Research On Business Model Optimization Of "Credit Factory" Of China CITIC Bank Under Blockchain Technology

"Credit factory" business model is a useful exploration for commercial banks to solve the difficulties and high cost that small and micro enterprises face during financing.To a certain extent,it solves the urgent financial problems for the development of small and micro enterprises.However,due to the natural weakness and poor ability of anti-risk of small and micro enterprises,the problems of difficult and expensive financing are still common.For commercial banks,the reason why they are very cautious in lending to small and micro enterprises,or set a relatively high credit threshold,is that the "risk identification" for small and micro enterprises is relatively difficult or costly.Therefore,effective and low-cost risk identification becomes the inevitable choice to fundamentally solve the difficulties and high cost that small and micro enterprises face during financing.With the unique advantages of decentralization and non-tampering,block-chain technology helps to improve the ability of commercial banks in risk identification and control of small and micro enterprise loan business.It is effective to combine block-chain technology with the existing "credit factory" business model in order to solve the financing problems existing in the development process of small and micro enterprises.This paper takes the "credit factory" business model of China CITIC Bank as the research object,mainly explores the advantages of applying block-chain technology in credit records and risk identification,and optimizes the "credit factory" business model of China CITIC Bank.Firstly,the paper describes the scale,characteristics and existing problems of the "credit factory" business model.Secondly,the paper deeply analyzes the causes of the problems existing in the process and risk control system of the "credit factory" business model of China CITIC Bank.The paper finds that the main problems of this model are that its relative credit business is centralized and it is a shortage of intelligent process,informatization,scenario analysis,and access to "soft information".And the risk control system of this model is imperfect.Then it puts forward the idea of applying block-chain technology to optimize the "credit factory" business model of China CITIC Bank from three aspects of information,business process and risk control system.Finally,using the comparative analysis method,the paper selects the appropriate indicators to analyze the business model of "credit factory" between pre-optimization and post-optimization,and analyzes the feasibility of the optimization research from the perspective,macro environment and technology.The paper shows that:(1)credit factory of China CITIC Bank is a good business model to solve the difficulties and high cost that small and micro enterprises face during financing,but there are still problems in its process and risk management.(2)As a technical system of encryption technology,hash algorithm,hash function pointer,digital signature technology,binomial tree structure and other technologies,block-chain has many advantages in reducing costs,improving the efficiency and quality of financing services and the degree of information,and can effectively optimize the business model of "credit factory".(3)With the block-chain technology,the optimized "credit factory"business model has greatly improved in the aspects of information source,information management and information sharing,which can help banks accurately evaluate the credit rating for small and micro enterprises,identify high-quality small and micro enterprises,and improve the ability of banks to identify and control risks.This advantage can be illustrated by controlling and managing operational risk,credit risk,fraud risk,and money laundering risk.Block-chain technology provides new ideas for the innovation of "credit factory"business model,helps to promote the application of block-chain technology in solving the financing problems of small and micro enterprises,enriches the theoretical system of credit management of small and micro enterprises,and has certain reference significance for banks in the same industry to expand small and micro enterprise customers,expand business channels,and improve profitability.