Whether FinTech Development Enhances the Operating Efficiency of Commercial Banks——Based on the Dual Perspective of Technology Spillover Effect and External Competition Effect
Fintech is an important element in creating modern commercial banks and promoting the construction of a strong financial country.The SFA model is used to measure the operational efficiency of commercial banks and exam-ine the impact of fintech on the traditional commercial banking system.The study finds that fintech reduces commercial bank operational efficiency overall.Intermediation tests show that fintech reduces revenue efficiency by squeezing com-mercial bank spreads and suppresses cost efficiency by increasing risk-taking.The moderating effect test finds that both digital transformation and diversification undertaken by commercial banks can effectively mitigate the negative impact of fintech on operational efficiency.The nonlinear test finds that in the long run,there is a U-shaped relationship be-tween fintech and commercial banks'operational efficiency,and the technology spillover effect will gradually increase with the development of fintech,which ultimately promotes efficiency improvement.To this end,it is necessary to continue to promote the development of financial technology,encourage commercial banks to carry out digital transfor-mation,strengthen the positive impact of technological spillover effects,weaken the negative impact of external com-petitive effects,effectively prevent and control the risks of financial technology,and do a good job in this big article of digital finance.
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