The Influence of Platform Economy on Financial Function

Abstract

Today, with the rapid development of Internet information technology, the platform economy (PE)model covers most areas of people's economic life, and has caused subversion and innovation to the business model and pattern of the traditional financial industry. PE plays a significant role in the development of Internet finance(IF), and the trend of platform is irreversible. The scale effect of PE is huge. It connects with a large number of middle and long tail users with almost zero marginal cost, which fundamentally endows the IF industry with broad market potential, imagination and creativity. Platform is the basis of IF business model. This paper mainly studies IF from the perspective of PE, and analyzes the impact of PE on financial function(FF).This paper analyzes the influence of PE on FF, studies the function of financial system, and analyzes the influence of PE on IF from two aspects of platform industry chain and business reconstruction. Based on the perspective of PE, this paper analyzes the impact of platform industry chain and business restructuring on IF, and selects two aspects of business restructuring, insurance business and credit reference. The results show that from 2015 to 2019, the Internet insurance business has more than quadrupled, accounting for 31.35% of the whole industry in 2015 and 72.46% in 2019. The Internet insurance business has developed steadily under the promotion of PE.