Financial Technology Supervision And Strategy Research Of Shanxi X Bank

The increasing sophistication of information technology in recent years has brought impact to all aspects of people’s lives,including the financial sector.Against this backdrop,Fin Tech has emerged.Fintech is the product of continuous progress in core technologies,which will provide new service models,new processes and approaches,thus bringing impact to the service models of various financial institutions.Banking and financial institutions are developing and growing fintech in accordance with the law and regulations in order to contribute to the improvement of financial quality and efficiency,and to build a secure position for fintech by improving the means of financial innovation,thereby enhancing the financial institutions’ own capabilities.However,the development of financial technology will also bring new challenges and pose a serious test for the supervision of fintech in banks.Fintech is a "disruptive innovation" that not only expands the scope of financial risks,for example,liquidity risk,credit risk,but also makes the process of identifying them more complex.In addition,the development of fintech has gradually eroded the barriers of the financial industry,leading to a mix of financial market participants.Therefore,it is important to pay great attention to the development of fintech in commercial banks,to analyse and predict its potential risks and to strengthen financial supervision.Firstly,by comparing the differences between fintech risks and traditional financial risks in terms of concrete manifestations,a targeted concept of fintech supervision is proposed.At the same time,both questionnaires and interviews are used to understand and analyse the current situation of fintech regulation in Bank X.The SWOT-PEST model is applied to systematically analyse the strengths,weaknesses,opportunities and threats of Bank X’s fintech development,followed by a description of Bank X’s current fintech regulatory model and the typical fintech innovation regulatory tools it has applied for and used.Secondly,the current problems of Bank X’s fintech supervision are analyzed,and the causes of the problems are discussed,so as to find the root causes of the problems.On this basis,the problems of Bank X are analysed in the light of its actual situation,and solutions are given.First,Bank X should continuously improve its regulatory system and transform the mode of fintech regulation to build a new paradigm of fintech regulation.The new paradigm of the new paradigm of regulation is to take multiple subjects that are linked to fintech and make a close connection;secondly,accelerate the development and application of innovative regulatory tools for fintech.These include: optimising the regulatory sandbox and accelerating the development and application of regulatory technology;third,strengthening the rights and protection of financial users,the main elements of which are: establishing a framework for the rights and protection of financial users and improving information and education on the protection of financial users.Through the proposed countermeasures,we can resolve the problems of Shanxi X bank’s financial technical regulation,so that it can maintain a balance between financial technology development and regulation.