The financial technology (FinTech) revolution is in full swing globally. Although technology has been a part of the financial services industry since the 1850s, it is only during the past two decadesthat FinTech has become a term to customarily describe breakthroughs in technology that potentially have the power to transform the provision of financial services, drive the creation of novel business models, applications, processes, and products, as well as lead to consumer gains(Murinde et al., 2022). With the rapid development of network technology and Internet, various traditional industries innovations are booming in China. Since 2014, a new term has entered the public's vocabulary: financial technology, or fintech. Broadly speaking, fintech involves the application of a variety of advanced technologies to support the development of the finance industry.(Y. Wang et al., 2021).