"Fintech and the industry can't be 'two skins'" "The essence of the financial industry can't be changed" "Strong regulation doesn't mean that the development of the financial technology industry has come to an end" "The deep empowerment of finance and technology is the key to our success. It is not that the development of the financial technology industry has come to an end" "The deep empowerment of finance and technology is a necessary path to a better world" ...... On December 17, at the 2020 Nandu Financial Summit Forum, a group of experts from the academic community, the financial industry, venture capitalists, and the financial industry were invited to attend. Academia, financial industry, venture capital industry guests, around the theme of "remodeling and transmutation - technology-driven financial empowerment of the double cycle" carried out a brainstorming, the golden sentence frequently, they were from the perspective of industry, academia, research to explain the role of modern technology such as financial technology on the empowerment of the financial industry, from which the financial and technological empowerment of the financial industry, from the perspective of the financial and technological empowerment of the financial industry. Enabling role of the financial industry, from which may be a glimpse of the beautiful vision of the future development of the financial industry. Nandu Financial Summit Forum, is the Southern Metropolis Newspaper since 2012 organized by the financial annual high-end forum, is the longest, largest and highest specification financial summit in South China, this year has been the ninth. This year's forum, the Nankai Finance (Guangdong) Chief Economist Forum and the Guangzhou Financial Services Promotion Association provided cooperation support.

"Remodeling and transmutation - technology-driven financial industry empowered double cycle" theme roundtable discussion

Epidemic inspired the financial industry to accelerate the embrace of financial technology, double cycle pattern and what are the new ideas, What are the new ideas and opportunities under the double-cycle pattern? Prof. Army, President of Lingnan College of Sun Yat-sen University, believes that under the current situation, the opportunity for the development of financial technology lies in more and deeper cooperation with traditional financial institutions, giving rise to new business forms. He said, "One Belt, One Road", RECP agreement will be the financial technology to empower the real economy, to promote economic "double cycle" development pattern of major opportunities.

The guests discussed the role of Fintech as a gas pedal of business, mainly in the case of the insurance industry. In the past, the actuary's main focus was on making assumptions, and the ability to do this was reflected in making the assumptions more accurate, and the models were set up one by one. Now with big data, there is still a need for actuaries to make assumptions, but these assumptions are more well-founded." Shen Shuguang, a dual-appointed professor at Lingnan College of Sun Yat-sen University and the School of Politics and Public **** Affairs Management, explained it this way from the transformation of the actuary's business by technology.

"Take medical health as an example, health insurance data covers the past years of Guangdong province residents in the medical situation, known data of all male treatment of heart disease, known to do surgery, medication, cost and other data, through a certain model can be compared to the results. This shows that the basis of actuarial has changed significantly, it will certainly affect pricing, will certainly make pricing rationalization, precision, personalized development, will have a direct impact on the channel rates. This is also the grip that insurance companies can still grow in the face of major epidemics - mobile internet, big data, and artificial intelligence have transformed the sales channel." Shen Shuguang concluded.

From the practical perspective of the insurance industry, Li Yuanlan, General Manager of Mingya Insurance Brokerage Guangdong Branch, shared her experience of accelerating digital transformation during the epidemic, validating the aforementioned viewpoint of Prof. Shen Shuguang. She described that the epidemic prompted an agile transformation of the business approach, with the whole process from marketing team management, product development to selling insurance business moving online. "Only in this way, the whole industry is still able to maintain a certain level of growth; also because of this, the whole insurance industry in the piece of livelihood protection I think this year did very well." She said this way, "This year has also resulted in the emergence of a lot of enterprises, realistically provide customers with more accurate services, to provide a wider range of services to different levels of customers."

How does fintech drive the deep transmutation of the financial industry? Well-known financial scholars, venture capital experts / Ruyi Capital Managing Director Zhang Auping put forward, according to the industry development cycle, the digital transformation of the financial industry is still in the primary stage, accompanied by changes in technology, the industry's functions and attributes will change? A number of guests present at the meeting agreed that the financial industry will still abide by the essence will not change.

Liu Lan Biao, deputy dean of Nankai University's School of Finance and director of Nankai University's Financial Science and Technology Research Center, pointed out that digitalization and technology may change the specific financial business and the form of these functions, and also change the financial institutions to carry out the business of being able to influence or cover the scope of the business, but the function of the financial industry itself, the attributes of the financial industry will not be transmuted.

Fu Yu, assistant director of Peking University's Digital China Research Institute (South China), agrees that digitization is a tool, not a strategy, and is unlikely to change the attributes and functions of the financial industry, and it solves the problem of essentially reducing costs and increasing efficiency. For example, the use of big data and blockchain, Internet of Things technology to solve the problem of high cost of credit, credit identification difficulty, to solve the problem of high cost and financing difficulties of real enterprises.

In fact, 2020 is the year of dramatic changes in financial technology regulation, a series of regulatory policies introduced to make the financial technology industry tense nerves. Strong regulation to regulate what? How to effectively wind control? Dr. Fu Yu's view is that fintech and the industry can not be "two skins". She explained that financial innovation solves the problem of transactions, the generation of insurance solves the problem of maritime transportation, the emergence of credit cards solves the problem of global trade, financial innovation must be combined with the industry, it comes from the industry, and serve the industry, which is a fundamental point.

In addition, Zeng Yu, vice president of the Guangzhou Rural Revitalization Fund / vice president of the Guangzhou Green Finance Association, provided a kind of digital transformation of the financial industry, he believes that the transformation path should be thought of from the direction of the supply-side structural reforms, such as "finance + science and technology" two-way talent cultivation, may become the next period of time. A key direction in the construction of university disciplines.