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in the past, small and medium-sized banks relied on their familiarity with the sinking market and organizational decision-making advantages to obtain customer resources, but their weak financial strength, insufficient physical network coverage, and low risk control capabilities made it difficult for them to compete fairly with large banks. in addition, the difference in interest rates has also become a huge challenge for small and medium-sized banks. since large banks directly grant credit, approve and issue loans online to enterprises or merchants with good credit and good development prospects, while the loan interest rates of small and medium-sized banks are generally higher, the selection range of "small and micro customers" is limited, resulting in some customer resources being "moved".

this is not only a competition between small and medium-sized banks and large banks, but also an opportunity for transformation and upgrading of the times. with the development of financial technology and changes in market demand, small and medium-sized banks need to further cultivate the local market and find new growth points to adapt to changes in the market environment. many small banks have fallen under the impact and their market share has been continuously eroded; but some small banks have risen to the challenge and their local market share has increased instead of decreased.

for example, zhejiang wenzhou ouhai rural commercial bank has taken a leading position in the local market by relying on its principles of "small, decentralized, mobile, and localized". by continuously cultivating the local market and combining financial technology, small and medium-sized banks can achieve breakthroughs and create new value and competitive advantages.

in recent years, with the support of national policies, small and medium-sized banks have actively embraced financial technology, using technologies such as big data, cloud computing, and artificial intelligence to improve service efficiency and risk management capabilities, and strengthen the training and introduction of financial technology talents. at the same time, small and medium-sized banks are also actively involved in green finance, creating new growth points, continuing to deepen the local market, and leveraging their own advantages of being close to the grassroots and understanding the local market to provide more personalized and differentiated financial products and services.

in addition, regulatory authorities should also increase their support for small and medium-sized banks, encourage large banks and joint-stock banks to further deepen and implement the assessment and incentive mechanisms to support small and micro business entities and rural revitalization, and improve the inclusive financial service mechanism of branches.