The Path and Challenges of Financial Service Innovation in the Digital Economy Era

This article explores the path, challenges, and response strategies of financial service innovation in the digital economy era. Firstly, the development status and trends of the digital economy were elaborated, including the continuous expansion of scale, development in e-commerce, digital finance, intelligent manufacturing, digital healthcare and other fields, as well as the trend of technological innovation driven, deepening industrial integration, and strengthening global cooperation. Then, the limitations of traditional financial service models and the problems they face in the digital economy era, such as poor customer experience, high operating costs, increased difficulty in risk management, and insufficient innovation capabilities, were analyzed. Then, the path of financial service innovation was elaborated from three aspects: financial technology application, digital financial product innovation, and service model innovation. For example, big data was used for precision marketing and risk assessment, artificial intelligence was used for intelligent customer service and investment advisory, and blockchain was used to promote cross-border payments. New financial products have the characteristics and advantages of personalization, convenience, and innovation. The online service and intelligent customer service innovation have improved service efficiency. At the same time, it is pointed out that financial service innovation faces technological risks, regulatory challenges, and talent shortages, including data security, system stability, regulatory requirements for new business models, and a shortage of composite talents. Finally, response strategies were proposed, such as strengthening technology risk management, improving regulatory systems, cultivating and introducing talents, and summarizing the path, challenges, and broad prospects of financial service innovation in the digital economy era.