Author(s)

Jie Gong ¹

Affiliation(s)

¹ Shenzhen Xiaozuanfeng Culture Media Co., Shenzhen, 518000, China

Corresponding Author

Jie Gong

ABSTRACT

The rise of financial technology provides a new financing solution for small and medium-sized enterprises (SMEs). Through the application of big data, cloud computing, blockchain and other technologies, the financing efficiency has been significantly improved and the cost has been reduced. P2P peer-to-peer lending, Internet factoring, financial leasing and equity crowdfunding provide diversified financing channels for SMEs through the empowerment of financial technology. However, the application of financial technology in SMEs financing also faces challenges such as lagging regulatory policies, data security and privacy protection, and insufficient technology maturity and popularity. Regulatory gaps and unsuitable policies lead to increased risks in financial activities, while data security and privacy protection have become the main difficulties in cooperation. In addition, the maturity and popularity of technology directly affect the stability and accessibility of services. Nevertheless, the integration of financial technology and traditional finance, such as cooperation mode and benefit distribution, is also a difficult problem to be solved urgently. The purpose of this paper is to explore the application status of financial technology in SME financing, analyze the challenges it faces, and put forward countermeasures and suggestions in order to promote the healthy and sustainable development of SMEs.

KEYWORDS

Small and medium-sized enterprises; financial technology; application and challenge

CITE THIS PAPER

Jie Gong, Application and challenge of financial technology in financing of small and medium-sized enterprises. Accounting, Auditing and Finance (2024) Vol. 5: 63-70. DOI: http://dx.doi.org/10.23977/accaf.2024.050309.

REFERENCES

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