The Transformation of Financial Supervision Paradigm Under the Background of Financial Technology Based on Computer Technology

Abstract

While improving financial efficiency and enriching financial products, financial technology has also brought about the generalization of financial risks. The financial rules under the traditional financial supervision paradigm are usually the product of crisis-based legislation and regulation. They are characterized by “command and control” and cannot cope with the pan-financialization brought by financial technology, the frequent financial risks, the endogenous and exogenous financial systems. Risk and other issues. The transformation of the financial regulatory paradigm is imperative. According to the analysis of big data, the new paradigm of financial supervision requires the establishment of cross-industry risk supervision institutions on top of specialized financial supervision institutions to prevent risks from being passed inside and outside the financial system. Requires adaptive supervision to reasonably allocate financial rule-making powers among financial legislatures, financial regulatory agencies, and regulated institutions; requires experimental supervision to deal with time-consuming issues of supervisory intervention; requires real-time or true data-driven supervision.