Digitalization and Future Banking. The Impact on Community Development in Rural Areas in China

Master's Thesis from the year 2021 in the subject Business economics - Miscellaneous, grade: 1.7, , course: Digital Business, language: English, abstract: The purpose of this study was defined as to explore the contribution of digitalization (the role of digital technology) in community rural development and banking with a critical look at review of Ant Financial and Alibaba`s case study which provides an overview of the FinTech-based on digital technology. In the era of technical advancement, where everything revolves around the ``e`` world, digitalization has spread its wings over all the spheres of life.The immense use of digital devices and our growing dependency on them clearly states that digitalization is the need of the hour and has great potential to revolutionize the social-economic growth parameters thus, forming a symbiotice relationship with all inclusive growth and sustainable development. It has become that important instrument which has simplified the functioning and processes in various areas like administration, regulation, planning and operations of the socio-economic domain by ultimately enriching the quality of life.This very feature of the digital age results in sustainable development as when the societies are digitally empowered, they are more Conscious, Connected, Compliant, Collaborative and Content towards their own growth and in return they work in tandem as responsible resources for nation`s future prospects.