Research on the Transformation and Development Strategies of the Financial Industry in the Digital Economy Era from the Perspective of Innovation Theory

Due to the extensive use of digital technologies across numerous industries, the socio-economy have entered the digital economy era, bringing new challenges and opportunities for development in all sectors. The financial industry, being a vital part of the national economy, is facing immense pressure for digital transformation. How to seize the opportunities brought by the digital economy and achieve sustainable development through digital transformation is a crucial issue facing financial institutions. Based on the review of relevant theories and current studies concerning the digital economy, it employs methods such as literature research, survey research, and comparative analysis to research how the financial sector is affected by the digital economy and evaluate the opportunities and challenges the sector is facing in this new digital economy age. On this basis, focusing on the perspective of innovation theory, it proposes innovative strategies to drive the digital transformation of the financial industry, provide specific measures from five aspects: technological innovation, product innovation, service innovation, channel innovation, and innovation of organizational mechanism and support. This research provides strong guidance for the development of the financial sector and its digital transformation in the era of the digital economy.