Research On The Protection Of Financial Consumer Equities In The Development Of Digital Inclusive Finance

In recent years,China has increased its investment in science and technology.Digital technologies such as mobile internet,big data,cloud computing have made breakthroughs and integrated with modern financial industry,which has stimulated the vigorous development of new financial forms such as network lending,third-party payment,digital insurance and digital wealth management,and injected new vitality into the development of inclusive finance.With the rapid development of digital inclusive finance,the restrictions of space and region in the development of traditional financial industry have been broken.More groups excluded from traditional financial system can participate in financial activities,enjoy more convenient and fast personalized financial products and services,meet their financial needs and improve the accessibility of financial services.Since the 2008 financial crisis,many countries in the world have issued various policies to reform domestic development mechanism to strengthen the inclined protection of financial consumer equities.While the development of digital inclusive finance has benefited more groups,it does not changed the original risk of the financial industry,but also brought some negative external effects of financial technology,which puts higher requirements on the protection of financial consumer equities.Financial consumers are the main participants in financial market transactions.Their demand and satisfaction with financial products and services are the ultimate criteria for testing the development of digital inclusive finance.Strengthening the protection of financial consumer equities can ensure that digital inclusive financial development does not deviate its people-oriented goal.Starting with the definition of core concepts such as digital inclusive finance and protection of financial consumer equities,this paper combs the long tail theory,information asymmetry theory and "double peak supervision" theory,and emphatically analyses the advantages,disadvantages,opportunities and challenges of financial consumer equities protection in the process of the development of digital inclusive finance at the present stage.Among them,the advantages include: financial consumers’ self-protection consciousness is constant,the orderly advancement of financial consumer education,and the establishment of financial consumer equities protection mechanisms.The disadvantages are: imperfect laws for the protection of financial consumer equities,inadequate regulatory mechanism of digital inclusive finance and difficulties in safeguarding financial consumers’ equities.Opportunities include: convenient and efficient access to customers of digital inclusive finance helps financial consumers to realize financial participation equities,rich scenario operation helps financial consumers to realize their autonomous choice equities.Challengesinclude: platform operation challenges the privacy and information security equities of financial consumers,virtual digital technology challenges the right to know and fair trading equities of financial consumers,and third-party payment challenges financial consumers’ equities to financial security.This paper deeply analyses the typical cases of financial consumer equities violations—e Rental Treasury and successful cases of equities protection—pleasant loans.Draw on the experience of the construction of financial consumer rights protection mechanisms in the United States,the United Kingdom and Japan.Propose strategic recommendations for safeguarding the legitimate equities of financial consumers,from the laws and regulations on the protection of financial consumer rights,the industry supervision model,the self-construction of financial service providers,the self-regulation mechanism of trade associations,the improvement of financial consumers’ own financial literacy and the service system of the non-litigation financial dispute resolution mechanism.This paper studies the protection of financial consumer equities from the perspective of digital inclusive finance,broadens the development direction of digital inclusive finance,enriches the relevant theories of financial consumer equities protection.Selects and contrasts the development of digital technology to meet the financial needs of financial consumers and the typical case of its legitimate rights and interests,summarizes the experience and lessons,and causes the power of all sectors of society to pay attention to the protection of financial consumer equities in the development of digital inclusive finance.