Research On The Impact Of Fintech On The Operating Performance Of Joint-stock Banks

In recent years,with the development of network technology and Internet technology,the application of science and technology in the field of finance is unstoppable.Fintech is the integration of finance and technology,which is influencing the financial order with the trend of technicalization,digitalization and scenization.Joint-stock bank is not only an important component of the banking industry,but also an important contributor to the development of national economy.The development of fintech will produce substitution effect and technology spillover effect at the same time,bringing opportunities and challenges to joint-stock banks.On the one hand,the rise of Internet finance and fintech companies has weakened the intermediary function of joint-stock banks,impacted the assets and liabilities and intermediary business of joint-stock banks,robbed the customer resources of banks,and affected the operating performance of jointstock banks.On the other hand,the development of fintech stimulates the reform and innovation of jointstock banks and drives them to continuously innovate their business development concepts and service mode,reduce operating costs and risks,improve service quality and efficiency,and improve market competitiveness.The rise of fintech and the growing maturity and development of various high-tech achievements have a significant impact on the operating performance of joint-stock banks.Faced with new technologies and new service concepts,joint-stock banks are competing with fintech companies in the financial market.Jointstock bank in China is the transition stage,however,in order to keep up with the pace of economic development and maintain their status,joint-stock bank actively absorb the benefits of science and technology,is bound to science and technology innovation elements can be incorporated into all aspects of their own development,actively responded to the requirements of the reform era,update and upgrade the internal core system,and for internal transformation,the structural adjustment and reform.Through this kind of transformation,the innovation and business income level of joint-stock banks can be improved,and the operating performance of joint-stock banks can be improved.Therefore,this thesis first defines the concept of fintech,based on the long tail theory,technology spillover theory and financial disintermediation theory,and analyzes of the impact of fintech development on the operating performance of joint-stock banks.The results show that fintech has both advantages and disadvantages on the performance of joint-stock banks.On the one hand,the development of fintech diverts joint-stock banks from deposits and loans and intermediate business income,directly reducing the profit margin of banks and crowding out the income of joint-stock banks.On the other hand,the development of fintech forces joint-stock banks to innovate and improve to a certain extent and reduce the cost level,which helps joint-stock banks improve their profit margins and thus improve their own operating performance.In terms of empirical research,according to the mechanism of China’s commercial banks,the 2016-2020 fintech development index is constructed by "text mining method",and the fixed effects model and GMM dynamic panel are used for empirical research.The research shows that the application of fintech in the field of jointstock banks can improve the operating performance of joint-stock banks.Therefore,the healthy development and deepening of fintech is of great significance to the transformation and upgrading of Joint-stock banks in China.Joint-stock banks should actively cooperate with fintech enterprises,strengthen innovation,expand revenue channels to further improve performance,and integrate development with fintech.