Can fintech improve the efficiency of commercial banks? —An analysis based on big data |
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Institution: | 1. School of Economics, Capital University of Economics and Business, China;2. School of International Economics, University of International Business and Economics, China;3. China institute for WTO Studies, University of international Business and Economics |
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Abstract: | This paper assess the potential impact of Fintech on the banking industry. Results suggest that, for commercial banks, development of Fintech leads to increased profitability, financial innovation, and improved control of risk. Overall, by using financial technology, commercial banks can improve their traditional business model by reducing bank operating costs, improving service efficiency, strengthening risk control capabilities, and creating enhanced customer-oriented business models for customers; thereby improving comprehensive competitiveness. We also find that levels of such outcomes vary with levels of respective bank’s use of technological innovation. |
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Keywords: | Fintech Commercial Bank TFP |
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