P2P借貸平台運用資訊技術，提升風險管理效率，並加速市場資金流通，補充金融服務的不足，產業前景一片看好，螞蟻金服甚至準備發行史上最大規模IPO，但卻未果。不管是因為平台營運模式與巴賽爾協議牴觸，還是因為後來頻傳的負面消息使監理機關加強管制，都反映出監管指引對產業發展的重要性，假設借貸平台能在適切的監理規範輔導下合規茁壯，是否就能減少外部性、取信於大眾。
本研究以「質性研究法」作為研究方法，包含文獻回顧、資料搜集及個案訪談。文獻回顧係針對學者曾提出的論點進行整理，歸結營運與監理模式，討論創新和監理的權衡；資料搜集以P2P借貸發展成熟的國家作為例子，中性呈現平台營運現況及各國監理重點，再將具特色之平台與有關監理措施相互比較和驗證；最後，藉由文獻回顧及資料搜集將P2P借貸產業進行重點整理，透過個案訪談的方式解析實務上遇到的挑戰，冀望受訪者能以自身角度出發分享經驗及見解，幫助監理策略完整發展。
整理後得出以下結論：一是經濟發展程度影響監理進入時點及營運模式的選擇，監理指引須以一國經濟發展程度做為依據，而指引亦應與創新輔導亦步亦趨前進；二是多元營運模式帶來全新樣態的風險，由於創新事業帶來的風險不可預期，接受創新帶來的益處而忽略外部性是不可行的；三是以金融行為作為監理最小單位，接受監理的應該是金融行為而不是金融機構，謹慎的金融行為可透過金融知識教育加強，維持產業良性發展。

The P2P lending platform used the information technology to improve the efficiency of risk management, accelerate the capital flow among the market, and make up the deficiency of financial service. The industry prospect of P2P lending was promising. The Ant group even planned to issue the largest IPO ever. Nevertheless, it didn’t succeed. Whether because of platform’s business model against the Basel agreement, or the stricter regulations resulting from numerous negative news, it showed the importance of supervisory regulation upon industry development. Supposing the P2P lending platform could grow under proper supervisory regulations, would it reduce the externality and convince the public?
"Qualitative Research Method" was the research method of this study, including literature review, data collection and case interview. The literature review focused on organizing the arguments raised by scholars, summarizing the business model and supervision’s, also discussing trade-off between innovation and supervision. The data collection took examples from countries with mature P2P lending platform, neutrally presenting current platform’s operating status and each country’s essential supervision, verifying and comparing the distinctive platform with relevant regulatory measures. Lastly, the main point of P2P lending was organized through literature review and data collection, the encountered challenges were analyzed by case interview. Hoping that the interviewees could share their experience and opinion from their view of point, to accomplish the development of supervisory strategy.
According to above mentioned, the conclusions were as follows: First, the economic development level impacted the supervisory cut-in timing and choices upon operating model types. The supervisory regulation should be built based on country’s economic development level, and followed the innovative guidance to move forward; Second, various business models brought about brand-new kind of risks. The risks coming from innovative industry were unpredictable. So, it was impracticable if only accepting the advantages generating from innovation, but neglecting the externality; thirdly, as the smallest unit of supervision, instead of financial institution, the financial behavior was the one that should be supervised. The prudent financial behavior could be improved by absorbing relevant financial literacy, and keep the industry well developed.

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