The Influence of Financial Technology on the Business of Commercial Banks and Measure Suggestions

With the continuous development and improvement of financial technology, commercial banks are facing huge impacts and challenges brought about by financial technology, but what follows is a huge opportunity for the transformation of commercial banks. Therefore, this research analyzes the four aspects of the impact of financial technology on commercial banks, and explores the challenges that financial technology brings to commercial banks’ development strategies, traditional businesses, and business processes. For the measures taken, commercial banks need to improve the financial technology-related infrastructure, and improve the main functions of supervision technology and the transformation of cultural values. This research provides theoretical basis and implementation suggestions for the transformation of commercial banks through theoretical research.