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Research Report on financial technology development of small and medium-sized banks (2021) was released to analyze the current situation and future of financial technology of small and medium-sized banks

Time : 13/03/2022 Author : rbx2d0 Click : + -
        Financial technology is one of the key growth points in the future of finance. In recent years, the penetration and application of financial technology have opened a new channel for small and medium-sized banks to maintain business stability, asset quality and profitability, and achieve high-quality sustainable development. It has strongly promoted the sinking of financial services, and made it possible for small and medium-sized banks to create characteristic and personalized innovative businesses. In particular, in the face of the normalization of epidemic prevention and control this year, small and medium-sized banks have comprehensively improved the level of financial science and technology, which is specifically manifested in the promotion of integration of technology and operation at the strategic level, further flattening of the organizational level to adapt to the development of digital transformation, continuous optimization and upgrading at the technical level, taking a characteristic road at the application level, fully digitizing the front, middle and back offices at the data level, and more obvious trend of open cooperation at the ecological level.
 
        While the overall trend is good, there are significant differences in the organizational structure and technology application of financial technology in terms of different business forms such as urban commercial banks, rural commercial banks and private banks. For the decision-makers of small and medium-sized banks, how can they grasp the pulse of financial technology development and find the starting point of digital transformation in combination with their own reality?. On November 23, the Internet Finance (Shenzhen) alliance of small and medium-sized banks, together with the financial one account link and the financial technology 50 people forum, released the Research Report on the development of financial technology of small and medium-sized banks (2021) (hereinafter referred to as the report), which comprehensively summarized the current achievements of the development of financial technology of small and medium-sized banks, analyzed in detail the main problems hindering the development of financial technology, and gave targeted countermeasures and suggestions, It also makes a positive outlook on the future development path of small and medium-sized banks.
 
        As an important achievement of the alliance's knowledge empowerment output, this year is the fifth year that the alliance has released this series of reports. The report continues to use the six-dimensional "honeycomb" model research tool. Starting from different perspectives of strategy, organization, technology, data, application and ecological construction, combined with rich practical cases, it gives a detailed overall presentation of the overall development of financial science and technology of small and medium-sized banks. At the same time, it focuses on individual differences and makes in-depth analysis on the digital transformation thinking of market institutions and how to create a good development environment, It provides a detailed, objective and constructive reference for the decision-makers of small and medium-sized banks. The continuous creation of this series of reports also shows that the Internet Finance (Shenzhen) alliance of small and medium-sized banks is increasingly mature in providing think tank services for its members.
 
        At present, small and medium-sized banks generally begin to use digital technology to assist business operation, customer service, risk prevention and control, operation management and other links, and move from "digital transformation" to a new development stage of "digital upgrading". The report shows that on the whole, the scores of small and medium-sized banks in the five dimensions of strategy, organization, technology, application and ecology in 2021 have improved compared with those in 2020, especially in the dimensions of organization (58.05), technology (63.50) and application (59.11). From the perspective of specific business and technology, 69.64% of the interviewed banks focused on the field of "mobile banking and online banking", and online businesses such as direct banking, financial services based on social platforms, and online supply chain finance were generally valued.
 
        As the underlying support for a series of online applications, the application depth of big data, cloud computing, artificial intelligence, blockchain and other technologies has been further deepened. 78.57% of the interviewed banks have applied mobile Internet technology to production, and 73.21% of the interviewed banks have applied big data technology to production. Artificial intelligence, blockchain, Internet of things and other technologies have also become the focus of research and evaluation of small and medium-sized banks. The cases investigated in the report show that fintech has played a significant role in helping small and medium-sized banks to give play to their geographical advantages, regional experience advantages, and flexible and efficient mechanism advantages, reduce costs, expand service scope, and better create characteristic products to help agriculture, rural areas, microenterprises, and local economies.
 
        More than 90% of the banks interviewed believe that financial technology can revitalize rural areas and strengthen the local advantages of small and medium-sized banks. Among them, 66.07% of the interviewed banks said that the impact was "very important", and 28.57% of the interviewed banks said that it was "important". Many small and medium-sized banks have launched pure credit credit, personal carbon accounts, green finance and other related pure online digital products around the policies of Inclusive Finance and "double carbon", filling the gap in the traditional financial service market and reflecting the strong driving power of financial technology for financial innovation. With the empowerment of financial technology, small and medium-sized banks have opened the service boundary and continuously expanded the tentacles of characteristic services. According to the report, 48.21% of the surveyed banks focused on building an app ecosystem with strong scenario support by building a one-stop application service platform from various aspects of daily life such as finance, life services, social networking, e-commerce, catering, entertainment, travel and tourism.
 
        Financial technology not only represents advanced digital technology, but also is a system engineering. Small and medium-sized banks have gradually exposed some problems in the digital transformation, which are mainly reflected in the shortage of human resources at the technical level. In the short term, they need to rely on third-party cooperation. The connection between technology and application at the application level needs to be further improved. There is much room for improvement in data governance compliance at the data level, and the operating capacity of the ecosystem at the ecological level is insufficient. From the perspective of business status, the report shows that the scores of urban commercial banks and rural commercial banks in the six dimensions of strategy, organization, technology, data, application and ecology in 2021 have improved compared with those in 2020. However, the scores of rural commercial banks in the six dimensions are lower than those of urban commercial banks, especially in the two dimensions of technology and application, which indicates that there is a big gap in technology R & D and application of rural commercial banks.
 
        Industrial digitization is the general trend of the times, and the digital transformation of small and medium-sized banks is not only a challenge for banks themselves. The report points out that in addition to the problems at the technical and talent levels, the more macroscopic problems such as transformation homogeneity, unclear ecological value positioning, data sharing and privacy protection in the ecosystem, internal and external cooperation organizations and cultural conflicts have hindered the formation of the digital ecosystem of small and medium-sized banks. In view of these deep-seated problems, the report puts forward six suggestions: from the perspective of market institutions, first, it calls on small and medium-sized banks to actively explore the implementation path of credit innovation; Second, it is suggested that the provincial association should give full play to its guiding, driving and helping role; Third, it is suggested that fintech companies pay attention to the differences between the development strategies and product demands of urban commercial banks and rural commercial banks.
 
        From the perspective of development environment, fourth, it is suggested that the regulatory authorities should give reasonable risk tolerance to small and medium-sized banks on the basis of adhering to risk prevention; Fifth, it is suggested that local governments should take multiple measures to help build the financial technology ecosystem of small and medium-sized banks; Sixth, it is suggested that the industry alliance build a high-quality platform for small and medium-sized banks' financial technology ecology and regional cooperation. Looking forward to the future, the report believes that the "14th five year plan" period will be an important strategic opportunity period for the digital transformation of financial institutions. The in-depth promotion of the development strategy of financial science and technology by small and medium-sized banks is not only to follow the trend, but also to actively seek change, and to cultivate core competitiveness on the basis of differentiated positioning. As for the characteristic brand of subdivided business forms, the report gives the following suggestions: urban commercial banks can further optimize customer risk management means through financial technology, and improve the data credit evaluation ability to serve small and medium-sized enterprise customers.
 
        The service objects of rural commercial banks are mainly long tail customers, and special attention should be paid to the whole process risk control system to explore a new way to serve agriculture, rural areas and farmers. Private banks can use financial technology as a means to improve the service level of personalized customer groups, give play to the advantages of lightweight assets, enhance customer stickiness, and achieve faster product innovation and more accurate services. (cis)。
 
        
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