Study On Financial Technology To Help Micro And Small Credit Business Innovation

With the vigorous development of financial technology,the quality and efficiency of financial services can be significantly improved through the application of technical means.From the supply side,financial institutions can provide richer products,and from the demand side,customers can get more convenient financial services.China’s major commercial banks also gradually pay attention to the combination of credit business and financial technology,and constantly innovate and optimize traditional financial services,especially in the field of micro and small credit,which has received wide attention from all walks of life in recent years,with the help of financial technology,the quality and efficiency of services have been developed rapidly.In this context,this paper selects W Bank’s "merchant loan" product as a case study to analyze the development strategy of W Bank’s micro and small credit business,to study the investment of resources in research and development,personnel,technological innovation and the effectiveness of the application of W Bank’s financial technology construction,and to summarize the innovation of financial technology service micro and small credit products.specific practices.Then,taking ’merchant loan’ of W Bank’s financial technology innovation as an example,we study the specific application scenarios and the effectiveness of financial technology in the design process,customer acquisition method and risk control of micro and small credit products.Finally,the actual problems and shortcomings faced by W Bank’s micro and small credit products are summarized,and four suggestions for optimization are put forward.Through this paper,it is found that the main paths for commercial banks to use financial technology to innovate micro and small credit services are: firstly,the process of micro and small enterprises’ review and lending is online and batching,and the efficiency of micro and small enterprises’ review and lending is improved.Second,to build a big data risk control system to reduce various risks caused by the information mismatch between micro and small enterprises and commercial banking institutions.Third,optimize the guarantee and repayment methods of small and micro credit products,and launch credit loan products to support daily interest and repayment as you go.Fourth,the establishment of customer stratification mechanism,the construction of gold refinement operation system to reduce operating costs.In the innovation of small and micro credit business,commercial banks should avoid product homogenization,improve the degree of digital management of the whole process of products,optimize the customer experience of products,and form a characteristic credit product system as well as service model,so as to further promote the healthy development of China’s small and micro enterprises and contribute to the high-quality development of the overall economy.