Application Of Big Data In Risk Control Of Internet Financial Enterprises

The financial system established in China since the reform and opening up was dominated by banks,insurance,and fund bonds.In the banking system,credit unions and urban and rural banks were adopted as the secondary financial ecosystem.Since the 1990s of the 20th century,with the rapid development of Internet technology,the increasing maturity of mobile phone technology,and the promotion of policy support and information security technology for online virtual transactions by China's national policies,China's first online bank is China Merchants Bank's In 1997,the-"One Netcom" small and micro enterprises,corporate employees,and those with capital requirements were increasingly entering the lives of ordinary people for Internet loans,P2P,and collateralized loans.In addition,the advent of the online banking era has greatly expanded the sources of funding for China's small and micro enterprises and individual consumers,and solved the problem of funding difficulties for these borrowers.Internet finance business forms are various online and offline,offline loans are mainly provided by the borrower to provide proof materials in person to the loan counter,after the auto-signature is verified,the bank gives the mortgage within a certain period,and the on-site submission of visa materials includes but not It is limited to ID cards,housing ownership certificates of the People's Republic of China,motor vehicle registration certificates,detailed reports of the personal credit report of the People's Bank of China,and detailed reports on the credit report of the People's Bank of China.In addition,some loans are unsecured loan credit loans;the other is pure online credit loans,the main form of small instalments,short cycle,rapid return of capital characteristics.tranditionally,data originates from a single source and has relatively low volume,Storing,managing and analyzing such data does not present great challenges and most processing is done through relational databases and data warehouse(ShengmeiLuo 2013)The development of Internet finance has brought challenges to the traditional financial risk control system.Financial fraud has become a major public hazard in the financial sector.Financial fraud activities are networked,team-oriented and professional,and the frequency and amount of fraud are constantly increasing.Climb up(Du Bing,2015).The core part of these Internet financial phases is credit review and risk control,especially unsecured credit loans.Borrowers often use information asymmetry to forge relevant documents to defraud loans,which poses great risks to lending financial institutions.The main research area of this article is how to use the big data technology and credit scoring card model to reduce the risk of the whole process of the financing of consumer finance companies,online banking,and online small loan companies,so as to ensure the healthy development of the company's operations.In the research process,it combines the actual business case of M company,the foreign country big data risk modeling technology applied in the field of Internet financial risk control,and a large number of references to read literature and periodicals published by famous scholars at home and abroad.The research method adopted:Mainly sums up the deductive method and the case study method,and studies the risk control technology of consumer finance credit big data in the domestic Internet finance field.Combining with the credit risk control program and credit scorecards to identify feature variables related to the credit scorecard,and using statistical analysis algorithms to develop the credit scorecard model,so as to grasp the risk rule of the risk control loop node in different cities and different financial products.Formulate appropriate measures to reduce the risk of fraud,laws,and policies.For enterprises in the same industry to combine their own strategic positioning,plan risk control policies and processes that meet their own business development,and build a big data risk score card platform.The conclusion of this paper is that as the regulatory policy becomes more and more mature,the past uncontrollable risk control,and the unsupervised era of staking and racing have ceased to exist,the core competitiveness of enterprise competition will inevitably turn into the application of risk control and big data technology.Internet finance companies who use big data technology to control their risks will seize the commanding heights.