Research On The Impact Of Fin Tech On The Efficiency Of Commercial Banks In China

Technological progress is becoming the core driving force for the transformation and upgrading of the financial industry.The Financial Stability Board defines FinTech as “financial innovation brought by technology” in 2016,FinTech has a subversive impact on the transaction logic of the financial industry,the mode of operation of financial institutions and the supply and demand of financial services.As an important financial institution in the indirect financing of financial markets,commercial banks are no exception.FinTech is deeply integrated with the core business of commercial banks,driving the improvement of the efficiency of commercial banks.At the same time,FinTech startups represented by Ant Financial,WeBank and JD Finance are competing with traditional commercial banks,subdividing the off-balance-sheet business and even on-balance-sheet business of commercial banks.Therefore,systematically studying the impact of FinTech on the efficiency of commercial banks has important theoretical and practical significance for the digitalization and intelligent transformation and upgrading of commercial banks and the promotion of efficient operation of the financial system.Based on the theoretical analysis of the "competitive effect" and "technical spillover effect" of FinTech,the paper constructs the FinTech index system according to the financial function.Through the design of input-output index,the paper measures the efficiency changes of different types of commercial banks,such as total factor productivity(TFP),and finally empirically tests the influence of FinTech on the efficiency of commercial banks in China.The results show that the technology spillover effect of FinTech on China's commercial banks is greater than the competition effect.The development of FinTech is conducive to improving the overall efficiency of commercial banks.At the same time,the impact of FinTech on the efficiency of different types of commercial banks in China is heterogeneous,and the efficiency of the joint-stock commercial banks is more significant,while the efficiency of stateowned commercial banks and city commercial banks is relatively small.The main reason for this result is that the resource endowments of different types of commercial banks and the market environment they face are quite different.Commercial banks should develop FinTech in a targeted manner in accordance with their own advantages and characteristics,and carry out differentiated competition.