Case Research On Credit Product Innovation Of Small And Micro Enterprises Of Oriental Vision

In China,small and micro enterprises are not only a large number,but also involve a wide range of industries,which is an important force in the development of the national economy.However,due to the small size,lack of collateral,and the irregularity of the financial system,small and micro enterprises do not match the existing credit products of the banks,resulting in “funding difficulties,expensive financing,and slow financing ” in the development process.Based on this,banks have carried out credit product innovations.However,small and medium-sized banks can only cooperate with third-party technology companies due to their limited technical capabilities.Oriental Vision is an internet finance technology company that helps small and medium bank credit products to innovate.Based on the analysis of domestic and foreign theoretical literatures,this paper analyzes the problems existing in the innovation of credit products by taking the innovation of Oriental Vision credit products as a case,and proposes improvement measures for its credit product innovation.Firstly,this paper introduces the researches of credit product innovation in small and micro enterprises.Based on the theory of information asymmetry,enterprise life cycle theory and financial product innovation theory,this paper analyzes the general situation of credit product innovation based on the "silver tax interaction" policy of Oriental Vision.Taking the“good corporate loan” products of Chongqing Bank as an example,the specific analysis of the online product effect of credit products was carried out.Secondly,through the use of ISM model to explore the key influencing factors of credit product innovation quality for small and micro enterprises,and draw the root cause of its product innovation constraints: the maturity of the national credit system is low,the guarantee system is lacking,and the risk compensation mechanism needs to be establishment,single credit product innovation,limited coverage of credit product innovation,and homogenization of credit product innovation.Finally,based on the analysis of the case of Oriental Vision credit product innovation and its cause analysis,it proposes improvement suggestions for its credit product innovation,such as introducing credit guarantee institutions in the existing innovation model to increase the amount of loans for small and micro enterprises;innovation to optimize the quality of credit product innovation to reduce the homogenization of credit product innovation;enrich thetypes of credit product innovation based on the enterprise life cycle theory,enrich the credit product category,and improve the service scope of credit product innovation.Through the study of this case,it not only has a certain guiding significance for improving the innovation quality of Oriental Vision credit products.In addition,it also has important practical significance for improving the innovation level of credit products of small and medium-sized banks and helping small and micro enterprises to obtain credit support.