Research On The Development Path Of Fintech Of Bozhou Yaodu Bank

Since the concept of Fintech was introduced into China,it has become a hot industry focused by domestic investors and entrepreneurs.In 2016,Chinese total Fintech financing has reached the first place in the world.With Chinese economy entering a new normal,financial institutions,especially the banking industry,urgently need to provide new momentum for industrial transformation and upgrading,better serve the real economy,and conform to the trend of Inclusive Finance with the help of Fintech,such as big data,cloud computing,artificial intelligence and so on.However,in the specific implementation of Fintech,large commercial banks with abundant resources and small and medium-sized commercial banks with limited scale show different development patterns.Large commercial banks quickly occupied the frontier of science and technology means and drastically carried out reforms in the whole line,in the support of the research and development strength of domestic Internet giants.Due to many factors,such as insufficient investment in R&D,immaturity of external financial science and technology industry,various forms of change and complexity,small and medium-sized banks have tried many times on how to apply financial technology,either blindly follow the application mode of large commercial banks,or spend more resources than they can afford.At present,most regional banks are still at the stage of exploring how to transplant Fintech into the banking system.In this context,this paper selects Yaodu Bank,located in Bozhou City,northwest Anhui Province,as the research object.Based on the operating environment of Yaodu Bank,this paper analyses and expoundes the application of financial science and technology in strategy,organizational structure,products,services and marketing,risk prevention and control,etc.It also extracts the experience of Yaodu Bank in expanding its scale rapidly in a short period of one or two years and becoming a model in the industry,and puts forward relevant enlightenment for the layout of Fintech of small and medium-sized banks in China.In the process of writing,the article is divided into five parts to discuss.Firstly,the article summarizes the development process of Yaodu Bank,and introduces the operation status of Yaodu Bank from three perspectives:deposit and loan business,intermediary business and operating performance.Generally speaking,Yaodu Bank is in a good state of operation at present.The loan business and business income mainly consisting of personal lo ans show a steady growth trend year after year.The main profit growth point is interest income,and the business scale is expanding constantly.At the same time,the bank develops a variety of financial services and bank card application scenarios,with Fintech for banks to win social recognition and visibility.Secondly,it discusses the motivation of Yaodu Bank to develop Fintech.Starting from the internal and external perspective,this paper analyses the problems encountered by Yaodu Bank in its development.It expounds that under the external environment of the improvement of the living standard of residents,the widespread popularization of the Internet,the change of consumption concept and behavior,and the change of the original competition pattern,Yaodu banks,which mainly serve the local economy and account for a large proportion of personal loans,are facing the problems of narrowing profit margin and rising non-performing loan rate.As the government’s project of building a smart city can provide a lot of data resources for banks,Yaodu Bank has chosen to borrow Fintech to get out of this dilemma and provide solutions for the development of banks and their next expansion.Thirdly,it makes an all-round analysis of the application of Fintech in the banking system of Yaodu Bank,and concludes that in the process of implementing Fintech,Yaodu Bank first strategically guarantees the implementation of Fintech,and then applies them to products,services and marketing,risk prevention and control,etc.By combing the honors that banks have gained in recent years due to Fintech,as well as expanding business scope,improving performance and enhancing risk prevention and control capabilities,it is confirmed that Fintech has brought a new change to banks,and also points out the shortcomings of the current application of Fintech in Yaodu Bank.Finally,based on the results of the previous analysis,the paper concludes with six enlightenments from the standpoint of small and medium-sized banks:although there are obstacles,small and medium-sized commercial banks in China still have great potential in developing Fintech;small and medium-sized banks should actively adjust their strategies,incorporate Fintech into their development strategies,rationally plan their layout and not blindly imitate them;explore external channels of cooperation within a reasonable cost range,collect ideas;adhere to the development concept of customer-centered,differentiate operation,and create bank brand characteristics;pay attention to the rational allocation of all bank resources and optimize the bank structure;they should also pay attention to the safety precautions of banks,so as to avoid the risk problems that may arise from attaching importance to development while neglecting defense.