Research on the Impact of Financial Technology on Traditional Banking Business and Coping Strategies

Yuting Lin ()
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Yuting Lin: Quanzhou Normal University, Tan Siu Lin Business School

A chapter in Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025), 2025, pp 165-171 from Springer

Abstract: Abstract Under the wave of the digital technology revolution, financial technology, relying on the systematic integration of emerging technologies such as the internet, big data, artificial intelligence, and blockchain, is reshaping the ecological structure of the global financial industry. With the rapid development of financial technology, many innovations and transformations have been introduced into traditional banking operations. Financial technology innovation has had a profound impact on traditional banking operations, presenting both opportunities and challenges. This study examines the positive and negative effects of financial technology on conventional banks. It systematically diagnoses the weak links in traditional financial institutions in areas such as technology application, product iteration, and process reengineering. In response to these impacts, the study recommends focusing on strengthening technological innovation and digital transformation, optimizing business models and service innovations, among other dimensions, to help the banking industry achieve coordinated development in service quality and efficiency enhancement and digital transformation, providing decision-making support for traditional financial institutions to formulate technology-driven strategic transformation plans.

Keywords: Financial Technology; Traditional Banking Business; Response Strategies (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-874-5_21

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DOI: 10.2991/978-94-6463-874-5_21

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