Bigdata Technique Implementation in Bank Industry: Evidence from China

Abstract

With the continuous maturity and progress of cloud computing, intelligent tools, Internet of Things technology and other technologies, society has entered the era of big data, which is both a challenge and an opportunity for all traditional industries. As the pillar of national economy, the financial industry should comply with the trend of the time, comprehensively analyze the impact, use big data to analyze and mine effective information and reasonably apply it to the operation of banks. Finding the path of change is the key to foster the synchronous and long-term development of the banking industry in the new era. To achieve the aim of promoting the innovation and reform of the banking industry effectively, it’s necessary to dig the answers from the examples of big data application. This study introduces the basic concepts and analysis methods of big data, shows the typical application of big data in Chinese banks, mines the convergence between banking and big data, analyzes the existing problems of big data finance and puts forward solutions. In addition, this research looks forward to the future intelligent and regular big data technique implementation in the financial industry. Overall, these results shed light on guiding further exploration of the big data implementation in financial industry.