1、本科畢業(yè)設(shè)計(jì)（論文）中英文對(duì)照翻譯（此文檔為word格式,下載后您可任意修外文出處：De Bonis R, Silvestrini A. Internet finance and its influence on traditional banking J. Applied Financial Economics, 2016,3(5): 409 425.原文 Internet finance and its influence on traditional bankingDe Bonis R5 Silvestrini AAbstractsWith the rapid development o

2、f information technology, Internet financial model gradually rise. This paper summarizes the Internet financial model on the basis of the concept, features and functions of Internet financial model in strategy, customer channels, financing, pricing and financial disintermediation of the impact of th

3、e traditional commercial bank This paper argues that Internet financial model in the short term will not stand in the way of commercial banks traditional business model and profit, but in the long term commercial Banks should use of the Internet financial model, in order to obtain the new developmen

4、t. At the same time, the sustained and healthy development of the Internet industry to rely on Internet financial enterprise self-discipline, positive innovation, but also attract more customers, strengthen the construction of system securityKey words: Financial innovation; Internet financial; Finan

5、cial disintermediationAt present, mobile payment, online banking, mobile banking and financial business in Chinas booming financial innovations such as cloud, thus formed a new kind of financial model the Internet finance Big data era and brand creation, spread to the development of financial instit

6、utions is both a challenge and opportunity. Along with the development of the Internet financial, emerging Internet traditional financial companies and financial institutions will be a fierce competition, the future may even change the traditional financial management mode and operation pattern The

7、Internet financial concepts, features and functions The concept of the Internet financial.After years of development, Internet companies stay in business does not provide technical support to financial institutions and service level, the data accumulated through the depth of mining information, to e

8、xpand our business to the financial sector, build financial models and Internet become the emerging field of combining information technology and capital. Internet financial model is different from indirect financing of commercial bank, it is also different from direct financing capital markefs thir

9、d financial financing model. From the perspective of the financing mode of Internet financial mode in essence is a kind of direct financing mode But compared with the traditional mode of direct financing, Internet financing model has a large amount of information, lower transaction costs, high effic

10、iency, etc. Adopt appropriate the Internet finance is a kind of financial model in the information age. The author believes that the Internet finance is based on modem information technology in financial activities, with functions of financing, payment and transaction intermediary The characteristic

11、s of the Internet financial. Availability of financial resources. Financial exclusion is defined as: people in the financial system lack a condition in which the share of financial services, including the social vulnerable groups in the lack of ways or methods is close to financial institutions, as

12、well as in the use of financial products or financial services exist difficulties and obstacles The current management mode, the traditional commercial Banks unable to efficiently deal with small companies, and part of the individual customers business requirements, lead to the financial exclusion o

13、f certain customers .Internet financial mode, the customer can break through the geographical restrictions, on the Internet looking for financial resources, alleviate the financial exclusion, enhance the level of social welfare. Trading the relative information. The traditional financing mode, the f

14、inancial institutions to obtain investment enterprises, especially small micro enterprise information cost is higher, income and cost does not match Internet financial generation and dissemination of information through social network, any enterprise and individual information will contact with othe

15、r subjects. Both parties to collect information via the Internet, can be more comprehensive understanding of a business or personal financial and credit situation, reduce the information asymmetry. When loan default object, Internet financial enterprises through public default and reducing rating in

16、formation, increase the cost of default The allocation of resources to mediation. The traditional financing mode, the money supply and demand both sides information often dont match. Capital demanders cant get the money in time to support at the same time, capital suppliers also cant find good inves

17、tment projects. Internet financial mode, the money supply and demand both sides no longer need the intermediary institutions such as Banks or exchange set, can be done through the network platform to information screening, matching, pricing and trading, disintermediationeffect is obvious. The Intern

18、et financial function.The platform function Financial enterprises establish the platform of network financial via the Internet, customers can choose the suitable financial products, just move your fingers, which can carry out payment, loan, investment, financial activities, such as convenient and qu

19、ick, from running errands, and waiting for customer. The allocation of resources (i.e., financing) function. Internet financial is essentially a way of direct financing Internet financial mode, we can easily check counterparty transaction records; To find the right risk management tools and risk div

20、ersification; In-depth analysis the data by information technology, comprehensive and in-depth master competitors information, improve the efficiency of resource allocation. As the Internet financial model, the concept of since the financial” arises at the historic moment.3, payment function. Intern

21、et financial mode, between merchants and customers to pay by a third party to complete, convenient, efficient, lower cost. The third party payment or will weaken the commercial bank, the status of the traditional payment platform At present, the peoples bank of China for about 200 third-party paymen

22、t companies issued payment business license. In 2012, our country third party online payment market size of 3.8 trillion. Infonnation gathering and processing Traditional financial mode, the information resources dispersed, confused data is difficult to effectively handle the application. Internet f

23、inancial mode, people use cloud computing* principle, information asymmetry, the pyramid can be flattened, realize the standardization of data, structured, increasing the service efficiency of the data Second, the Intemefs influence on the traditional commercial banking financial mode to review the

24、financial strategy, to adapt to the challenges of the Internet financial model. The emergence of the Internet financial model for small and medium-sized bank provides an opportunity to compete with the big Banks IF you can make good use of this model, the positive innovation, will catch up with the

25、big Banks in some emerging business, the formation of competitiveness. Traditional banking may be because of the Internet financial model change in the competitive landscape Some Internet companies have not satisfy only do third-party online payment platform, but with the advantages of data accumula

26、tion and information mining, directly to the supply chain, small micro enterprise credit financing expansion, the future may impact the core of the traditional banking business, rob Banks customer resources, alternative physical channels, overturning traditional bank management mode and profitable w

27、ay.The development of banking customer and channel The customer is the basis of commercial Banks and other financial institutions to the business Internet financial model for commercial Banks to expand the customer base. In 2012, the global Internet users up to 2012 people; Chinese Internet users is

28、 565 million (2), the number of online shopping, 193 million (3).Under the mode of Internet financial, commercial Banks can be combined with its own strategy, on the one hand, to attract new customers; On the other hand, increase customer adhesiveness, close business relationship with clients Intern

29、et financial mode, the bank may change to traditional target audience and traditional physical network advantages weakening, the pursuit of diversification personalized service of small and medium-sized enterprises and individual customers more inclined to participate in a variety of financial trans

30、actions via the Internet. Commercial Banks will change traditional value creation and realization way, able to provide fast, low cost services of financial institutions to get market fevor. Improve efficiency of resource allocation, effectively solve the small micro enterprise financing difficult pr

31、oblem. Internet financial companies with large data, cloud computing, and micro lending technology. These three technologies can make a comprehensive understanding of the Internet financial institutions the business practices of small businesses and individual customers and credit rating, and establ

32、ish a database and network credit system. In the credit review, investors will network trading and credit history as a reference and analysis indicators. Loan object such as a default, financial firms still can use the Internet network platform to collect and publish information, increasing default

33、cost, reduce the risk of investors, in the service of small and medium-sized enterprise financing, and personal loans has a unique advantage Therefore, the Internet financial model can go beyond the traditional financing way of resource allocation efficiency, significantly reduce transaction costs,

34、strongly support the development of the real economy.The price discovery function, and promote the mercerization of interest rate. Internet financial model can objectively reflect the market supply and demand both sides price preferences, commercial Banks and other financial institutions respond to

35、interest rate marketization. Debit offer Internet financial as a trading platform, funds, credit on the basis of the liquidity preference choice, risk factors, such as loan object, the two sides bargaining to clinch a deal, trading market completely. With market- oriented interest rate, financial in

36、stitutions cannot completely depend on the guidance of the central banks benchmark rate, should take the initiative to find benchmark interest rates in the market. The Internet mode, financial institutions, financial market interest rate movements can be done via the Internet, determine specific cus

37、tomer base interest rates. If can also in depth study of data mining, can even form completely determined by the market nrate index, so as to improve the loan pricingTo speed up financial disintermediation. Traditional Banks in the financial business, mainly ACTS as a financial intermediary function

38、. Internet financial will accelerate financial disintermediation, make the funds of commercial Banks intermediary function marginalized In the Internet financial mode, Internet companies to provide financial search platform for capital supply and demand, as money information intermediary role. From

39、the perspective of financing, capital supply and demand both sides using search platform for trading object, after the financing deal is done by both sides. From the perspective of the pay third- party payment platform, can provide customers with paying, automatic collecting and transfer the remitta

40、nce and settlement and payment services, with the traditional bank payment form instead Third, the Internet financial mode development trend and strategy of commercial Banks. Overall, the Internet financial institutions development speed is fast, but the volume is relatively small, short-term would

41、not shake commercial banks traditional business model and profit way. Sustained and healthy development of the financial industry, the author thinks that, the Internet, need to pay attention to the following four points: first, the Internet financial enterprises should self-discipline, business deve

42、lopment can not drill loophole legal and regulatory loopholes, should be to support the real economy as the starting point. Second, the Internet financial enterprises should actively innovation, and constantly graft function of financial services and information technology, explore new business area

43、s, complementary with the traditional financial business model. Again, the Internet financial enterprises to use its own resources, break the geographical boundaries, attract more customers, operating as making a fool of. Finally, the Internet financial enterprises should strengthen the construction

44、 of system security, to ensure the safety of capital, information of the trader. From the social environment, people should give the Internet financial enterprises more open and tolerant attitude. Under the premise of guarantee the financial stability and security, relevant departments can consider

45、to break through the geographical, trade restrictions, encourage financial industry competition, safeguard social financial ecological environment. Traditional model of commercial Banks in the Internet age still has advantages Commercial Banks1 capital strength, cognitive and high credit standing, p

46、erfect infrastructure, physical outlets are widely distributed, entity bank can establish the trust of the tangible. In addition to providing traditional commercial bank loan business, wealth depository and provide payment and settlement business media, also for the society to provide liquidity insu

47、rance, support normal economic activity. Some financial business needs professional experience judgment, information technology cannot completely replace the face the vigorous development of the Internet financial business, commercial Banks and other financial institutions should pay close attention

48、 to the development of the Internet financial trends, changing the concept of development, actively adjust strategy Commercial Banks to use the Internet financial mode, can deep integration of Internet technology and the banks core business, improve customer service quality, expand the service chann

49、els, improve the level of business, to adapt to the Internet financial model to the impact of the traditional financial pattern, obtain new development. Based on comparative advantage, in support, service the real economy At the same time, create value for shareholders.譯文互聯(lián)網(wǎng)金融以及它對(duì)傳統(tǒng)銀行業(yè)的影響作者，伯尼斯；席爾瓦尼

50、摘要隨著信息技術(shù)的快速發(fā)展，互聯(lián)網(wǎng)金融模式逐漸興起。本 文在總結(jié)互聯(lián)網(wǎng)金融模式的概念、特征和功能的基礎(chǔ)上，闡述了互 聯(lián)網(wǎng)金融模式在戰(zhàn)略、客戶渠道、融資、定價(jià)以及金融脫媒等方面 對(duì)傳統(tǒng)商業(yè)銀行產(chǎn)生的影響。本文認(rèn)為，互聯(lián)網(wǎng)金融模式短期內(nèi)不 會(huì)動(dòng)搖商業(yè)銀行傳統(tǒng)的經(jīng)營(yíng)模式和盈利方式，但從長(zhǎng)遠(yuǎn)來(lái)說(shuō)商業(yè)銀 行應(yīng)大力利用互聯(lián)網(wǎng)金融模式，以獲得新的發(fā)展。與此同時(shí)，互聯(lián) 網(wǎng)金融業(yè)的持續(xù)健康發(fā)展要依靠互聯(lián)網(wǎng)金融企業(yè)的口律、積極創(chuàng)新， 還要吸引更多的客戶、加強(qiáng)系統(tǒng)安全建設(shè)。關(guān)鍵詞：金融創(chuàng)新；互聯(lián)網(wǎng)金融；金融脫媒當(dāng)前，移動(dòng)支 付、網(wǎng)上銀行、手機(jī)銀行、云金融等金融創(chuàng)新業(yè)務(wù)在美國(guó)蓬勃發(fā)展， 由此形成了一種新的金融模式一互

51、聯(lián)網(wǎng)金融。大數(shù)據(jù)時(shí)代給金融 機(jī)構(gòu)發(fā)展和品牌創(chuàng)立、傳播既帶來(lái)挑戰(zhàn)，也帶來(lái)機(jī)遇。隨著互聯(lián)網(wǎng) 金融的發(fā)展壯大，新興互聯(lián)網(wǎng)金融公司和傳統(tǒng)金融機(jī)構(gòu)將展開(kāi)激烈 竟?fàn)?，未?lái)其至可能改變傳統(tǒng)金融業(yè)的經(jīng)營(yíng)模式和運(yùn)行格局?；ヂ?lián)網(wǎng)金融的概念、特征和功能 互聯(lián)網(wǎng)金融的概念經(jīng)過(guò)多年發(fā)展，互聯(lián)網(wǎng)企業(yè)的業(yè)務(wù)沒(méi)有停留在向金融機(jī)構(gòu)提供 技術(shù)支持和服務(wù)層面，通過(guò)深度挖掘積累下來(lái)的數(shù)據(jù)信息，將業(yè)務(wù) 拓展至金融領(lǐng)域，構(gòu)建出互聯(lián)網(wǎng)金融模式并成為信息技術(shù)與金融資 本相結(jié)合的新興領(lǐng)域。互聯(lián)網(wǎng)金融模式是既不同于商業(yè)銀行間接融 資、也不同于資本市場(chǎng)直接融資的第三種金融融資模式。從融資模 式角度看，互聯(lián)網(wǎng)金融模式本質(zhì)上是一種直接融資模式。但與傳

52、統(tǒng) 直接融資模式相比，互聯(lián)網(wǎng)融資模式具有信息量大、交易成本低、 效率高等特點(diǎn)?；ヂ?lián)網(wǎng)金融是信息時(shí)代的一種金融模式。筆者認(rèn)為，互聯(lián)網(wǎng)金 融是依托現(xiàn)代信息科技進(jìn)行的金融活動(dòng)，具有融資、支付和交易中 介等功能?；ヂ?lián)網(wǎng)金融的特征。金融資源的可獲得性強(qiáng)。將金融排斥定義為：人們?cè)诮鹑隗w系 中缺少分亨金融服務(wù)的一種狀態(tài)，包括社會(huì)中弱勢(shì)群體缺少途徑或 方式接近金融機(jī)構(gòu)，以及在利用金融產(chǎn)品或金融服務(wù)方而存在困難 和障礙。當(dāng)前經(jīng)營(yíng)模式下，傳統(tǒng)商業(yè)銀行無(wú)法高效應(yīng)對(duì)小微企業(yè)和 部分個(gè)人客戶的業(yè)務(wù)要求，導(dǎo)致對(duì)某些客戶的金融排斥?；ヂ?lián)網(wǎng)金 融模式下，客戶能夠突破地域限制，在互聯(lián)網(wǎng)上尋找需要的金融資 源，緩解金融排斥，提升

53、社會(huì)福利水平。交易信息相對(duì)對(duì)稱。傳統(tǒng)融資模式下，金融機(jī)構(gòu)獲得投資企業(yè)， 特別是小微企業(yè)的信息成本較高，收益與成本不匹配?；ヂ?lián)網(wǎng)金融 通過(guò)社交網(wǎng)絡(luò)生成和傳播信息，搜集信息，能夠較全面了解一個(gè)企 業(yè)或個(gè)人的財(cái)力和信用情況，降低信息不對(duì)稱。當(dāng)貸款對(duì)象違約時(shí)， 互聯(lián)網(wǎng)金融企業(yè)可以通過(guò)公開(kāi)違約和降低評(píng)級(jí)信息等方式，增加違 約成本。資源配置去中介化。傳統(tǒng)融資模式下，資金供求雙方信息經(jīng)常 不匹配。資金需求方無(wú)法及時(shí)得到資金支持的同時(shí)，資金供給方也 不能找到好的投資項(xiàng)目?；ヂ?lián)網(wǎng)金融模式下，資金供求雙方不再需 要銀行或交易所等中介機(jī)構(gòu)撮合，可以通過(guò)網(wǎng)絡(luò)平臺(tái)自行完成信息 甄別、匹配、定價(jià)和交易，去中介化作用明顯。

54、互聯(lián)網(wǎng)金融的功能。平臺(tái)功能。通過(guò)互聯(lián)網(wǎng)金融企業(yè)搭建的網(wǎng)絡(luò)金融平臺(tái)，客戶可 自行選擇適合的金融產(chǎn)品，只需動(dòng)動(dòng)手指，即能開(kāi)展支付、貸款、 投資等金融活動(dòng)，方便快捷，免去客戶跑腿、等待之苦。資源配置（即融資）功能?；ヂ?lián)網(wǎng)金融本質(zhì)上是一種直接融資 方式。互聯(lián)網(wǎng)金融模式下，我們能夠方便地查閱交易對(duì)手的交易記 錄；找到合適的風(fēng)險(xiǎn)管理工具與風(fēng)險(xiǎn)分散工具；通過(guò)信息技術(shù)深 入分析數(shù)據(jù)，全面、深入學(xué)握對(duì)手信息，提高了資源配置效率。隨 著互聯(lián)網(wǎng)金融模式興起，“自金融”的概念應(yīng)運(yùn)而生。支付功能。 互聯(lián)網(wǎng)金融模式下，商家和客戶之間的支付由第三方來(lái)完成，方便、 快捷，成本更低。第三方支付或?qū)⑾魅跎虡I(yè)銀行、傳統(tǒng)支付平臺(tái)的 地位。目前，中國(guó)人民銀行為約200家第三方支付企業(yè)頒發(fā)了支付 業(yè)務(wù)許可證。2012年，美國(guó)第三方互聯(lián)網(wǎng)在線支付市場(chǎng)交易規(guī)模達(dá) 3.8萬(wàn)億元。信息搜集和處理。傳統(tǒng)金融模式下，信息資源分散龐 雜，數(shù)據(jù)難以有效處理應(yīng)用?；ヂ?lián)網(wǎng)金融模式下，人們利用“云計(jì) 算”原理，可以將不對(duì)稱、金字塔型的信息扁平化，實(shí)現(xiàn)數(shù)據(jù)的標(biāo) 準(zhǔn)化、結(jié)構(gòu)化，提高數(shù)據(jù)使用效率?；ヂ?lián)網(wǎng)金融模式對(duì)傳統(tǒng)商業(yè)銀 行業(yè)務(wù)的影響重新審視金融戰(zhàn)略，適應(yīng)互聯(lián)網(wǎng)金融模式帶來(lái)的挑戰(zhàn)?；ヂ?lián)網(wǎng) 金融模式的岀現(xiàn)為中小銀行提供了與大銀行竟?fàn)幍钠鯔C(jī)。如果能夠 利用好這一模式，積極創(chuàng)新，將在一些新興業(yè)務(wù)上趕超大銀行，形 成競(jìng)爭(zhēng)力。傳統(tǒng)銀行業(yè)可能因?yàn)榛ヂ?lián)網(wǎng)金融