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Academic Journal of Business & Management, 2022, 4(1); doi: 10.25236/AJBM.2022.040115.

Development and Transformation of Inclusive Finance in my Country's Commercial Banks


Mengran Qiu 

Corresponding Author:
Mengran Qiu

Department of Economics, Shanghai University, Shanghai, China


Different degrees of financial exclusion will exist in the process of financial development. Vulnerable groups such as low-income groups are often excluded from formal financial services and cannot obtain normal financial services. The concept of inclusive finance is based on such a reality. The realization of financial inclusion aims to enable economic entities at different levels of society to obtain the necessary and reasonable financial services and financial support. As the main body of my country's financial institution system, commercial banks are not only providers of inclusive financial services, but also play the role of leaders in inclusive financial innovation. Therefore, it is necessary to strengthen the capacity building of commercial banks' inclusive financial services and improve their inclusive financial services. The quality and efficiency of financial inclusion are related to the development level and sustainability of inclusive finance in the whole society. At present, my country's commercial banks are actively exploring and practicing digital transformation. Through the empowerment of financial technologies such as big data and artificial intelligence, they have developed inclusive financial services and product models to solve the problems of difficult and expensive financing for the private economy. This paper first introduces the dilemma of developing inclusive finance under the traditional model of commercial banks, mainly including information asymmetry, low level of management refinement, and insufficient customer coverage. The use of digitization can solve many problems in traditional models; finally, the article proposes inclusive finance for my country's commercial banks from the aspects of accelerating data application transformation, enriching customer acquisition scenarios, promoting digital process transformation, innovating risk control technology, and cultivating digital transformation professionals. Policy recommendations for digital transformation development.


inclusive finance digital transformation commercial bank

Cite This Paper

Mengran Qiu. Development and Transformation of Inclusive Finance in my Country's Commercial Banks. Academic Journal of Business & Management (2022) Vol. 4, Issue 1: 85-90. https://doi.org/10.25236/AJBM.2022.040115.


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