A Case Study on Fintech Inovation for Supporting Small and Micro Enterprises Financing

LEI ZHOU, RUI LIU, SI-HAN HUANG

Abstract


The development of fintech provides a new method to solve the financing problems faced by small and micro enterprises. As the innovation pilot of China Development Bank, “KaiXin Financial” Platform, with the support of Jiangsu province government, has established the "trinity" cooperation mode of “fintech platform + microcredit companies + bank”, which has achieved remarkable performances in improving service efficiency and reducing cost of microfinance. Take “KaiXin Financial” as a typical case, analyzing the use of fintech in business model, transaction process, innovative products and risk control for serving small and micro enterprises. Furthermore, the application of big data, AI and other technologies in microfinance marketing, supply chain empowerment and intelligence risk management are discussed in depth. These successful practices are beneficial to other financial platforms implementing technological upgrade under the strict government regulation. Finally, based on this case, the paper puts forward suggestions on exploring more scenarios fintech applied, improving risk management system, expanding coverage of financial services in order to enhance high-quality development of small and micro enterprises and the real economy.

Keywords


Fintech, Small and Micro Enterprises, Financing, Internet Finance, Big Data.Text


DOI
10.12783/dtem/ssemr2019/30916

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