Research on the Influence of Digital Finance on Commercial Banks’ TFP

With the iteration of digital technology, an emerging financial industry based on the Internet platform digital finance has been formed, and the vigorous rise of digital finance has continuously eaten into the market share of commercial banks, forming a drastic impact on their profitability. However, it also forces commercial banks to change their business philosophy, adjust their business strategies and optimize their resource allocation to enhance operational efficiency. Meanwhile , the technology spil lover of digital finance also provides an opportunity for commercial banks to change their business model and upgrade their technology transformation. At present, the role of digital finance for commercial banks has become an issue of close attention in th e industry. Based on this, this paper takes digital finance as a starting point to promote competition and bring technological spillover in the financial industry, and explores the impact of digital finance on commercial banks ’ TFP and the transmission mec hanism, so as to provide a basis for decision making to promote digital transformation and sustainable development of commercial banks.