2017年中国人民银行成立金融科技（FinTech）委员会，力求深化我国金融 科技工作发展规划与协调。金融科技是指利用大数据、人工智能、云计算等技术 驱动的金融创新，为金融发展注入了新的活力。 2019年中国人民银行颁布《金 融科技（FinTech）发展规划（2019-2021年）》，提出到本世纪第三个十年初期， 达成我国金融科技发展位居国际领先水平的目标。2019年四季度，证监会主席 易会满也同时提出：满足人民群众财富管理需求，是新时代资本市场发展的重要 使命,简明扼要的指出资本市场现有矛盾与证券行业下一阶段发展方向。对于国 内券商而言，借助金融科技进行证券经纪业务服务转型，满足人民群众日益增长 的财富管理需求，符合我国证券行业未来发展方向，将实现金融科技应用先进可 控、金融服务能力稳步增强、金融科技支撑不断完善、金融行业繁荣发展。 论文首先对证券经纪业务定义、国内外发展历程、现状进行介绍。结合金融 科技提出经纪业务发展趋势。为经纪业务服务转型提供理论支撑，并搭建经纪业 务服务转型理论架构。然后对H证券这一传统券商金融科技背景下经纪业务服 务转型案例进行评价，肯定其转型过程中正向效果，分析存在的不足之处与原因， 探讨如何加快其经纪业务服务转型方法，并为证券行业经纪业务服务转型提供借 鉴与参考。 本文通过文献研究与案例分析得出我国券商经纪业务服务转型应遵循国内 外经纪业务发展趋势与规律，基于国内政策层面和金融科技应用层面优势，满足 我国资本市场财富管理需求，寻求一条既符合金融行业发展规律，又符合我国资 本市场具体情况的转型之路。将我国传统经纪业务服务借助金融科技进行拓展延 伸。从服务业态、服务运营、服务支撑三方面进行重塑，以公司整体系统化转型 取代局部、单点转型，为证券行业提供指导，全面推进我国券商经纪业务金融科 技服务品质变革。探索一条行之有效，有助于证券公司经纪业务转型的发展之路， 为券商经纪业务发展提供更多借鉴途径。 关键词：金融科技；证券经纪业务；转型效果评价 Abstract 2 Abstract The People's Bank of China established the Financial Technology (FinTech) Committee to strengthen research planning and overall coordination of the FinTech work in 2017. FinTech is a financial innovation driven by big data, artificial intelligence, cloud computing and other technologies, which has injected new vitality into financial development. In 2019, the People's Bank of China promulgated the FinTech Development Plan (2019-2021), and proposed to establish and improve the ‘four pillars and eight pillars’ of China's financial technology development by 2021. The guiding ideology, basic principles, development goals, key tasks and safeguard measures for Fintech work in the next three years were clarified. It is proposed that by 2021, China's Fintech development will be at the international advanced level. At the same time, Yi Huiman, chairman of the China Securities Regulatory Commission, proposed in the fourth quarter of 2019 that meeting the wealth management that demand of the people is an important mission for the development of the capital market in the new era. For domestic securities firms, the transformation of securities brokerage business services with the help of Fintech meets the growing wealth management needs of the people and meets the future development direction of China's securities industry. It will achieve advanced and controllable application of Fintech, steadily increase financial service capabilities, and financial Technological support is constantly improving and the financial industry is booming. The thesis first introduces the definition of securities brokerage business, the development history, and then proposes the development trend of brokerage business in combination with Fintech. The thesis provides theoretical support for the transformation of brokerage business services, and builds a theoretical framework for the transformation of brokerage business services. The thesis evaluates the case of brokerage business service transformation under the background of traditional securities Fintech of H securities, affirms the positive effect of the transformation process, analyzes the existing deficiencies and reasons, explores how to accelerate the transformation method of brokerage business service. The industry broker business service transformation provides reference. Based on literature research and case analysis, this thesis concludes that the transformation of China's securities brokerage business services should follow the development trends and laws of domestic and foreign brokerage businesses. Based on the advantages of domestic policies and Fintech application levels, it can meet the needs of wealth management in China's capital market, and seek a financial management. The development law of the industry is in line with the transformation of China's capital market. Extending and extending China's traditional brokerage services with the help of financial technology. The thesis suggests remodeling from Abstract 3 three aspects: service format, service operation, and service support, which can lead to replace partial and single point transformation with the company's overall systemic transformation, provide guidance to the securities industry, and comprehensively advance the reform of Internet service quality in China's brokerage business. It can be concluded to explore an effective and helpful development path for the transformation of brokerage business of securities companies, and provide more reference ways for the development of brokerage business of securities firms. Keywords: FinTech; Securities brokerage business; Evaluation of transformation effect. 目 录 4 目 录 导 论 ......................................................... 6 一、研究背景与意义 .............................................. 6 二、文献综述 .................................................... 7 三、研究思路与研究方法 .......................................... 9 四、本文主要观点及创新 ......................................... 10 第一章 证券经纪业务服务金融科技转型理论分析 ......................11 第一节 证券经纪业务理论 .......................................... 11 一、证券经纪业务简介 ........................................... 11 二、国内外经纪业务发展历程 ..................................... 12 三、国内外经纪业务现状 ......................................... 13 第二节 金融科技服务理论 .......................................... 16 一、 金融科技简介 .............................................. 16 二、 传统经纪业务面临困境 ...................................... 16 三、 金融科技推服务优势 ........................................ 16 第三节 证券经纪业务服务转型理论基础 .............................. 17 一、基于O2O线上线下服务模式 ................................... 17 二、金融科技转型需提升三方面能力 ............................... 19 三、 全面转型“O2O财富管理”服务体系 .......................... 20 第二章 金融科技背景下H证券经纪业务转型实践 ......................21 第一节 H证券简介................................................. 21 一、公司介绍 ................................................... 21 二、公司理念 ................................................... 21 三、发展方向 ................................................... 21 第二节 H证券经纪业务概况......................................... 22 一、经纪业务收入集中性风险较高 ................................. 22 二、H证券经纪业务交易佣金收入持续下滑 ......................... 23 三、融资融券业务现状 ........................................... 24 四、H证券客户资金存款萎缩 ..................................... 24 第三节 H证券经纪业务转型具体举措................................. 25 一、金融科技服务业态 ........................................... 25 二、金融科技服务运营 ........................................... 27 三、金融科技服务支撑 ........................................... 29 第三章 H证券金融科技服务转型效果评价 ............................31 第一节 经纪业务服务转型正向效果 .................................. 31 一、经纪业务收入转型 ........................................... 31 二、服务业态转型正向效果 ....................................... 32 三、服务运营转型正向效果 ....................................... 33 第二节 经纪业务服务转型存在的不足 ................................ 34 目 录 5 一、H证券经纪业务转型整体