The study on commercial bank's risk management behaviour with the innovation of its scientific and technological financial product by big data analysis algorithms

Abstract

With the in-depth development of global economic integration, the competition in the financial industry at home and abroad has become more and more severe, and the innovation of financial products has gradually become a new development trend in the financial industry. For commercial banks, strengthening the innovation of financial products can attract more customers, thus reaping more substantial income and maintaining an advantageous position in the market competition. However, in the process of financial product innovation of commercial banks, the financial risks are also increasing, and how to achieve effective management of financial product innovation risks has become one of the hot topics of concern in the field of commercial banks. This paper takes the study of risk management of technological, financial product innovation of commercial banks as an example, based on methods of big data analysis algorithms, analysis of correlation, analysis of effects, analysis of Variance and analysis of regression, through questionnaires and research results, literature review, to explore Commercial Bank’s Risk Management Behavior on the innovation of its scientific and technological financial product(CBRMB) and its influencing factors. Regarding CBRMB, It mainly describes the degree of its risk influence through the following two aspects, including the number of inspectors and research budget, and among the influencing factors research Commercial bank's Risk management (CBRM), Commercial bank's Human Resource management (CBHRM), Commercial Bank's supervision ability on its Financial product innovation (CBSA), Commercial Bank's Internal control system (CBICS), and Commercial Bank's Development of scientific and technological financial products (CBD). According to the regression model operation results, commercial banks can refer to the research recommendations and optimize their scientific and technological innovation and risk management, improve the problems in the risk system, and enhance the operational efficiency of commercial banks to promote the healthy development of the financial market.