Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 7th International Conference on Economic Management and Green Development
Series Vol. 30 , 10 November 2023
Open
Access | Article
Research on the Digital Transformation Development Strate-gy of Commercial Banks under the Background of Financial Technology
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Abstract
At present, implementing digital transformation has become the most common strategic choice of commercial banks, so it is important to study the digital transformation of com-mercial banks. The literature on Fintech and the digital revolution of conventional com-mercial banks is reviewed in this paper. This paper reviews the theoretical and empirical literature, focusing on three main issues: the influence of financial technology on commer-cial banks, the research on digital transformation of commercial banks, and the factors af-fecting the digital transformation effect of commercial banks. The vast majority of schol-ars believe that the use of financial technology can bring customers a more personalized service experience, reduce costs and increase profit levels, but it also means that the com-petitive environment for commercial banks will be more intense. According to the current development of science and technology, commercial banks must put digital transformation into practice in order to achieve sustainable development, and financial technology plays an indispensable role in the digital transformation of the banking industry. With the con-tinuous advancement of digital transformation practice, many factors affect the implemen-tation of digital transformation, including external factors such as government support, and internal factors such as the development of science and technology, digital transformation strategy formulation, and managers' awareness. This paper summarizes what people know about these issues and the questions for future research. People should look for more possi-ble factors that will affect the digital transformation of commercial banks, and study the security issues that may arise from the benefits that digitalization brings to commercial banks.
Keywords
fintech, digital transformation, commercial bank, factors
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 7th International Conference on Economic Management and Green Development
- ISBN (Print)
- 978-1-83558-081-3
- ISBN (Online)
- 978-1-83558-082-0
- Published Date
- 10 November 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/30/20231414
- Copyright
- 10 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited