Research On The Measurement And Nature Of The Development Level Of Banking Fintech In China

Fintech has the advantages of breaking through the regional and time constraints of financial services.It can empower the digital transformation of banks in many aspects,such as reducing bank operating costs,improving risk prevention and control capabilities and optimizing financial service scenarios,which changes the development mode of traditional banks and contributes to the great change of banking industry.Different from the previous measurement of regional financial technology level,based on the new perspective of big data and traditional data integration and by using the principal component analysis method,this paper measures the financial technology development level of China’s banking industry in the long-term dimension comprehensively and objectively.Based on the measured level of banking fintech,kernel density estimation,Dagum Gini coefficient and spatial panel Durbin model are used to explore the distribution dynamics,size and source of regional differences of fintech development and its divergence characteristics in China’s banking industry from the perspective of time and space for the first time.Furthermore,the PVAR model is used to investigate the interaction between bank fintech and regional fintech.The results are as follows.The development level of banking fintech tends to diverge,indicating that the fintech level of banks will show polarization differences over time.In the eastern region with higher level of economic development,there is a mutual promotion effect between bank fintech and regional fintech.In the underdeveloped central and western regions,there is no obvious interaction effect between them.In the northeast,there is a dampening effect.For different types of banks,the side focus and entry ways of digital transformation strategy should also be different.Banks need to formulate appropriate business transformation plans in combination with their own conditions.This study enriches the construction system of financial science and technology level measurement,and provides important reference experience for revealing the changes of financial science and technology development level of China’s banking industry and exploring the coordinated improvement countermeasures with regional financial science and technology.