Classification of FinTech Patents by Machine Learning and Deep Learning Reveals Trends of FinTech Development in China
Table 3
FinTech categories in China.
FinTech category
Interpretation
Data analytics
The use of big data, cloud computing, and other pieces of information technology to clean, filter, and analyze large amounts of data related to the financial industry collected through various channels such as mobile banking
Lending
The use of information technology to deal with deposit and loan business
Insurance
The application of information processing technology for the intelligent recommendation of insurance products, policyholder risk identification, and other insurance businesses
Payment
The use of the Internet of Things and other technologies to process mobile payment business, provide payment function interfaces, and make payments intelligent, convenient, and cashless
Security
The application of fingerprint verification, iris verification, and face recognition technology in financial industry and equipment security management to improve the security of financial activities
Investment
Quantitative investment by enterprises and intelligent portfolio recommendation based on the analysis of investors’ risk preferences
