Research On The Influencing Factors And Paths Of Business Model Innovation In Internet Finance Enterprises

Internet financial enterprises have broken through the barriers of traditional financial institutions through emerging technologies,expanded financing channels,and provided financing support to more small and micro enterprises and individuals,reducing the cost of financial services,shortening the space and time distance of financial services,and providing more convenient,efficient,and fast financial services to different types of users;At the same time,it promoted Financial innovation and made positive contributions to the development of the financial industry.In addition,internet finance enterprises have promoted the development of the real economy and injected new impetus into economic growth by providing financing support for small and micro enterprises and individuals.Internet finance enterprises are the deep integration of the Internet and financial industry,representing the birth and development of new business models,and are of great significance for understanding and mastering new business models.Internet finance enterprises developed on the basis of e-commerce are typical representatives.Studying the internal mechanisms and paths of their business model innovation,as well as the successful experiences of business model innovation,can provide reference and inspiration for other traditional financial enterprises and other industries’ business model innovation,and is of great significance for promoting the transformation and upgrading of various industries.By using the qualitative research method of grounded theory,this paper selected two representative enterprises in the Internet finance industry--Ant Financial and JD Financial as the case study objects.Through long-term and in-depth research and data collection,the relevant data were carefully and rigorously coded according to the procedural coding commonly used in grounded theory(open coding-principal axis coding-selective coding)to form relevant concepts and categories,According to the logical relationship of the model model,five main categories are formed,and the complete story line of the business model innovation of Internet finance enterprises is drawn.The research analyzed the business model innovation process and internal operation mechanism of the case enterprise,sought the logical relationship between the various modules,and concluded that the driving factors of the business model innovation of Internet finance enterprises represented by e-commerce platform include external environment,technological innovation,policies and regulations,internal capacity improvement,etc.,and explored the value proposition,target users,core capabilities,operation mode,revenue sources Based on the logical relationship and interaction process between the innovation of customer relationship,customer channel and other elements,the innovation mechanism diagram of the business model of Internet finance enterprises is drawn,and the problems and risks of this business model and the future development direction are summarized and prospected.This paper enriches the theoretical research on Internet finance enterprises from the perspective of business model,and provides some suggestions for the business model innovation of other Internet finance enterprises,which also has certain reference significance for the digital transformation of traditional financial institutions.It also helps to understand and grasp the development trend and law of the Internet economy,and is of great significance to promote the development of China’s digital economy and improve the international competitiveness of China’s Internet enterprises.