We examined the dual impact of BigTech and FinTech financing on traditional banking metrics like personal loans, credit risk, and bank performance. Through baseline regressions, alternative measures, endogeneity checks, and sub-sample analysis, our findings reveal an inverse relationship between BigTech and FinTech financing with personal loans and credit risk, suggesting severe challenges to traditional banking practices. Conversely, a positive correlation with bank performance indicates that while BigTech and FinTech disrupt certain aspects of banking, they also present opportunities for adaptation to blockchain-based financing mechanisms. Further evidence also confirmed these findings. The study informs various policymakers, stakeholder, and academic scholars.

中文翻译：

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大型科技、金融科技和银行：纠缠还是统一？

我们研究了大型科技和金融科技融资对个人贷款、信用风险和银行绩效等传统银行指标的双重影响。通过基线回归、替代措施、内生性检查和子样本分析，我们的研究结果揭示了大型科技和金融科技融资与个人贷款和信用风险之间的负相关关系，这表明传统银行业务面临严峻挑战。相反，与银行业绩的正相关表明，虽然大型科技和金融科技扰乱了银行业的某些方面，但它们也提供了适应基于区块链的融资机制的机会。进一步的证据也证实了这些发现。该研究为各种政策制定者、利益相关者和学术学者提供了信息。