What's the difference between "tech finance" and "fintech"?

Conceptually,

Fintech is an industry that uses cutting-edge technologies such as artificial intelligence, credit investigation, blockchain, cloud computing, big data and mobile Internet to serve the improvement of financial efficiency. Technology finance, which is based on finance, is a financial business form and financial product that can efficiently and controllably serve scientific and technological innovation and entrepreneurship by using financial innovation. Therefore, although they look very similar, they are actually quite different, mainly reflected in the following points:

1. Different foothold

The foothold of fintech is that it has the infrastructure attribute of providing technology services for financial business. Alongside them are military technology, biotechnology and so on. The foothold of science and technology finance is finance, which is the financial business form, service and product used to serve scientific and technological innovation. It is a typical representative of finance serving the real economy. And its parallel concept of consumption finance, rural finance and so on.

2. Different goals

The goal of developing fintech is to use technology to improve the overall efficiency of finance. The goal of developing science and technology finance is to use the innovation of financial services to play a role in the real economy and promote science and technology innovation and entrepreneurship. 3. Participants of different fintech entities are technology-driven enterprises represented by technology enterprises, Internet enterprises and technology-oriented Internet financial enterprises. The main body of science and technology finance is the financial industry represented by traditional financial institutions and Internet finance.

4. Different ways of implementation

The way fintech innovation happens is through technological breakthroughs. The way to realize the innovation of science and technology finance is the research and development of financial products.

5. Different product forms

The specific products of fintech include: third-party payment, big data, financial cloud, blockchain, credit investigation, AI, biological wallet and so on. The specific products of science and technology finance include: investment and loan linkage, science and technology insurance, science and technology credit, intellectual property securitization, equity crowdfunding and so on. At present, China has become the most core market of global fintech, and quantitative investment -- artificial intelligence stock investing has also set off an investment revolution. Looking back at the intersection of technology and finance, it is interesting to note that players often change their names to prove their change. From the early days of Internet finance, to the later fintech, and now new finance, this is almost always the case. Once upon a time, the name change became a clarion call for players to adjust their growth strategies. However, just changing the name, without changing the internal development logic, no matter how innovative the name change is. So there's more to so-called fintech than just changing names. In addition to the name change, I think more fundamental changes to the traditional business model, operational logic and strategic approach. Only in this way can we really jump out of the traditional development ideas. Therefore, the so-called name change, not only the name change is so simple, we need to change more is the way and method of the combination of finance and technology and the combination of finance and technology after the landing and application of innovation. From the point of combination method, the combination of financial and technology, not just a coat covered with science and technology, engaged in financial business hang sheep head sell vinegar operation, but should really make regression financial technology itself, the financial have new change, boost financial development better, rather than let financial development more brutal, in short, financial supply is difficult to meet the needs of financial, as a result, Criticisms of finance are beginning to emerge. For fintech, the new mission it should undertake is to achieve a new balance between financial supply and demand, so that finance can better serve the real economy. If the new mission of fintech does not achieve this, then it is still not free from the constraints of the old development model. It is for this reason that we can be sure that the new mission of fintech is to find the right way and method of financial supply to the real economy, realize the balance between financial supply and financial demand, make finance become the booster of the industry again, and make finance become the "capillary" and "infrastructure" of the industry again.