Research Article
Study on Impact of COVID-2019 on the Development of Financial technology on Internet Banking in China Based on Comparative Data
@INPROCEEDINGS{10.4108/eai.18-11-2022.2326872, author={Yi Wang}, title={Study on Impact of COVID-2019 on the Development of Financial technology on Internet Banking in China Based on Comparative Data}, proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China}, publisher={EAI}, proceedings_a={ICEMME}, year={2023}, month={2}, keywords={internet banking; development strategy; covid-2019}, doi={10.4108/eai.18-11-2022.2326872} }- Yi Wang
Year: 2023
Study on Impact of COVID-2019 on the Development of Financial technology on Internet Banking in China Based on Comparative Data
ICEMME
EAI
DOI: 10.4108/eai.18-11-2022.2326872
Abstract
Covid-19 epidemic has had a significant impact on the production and life of the whole society. People urgently need noncontact financial solutions, and online banking has become a hot spot. China's Internet penetration rate rose rapidly from 16% in 2007 to 71.6% in June 2021, and the number of mobile Internet users reached 1.007 billion. By 2020, the scale of China's third-party payments has exceeded 400 trillion yuan, and the scale of noncard payments accounts for 63.4%, of which about 80% belongs to mobile payments. This paper analyzes the literature and evaluates the hot cases during the epidemic period based on China's Internet banking operation data before and after the epidemic. Based on the strategic management theory, this paper uses the mature external analysis model PEST model for analysis, evaluates the impact of covid-19 on the Internet banking industry, and puts forward methods to overcome these impacts.