Research On The Effectiveness Of Financial Technology On Smart City Construction

Since the concept of smart cities was introduced,it has generated great enthusiasm worldwide and become an important direction for governments to enhance urban governance.As a new model of urban development based on information technology and intelligent systems,smart cities have elevated modern government governance,urban public services,sustainable development,and digital services to new levels through the widespread application of innovative achievements in information technology.The construction level of smart cities is related to the vital interests of every member of society.Therefore,objective evaluations of the different stages of smart city construction are of significant importance.Smart city construction is a complex system engineering that requires sustained investment in multiple fields.This article regards financial technology as one of the investment elements in the construction of a smart city.Based on the panel data of prefecture-level cities within S province and combined with the regional economic development,this article evaluates the effectiveness of financial technology in the construction of a smart city in S province using the balanced scorecard indicator system.Through the quantitative analysis of 51 indicators in four categories,including the construction of smart infrastructure,smart government,smart finance,and smart living,it is concluded that the quality of the development of financial technology has a significant impact on the level of smart city construction.Firstly,financial technology can improve the overall efficiency of the social and economic operation,and take the level of urban public services to a new level.Secondly,financial technology has unique technological advantages.Its platform solution can significantly reduce the unit service cost,alleviate the uneven development of smart cities between urban and rural areas,and thus improve the level of smart city construction in the entire region,achieving digital benefits for the people.Thirdly,through promoting the development in payment,settlement,financing,investment and other fields,financial technology can provide rich transaction channels for the government and end-users.Meanwhile,relying on the massive transaction behavior data precipitated by financial institutions databases,reliable basis can be provided for big data governance and government decision-making in smart city,promoting the modernization of government governance to a new height.Finally,this article proposes recommendations for financial innovation regulation,public data resource sharing,and the construction of a smart city talent team in accordance with the research conclusions,to help with the construction and development of smart cities in S province.Finally,this paper puts forward suggestions on financial innovation supervision,public data resource sharing,smart city talent team building and other aspects according to the research conclusions,in order to help the construction and development of smart cities in S Province.