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What is the financial technology that is very hot recently?
According to the definition of the Financial Stability Board (FSB), financial technology refers to financial innovation brought by technology, which can create new models, businesses, processes and products, including both front-end industries and back-end technologies.

Financial technology is based on a series of technological innovations such as big data, cloud computing, artificial intelligence and blockchain. Widely used in payment and settlement, loan financing, wealth management, retail banking, insurance, transaction settlement and other six major financial fields, is the mainstream trend of the future financial industry.

In a narrow sense, financial technology refers to innovative financial activities that non-financial institutions use technologies that can be applied to the financial field, such as mobile Internet, cloud computing and big data, to reshape traditional financial products, services and institutional organizations. Non-financial institutions engaged in financial technology generally have the characteristics of low profit rate, light assets, high innovation, large scale and easy compliance. Financial technology in a broad sense refers to the application of scientific and technological innovation in the field of financial business.

FinTech, with data and technology as its core driving force, is changing the ecological pattern of the financial industry. From 2065438 to March 2006, the International Financial Stability Board released the special report on financial technology for the first time, which gave a preliminary definition of "financial technology", that is, financial technology refers to financial innovation brought by technology, which can create new business models, applications, processes or products, thus having a significant impact on financial markets, financial institutions or ways of providing financial services.