C ONCLUSION

Throughout the whole analyses from the chapter 4, here come the conclusions of the development and the potential trends of Fintech through the three periods.

In the early development back to 1998 to 2004, it is mainly focus on the card technology and ATM and the related secure support, like identification and encryption technology to make people easy to purchase without worrying about the cash deficiency.

Besides, according to the results of this research, E wallet related technology has already started to develop in the first period in order to help people solve the problems of forgetting bringing wallet with them. Indeed, it has been proved from the results of applied patent in the first period that E wallet has become one of the high-frequent terms, representing the increasing importance of this technology. What’s more, there shows another new technological development in payment, which is payment system, to increase the convenience and efficiency in payment.

Then when progressing into the second period, in addition to the growing development of payment section from the previous period, such as third party services,

there also appears some another new technology in this period, like mobile device, biometric sensor and identification technology, and platform service system, all starting to thrive and create many applications with them. These all represent the basic foundation of the innovative and disruptive invention in Fintech, which can be seen in the results of the applied data in the second period. Therefore, in this period, the main growing developments are the more convenient payment process combines with mobile phones, called mobile payment, and the potential technology is the social network, which gradually become prosperous due to the establishment of Facebook in this period.

Finally, in the third period, due to the indispensible need of mobile device and social network, changing people’s way of life, there shows a large numbers of applications with mobile device in Fintech, like NFC, QR code, wearable payment, biometric authentication, cardless payment, …etc., all can be carried out through the mobile device. Except for the large numbers of application in payment, areas of data analysis also become vital in this period with the help of social network, generating lots of data in the Internet. Data analysis methods like high-frequent terms, Data Mining and Machine Learning, and even Open Data and Artificial Intelligence, accounting for the potential trend of data analysis. Although many innovative applications flood into this period, security matters also arise and get many attentions in order to protect

people’s privacy and trade and payment information without being hacked by others.

Therefore, in the recent applied data in the third period, in addition to the wide applications of mobile technology and personal banking services, Cryptocurrency is also another vital development in the third period, which becomes high-frequent terms from the issued data to applied data.

In sum, for the main development, we can see that there have three main developments through the three periods. One is identification technology, including speech recognition, voice recognition, …etc., are the main developments across the three periods. Second technologies of RFID, NFC, IR and Barcode have developed through the second and third period, which even improve the barcode to the QR code in the third period. Third, Payment System and Mobile Payment are the main development in the payment section of Fintech, which focuses on the technological improvement in the efficiency and convenience of payment procedure with the help of mobile phones.

About the future trends with high potential, this study finds that there have five hidden and potential trends in the third period of Fintech patent, which can be foreseen the widespread applications in the upcoming future.

1. Technologies that integrate services: Since the prosperity of network and social media, customers can find out the solutions on their own through Interent or ask for friends. Such technologies like Cloud platform system and Crowd funding,

which appear in the applied data in 2011 to 2017, create a shared environment to let people inside help solve each other’s problems, making problems like funding or lending issues or other issues with data storage or analysis easy to be solved through the Internet.

2. New form of payment through biometric identification and wearable sensor technology and cryptocurrency: although biometric related technologies has appeared in the first and second period, the weight of biometric technology isn’t higher enough to become the primary development of security and payment section, so is wearable sensor technology and cryptocurrency. Besides, from the issued data of this technology has a great potential to be applied in many fields to increase the higher-level security and more real-time response.

3. Data mining and machine learning skill plus artificial intelligence: Data mining analysis has become one of the hottest trends in recent years. Its future potential will be with the benefits of artificial intelligence to create more flexible, efficient, and accurate solutions to the problems, and get insight of more small-detailed business information so as to innovate the new way to transform the ecosystem of business environment.

4. Information processing technology: in order to understand more about the customers to predict their financial need, the information processing technologies

like Telematics Technology, showing in the issued data in 2011 to 2017, and this technology can detect, monitor and operate remotely through sensors, making it easy to track the objects or daily lives of people to provide more customized services to the customers.

5. Wider application of robotics technology plus artificial intelligence: applications such as Robo-advisor, providing humanized and maybe more accurate advices through the robot and the application of artificial intelligence, which in the recent news have already mentioned in recent years.

In the end, from the development of the whole three periods, we can conclude the innovative technologies keep coming out one after the other in a very short period, it’s essential to keep an eye on new trends and start to make a move to grasp chances.