Analysis On The Fin Tech Innovation And Development Of Chinese Small And Medium-sized Banks

Big data,block chain,cloud computing,and artificial intelligence are the main technologies of Fintech.With the rapid development of these technologies,financial industry of our country is profoundly influenced.Traditional banking business is shocked by these new technologies.As the result,large banks of China have spent amount of financial resources in developing their own Fintech systems.Due to the limited conditions,however,small and medium sized banks cannot do so.Therefore,it is crucial for these banks to find suitable paths,so that they are able to have a place in the competitive financial market.First of all,this paper is based on the research and studies of Fintech both in and out of China,introduces the definition,main technologies,influence to the banks and their responses to Fintech,and analyzes the present status of development of small and medium-sized banks in five respects,which are banking products,selling modes,intelligent customer service,risk control and building financial ecology.Second,the paper uses case study,to analyze the opportunities,advantages,problems and risks Z Bank meets with in developing Fintech,and summarizing several characteristics that Chinese small and medium-sized banks have in common.Last but not the least,the paper provides five suggestions for financial regulatory authorities as well as Chinese small and medium-sized banks in developing Fintech: accelerating the procedure of making regulatory policies,applying Fintech in banks’ future development strategies,accelerating banks’ self-construction procedure,controlling the banking system risk from Fintech,encouraging corporations between banks and Fintech companies by building a scientifically programmed financial ecology.Hoping these suggestions will boost the development of Chinese small and medium-sized banks.