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This research aims to create a hierarchical framework for the development of a platform business model based on big data. However, this hierarchical framework must consider unnecessary attributes and the interrelationships between the aspects and the criteria. Hence, fuzzy set theory is used for screening out the unnecessary attributes, a decisionmaking and trial evaluation laboratory (DEMATEL) is proposed to manage the complex interrelationships among the aspects and attributes, and interpretive structural modeling (ISM) is used to divide the hierarchy and finally construct a hierarchical framework. The results reveal that (1) value proposition and community building in value production are fundamental links; (2) information technology and information management in value production are technical supports; (3) customer development in value marketing is the power source; and (4) value acquisition is the last link, which is established on the basis of and influenced by value marketing and value network. This hierarchical framework aims to guide the platform toward the application of big data. This study also proposes engagement of stakeholders for promoting value creation and establishing a sound business model from multiple levels and links.

Due to the three functions of cost reduction, disintermediation, and information asymmetry, internet finance continues to impact the traditional banking business in the financial industry, posing a new competitive risk for commercial banks. In developing countries such as China, given the imperfect development of the financial market, the government needs to introduce a series of policies, but new policies will bring the risk of market uncertainty. Due to the double uncertainty of the market and the system in developing countries, commercial banks are caught between competitive and new policy risks. Therefore, exploring the impact of these two risks on the performance of commercial banks is very important to allow commercial banks to discern, resist, and respond to risks. This research uses the data of A-share listed banks for the past 10 years. Empirical research shows that internet finance and interest rate liberalization have a negative impact on bank performance. The liberalization of interest rates further increases the negative impact of internet finance on bank performance.

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