puts forward that reputation mechanism,as a recessive institutional arrangement,has the advantages of self-implementation,low cost,strong deterrent and so on.It can more widely and better regulate the behavior of borrowers.Reputation mechanism,as an informal institutional arrangement,includes reputation operation mechanism and reputation punishment mechanism.On this basis,this paper put forward three aspects of the construction of Internet credit system,such as the construction of information sharing and information security,the construction of big data credit in Internet finance,and the construction of Intrusive punishment mechanism.And put forward the corresponding construction measures,such as the establishment of a platform of all-dimensional information sharing database,information sharing and information security mechanism,further improve the personal credit database,diversified credit service system,the marketization mechanism and supervision mechanism of credit investigation industry,the responsibility and obligation of discipline subject,and the "blacklist" system of discredit behavior are established.Thirdly,this paper analyzes the actual risks in the Internet financial market,and points out that in the absence of a sound credit system,borrowers can easily use the limited rationality of investors to publish false information through the platform.Or raise false credit benefits and promises,wantonly leverage to obtain the maximum return.Based on the investigation of the lack of risk management in P2P network loan market at present,the measures of Internet financial risk management are further put forward,such as the construction of big data artificial intelligence application scenario,the construction of big data wind control mode which conforms to the characteristics of Internet financial operation.Strengthen the construction of third party management,implement adaptive management of investors and establish risk business education mechanism.Fourth,In the face of financial innovation,the optimal financial regulatory system should be in the micro market regulating the behavior of market transactions,protection of rights and interests of market main body,and it is strictly prohibited to fraud,at the macro level,not only to maintain stable and sustainable environmental laws and regulations,but also continuously adapt to market changes,timely revised or supplement corresponding legal laws and regulations,this paper studies law and the internet financial government supervision system construction.and put forward the legislative development of Internet financial should be strengthened in seven aspects:platform behavior,third-party payment,third-party deposit,anti-money laundering and illegal fund-raising,consumer rights and interests,information management and information security,crisis management and withdrawal.The two basic goals of internet financial regulation are to protect the rights of consumers and guard against financial risks.The principle of Internet financial regulation is that under the innovation environment of big data information technology,can be realized open.coordinate and integrate supervision effectively.The subject of internet finance supervision should highlight responsibility and functions of systemic supervision,and on the basis of separation supervision,strengthen the duties and coordination supervision of the people’s bank of China,The paper puts forward some measures on government regulation of Internet finance:The one is establishment of systematic and long-term laws and regulations system,promoting govenal legalizatio construction;The two is to clarify the subject of government regulation,establish functional regulatory system,and abolish the institutional supervision model;The three is to clear the principle of classified supervision and prudent supervision,which is the core of the prevention of risk;The four is we should establish a large data-driven risk monitoring system to effectively monitor the systemic risks.The five is to establish cross-regional and cross-industry supervision and coordination mechanism;Sixth,to establish the principle of self-regulatory supervision.The innovational research of this paper exist in that under the big data background,this paper tightly grasp innovational essence of "disintermediary of traditional bank " in internet finance,The research thinking starts from exerting the intermediary function of information value.In order to solve the discredit behavior of borrowers in Internet financial,we can systemly propulsion the innovation and development of Internet finance from three aspects:credit system,platform risk management,law and government supervision.supervision.