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The rapid development of information technology has had a tremendous impact on financial institutions, especially commercial banks. In this process, fintech can help commercial banks improve service efficiency, innovate business models and reduce operating costs. However, it has also created challenges for the traditional business of commercial banks. The development of fintech will intensify the competition in the banking industry, raise the interest payment cost of banks, and reduce their profitability, thus increasing the risk of banks. This article analyzes the impact of fintech on commercial banks and the problems existing in the process, and puts forward suggestions and countermeasures for the development of commercial banks.
Lujin Wang (2024) studied this question.