Research On The Mechanism Of The Action Of Big Data Credit On SME Financing

With the rapid development of China’s market economy and the support of national policy,SMEs have a very rapid growth momentum,requiring a large amount of financial support.However,due to the inherent defects of SMEs ’ own business,the external financial support they can obtain is very limited.At present,the external financing of SMEs mainly comes from financial institutions such as banks.However,based on the higher risk of their own growth,SMEs can not get enough funds from financial institutions such as banks,and thus slow development.For commercial banks,in the case of marketization of interest rates,diversification of financing channels,financial media and foreign banks entering the Chinese market,it needs to further develop the SME credit market to enhance their competitiveness.Therefore,SMEs and commercial banks have the need for each other,relying on each other,give this article a certain research space and research significance.In this paper,combining with China’s Internet large data,standing in the perspective of independent third party credit agencies,through analyzing the large data credit mode of the HKMA’s role in SMEs,exploring the possible ways to meet the financing needs of SMEs and helping financial institutions to reduce credit risk and expand credit market.This paper mainly adopts case study method to analyse how to help SMEs obtain financing from the bank.Its function path is relying on the large data technology,carries on the Omni-directional data analysis,reduces the bank enterprise’s mutual information asymmetry degree,reduces the related transaction cost,then helps the SMEs to convert the credit to the capital,but also can help the bank forecast the future risk.These have prompted banks to lend to SMEs,cracking SME financing problems.Firstly,this paper studies the literature of SME financing and large data credit.Secondly,by analyzing the current situation,causes and limitations of the financing difficulties of SMEs,it concludes that the existing countermeasures are insufficient to solve the financing dilemma of SMEs,and the new technology of internet large data must be combined to open a novel situation for SME financing predicament.Then,through the four theoretical basis analysis of the large data credit is how the general role of SMEs,and select the Golden power line as a case company,it is committed toproviding SMEs with financial and credit services,and at this stage has achieved technological innovation and practical innovation results.The study shows that the impact of large data credit on SMEs mainly through the following four aspects: to build a full supply chain system to improve SME information,the development of Pratt-Hui finance reduce financing costs,credit transfer to achieve objective credit,large data accurate analysis and forecasting SME credit.Finally,it concludes that the large data credit of the independent third party credit agencies can help SMEs crack financing problems and open the new financing situation nowadays.