Research On Impact Of Fintech On The Operational Efficiency Of Commercial Banks

In recent years,financial technology is affecting the future financial order with the development trend of technology,data and scenario,coupled with the accelerated development of the digital economy.Since the outbreak of the epidemic,the traditional financial industry is being reshaped,which has brought opportunities and challenges to the operation and management of commercial banks,how should commercial banks respond,relying on the development trend of financial technology to achieve their own transformation and upgrading,improve operational efficiency has become the top priority.Based on this,this paper conducts theoretical and empirical analysis around the impact of financial technology on the operational efficiency of commercial banks.First of all,this paper sorts out the relevant studies on the impact of fintech on the operational efficiency of commercial banks,and finds that scholars paid more attention to the traditional and conventional efficiency evaluation,and there are few specific studies on the impact of fintech on the operational efficiency of commercial banks.The existing literature on the impact of financial technology on the efficiency of commercial banks is mostly to study typical banks,few scholars have comprehensively studied four different types of commercial banks in China.And some studies have found that the efficiency of bank exists heterogeneity characteristics without further study on the causes and the threshold.The existing research is to focus on the effect of ownership structure on corporate performance,few studies on the influencing factors of the operating efficiency of commercial banks based on the difference of ownership structure.Secondly,based on the analysis of technology spillover and principal-agent theory,this paper analyzes the influence mechanism of fintech on the operating efficiency of commercial banks from four aspects: attracting long-tail customers,promoting platform construction,reducing transaction costs and improving management efficiency.Finally,the paper analyzes the influence of fintech on the operational efficiency of commercial banks based on the difference of ownership structure from the perspective of ownership concentration and ownership balance.Then,the three-stage DEA model is used to measure the operating efficiency values of71 sample commercial banks from 2012 to 2020,which is taken as the explained variable.The standardized fintech index as the explanatory variable,and the GDP growth rate,money supply growth rate,non-performing loan ratio,capital adequacy ratio and non-interest income ratio as the control variables.Tobit model was established to analyze the influence degree and heterogeneity.The results show that fintech index is significantly positively correlated with operating efficiency.Among the control variables,the macro variables,GDP growth rate and money supply growth rate are negatively correlated with the operating efficiency;the micro variables,capital adequacy ratio and non-interest income ratio have significant positive effects on the operating efficiency of commercial banks,while the nonperforming loan ratio has no significant impact on the operating efficiency of commercial banks.The heterogeneity impact study found that state-owned commercial banks and city commercial banks were relatively slow to respond to the impact of fintech,while joint-equity commercial banks and rural commercial banks were more affected by fintech.Finally,based on the difference of ownership structure,the threshold model is established with the degree of ownership balance and ownership concentration as the threshold variables,and the range of the positive impact of fintech on the operating efficiency of commercial banks with different ownership types is also found.Finally,in response to the research findings,this paper proposes: on the one hand,the government should guide the development of fintech reasonably and strengthen standardized supervision;On the other hand,commercial banks should actively embrace opportunities,Optimizing the equity structure,and make more efficient use of fintech dividends.