China’s Application of Big Data in the Banking Industry

In China’s financial system, banks remain the primary financing channel and financial service providers. However, under competitive pressure from peers, other financial institutions, and even internet companies, banks have also begun to actively develop and apply new technologies. Empirical analysis shows that the application of FinTech in the banking industry helps improve banks’ profitability. Fully leveraging data factors and positioning in big data finance are among the paths for banks and other market competitors to win in the future.