Digital transformation is a choice for the financial industry to seize the new opportunities of technological revolution and industrial transformation. The Central Financial Work Conference held last year included digital finance as one of the five financial articles, requiring financial institutions to accelerate digital transformation, improve the convenience and competitiveness of financial services. In response to this, the Science and Technology Department of the People's Bank of China recently stated that the People's Bank of China has issued two financial technology development plans (the "Financial Technology Development Plan (2019-2021)" and "Financial Technology Development Plan (2022-2025)"), which guide financial institutions to fully leverage the dual driving role of digital technology and data elements through innovative regulatory tools, pilot demonstrations, and promotion of improvement projects, Empowering financial services to improve quality and efficiency. It is reported that in response to the demand for financial services in rural areas, the People's Bank of China has taken the lead in implementing the demonstration project of financial technology empowering rural revitalization, using technological means to create more than 270 digital financial models that benefit agriculture and the people according to local conditions, and has achieved positive results in alleviating financing difficulties for agricultural operators, bridging the "last mile" of inclusive finance in rural areas, and promoting the digital transformation of finance in the "three rural areas". In response to the financial service needs of the elderly, disabled and other groups, the People's Bank of China guides financial institutions to launch accessible financial services to bridge the "digital divide". As of now, more than 1000 financial institutions across the country have launched over 1100 accessible financial service client applications such as large font and voice versions, effectively reducing the threshold for financial services. In response to the financial service needs of private, small and micro enterprises, the People's Bank of China has organized financial institutions to deepen the implementation of the digital transformation and upgrading project of finance, developed a financing scheme based on the differentiated algorithm model by using big data, artificial intelligence and other scientific and technological means, put digital risk control through the whole process of pre loan investigation, in-process review and post loan inspection, and continuously improved the credit approval and risk management model, Continuously improving the availability and accuracy of credit services, empowering financial "live water" to accurately drip into private, small and micro enterprises. Under the guidance of multiple measures taken by regulatory authorities, financial institutions fully leverage the dual driving role of digital technology and data elements to promote service quality and efficiency improvement. For example, Industrial and Commercial Bank of China has upgraded its technology development strategy from E-ICBC to Digital Industrial and Commercial Bank of China (D-ICBC), focusing on a five dimensional layout of "digital ecology, digital assets, digital technology, digital infrastructure, and digital genes" to promote digital transformation; China Life Insurance continues to implement digital transformation, improving the accuracy, convenience, and inclusiveness of financial services. Its life insurance companies have an overall payout time limit of 0.38 days in 2023; Construction Bank is continuously improving the automation and intelligence level of risk prevention around key intelligent risk control projects such as "3R" and "4C" blue chips. When talking about improving the service capabilities of financial institutions, Pan Gongsheng, the President of the People's Bank of China, stated at the economic themed press conference of the Second Session of the 14th National People's Congress on March 6 that efforts will be made to deepen the enhancement of financial service capabilities in areas such as technology, green, and small and micro enterprises, Improve the internal incentive and constraint mechanisms of financial institutions, enhance the ability, adaptability, and inclusiveness of financial services; Enhance the risk of financial institutions towards technology-based enterprises