Research On The Influence Of Fintech On The Digital Transformation Of Commercial Banks

In recent years,fintech develops rapidly,which has greatly changed the traditional financial model.Digital transformation is the future development direction of commercial banks,which is of great significance to enhance their comprehensive ability and gain competitive advantage.This paper focuses on the influence of fintech on the digital transformation of commercial banks,and deeply analyzes its mechanism,so as to provide some methods for commercial banks to use fintech to improve the digital level and achieve healthy development.Therefore,it has a strong theoretical and practical value for promoting the research of fintech and commercial banks and helping commercial banks better realize the digital transformation.First of all,this paper arranges the relevant literature at home and abroad from three perspectives,and clarifies the connotation and essence of fintech and digital transformation of commercial banks.The relevant theories,such as financial intermediary theory,financial innovation theory and technology promotion theory are summarized.Secondly,it describes the development status of China’s fintech and summarizes the process of commercial banks’ digital transformation.On this basis,it deeply analyzes how fintech impacts the commercial banks’ channels,processes,products and organizations,and then explains the mechanism of promoting the digital transformation of banks.Thirdly,the specific mechanism is empirically tested.Using text mining method,this paper constructs and quantifies the keywords database of digital transformation of commercial banks,and uses entropy method to measure the digital level of 46 listed commercial banks.Collect relevant data of fintech,and use “mediating effect” model to regress each variable.Finally,the paper explores the ways of using fintech to promote the digital transformation of commercial banks,and designs the effective path of it.The main conclusions are that fintech improves the ability of customers acquisition,business,R & D and management of commercial banks through influencing their channels,processes,products and organizations,promotes them to be online,scenario and intelligent,improves their digital level and deepens their transformation practice.The specific mechanisms are as follows: first,by expanding the online channels and optimizing the offline channels of banks,fintech improves the ability of banks to obtain customers and gradually makes them online and intelligent.Second,fintech shortens banks’ business processing time,reduces business error rates,improves their business ability,and makes them gradually intelligent.Thirdly,fintech improves banks’ R & D capability and makes them more and more scene oriented and intelligent by realizing the customization and diversification of bank products.Fourthly,fintech improves banks’ management ability and makes them gradually intelligent by encouraging banks to set up separate departments and coordinate with various departments.The degree of integration of fintech and commercial banks determines its effect of digital transformation of banks.Through various mechanisms,fintech can promote the digital transformation of state-owned and joint-stock banks obviously,but has weak influence on urban and rural commercial banks.