A Study On The Countermeasures Of Domestic Commercial Banks Under The Situation Of Internet Financial Development

As the Internet technology continues to improve, more and more consumers are used to the online shopping experience,e-commerce has achieved great accomplishments in the very recent two yeas domestically.Led by Alibaba.Co,internet companies have accumulated massive data information by providing constant platform and trade matchmaking services in e-commerce fields.Through data analysis, the Internet Co gradually mastered the user’s consumption preference and began to extend its service range to the financial industry, such as money transfer, investment,petty loans,supply-chain financing and other financial services.In the end,Internet finance came to the world.Those financial services mentioned above not only combine the open-minded, innovative characteristics of the Internet, but also meet the fast-paced modern life perfectly.The banking industry is now facing fierce competition because these Internet companies continuously providing financial services.Take bank clearing for example, which is one of the core function of the bank has been tampered gradually by the third party payment companies who are now dominating in the clearing market.What’s more,banks are losing their client resources because the products of Internet fiance suit the customer’s need much better than traditional bank products,the old cozy life for banking industry has gone forever.For domestic commercial banks, the Internet fiance is either an opportunity or a challenge.Only with positive attitude and innovative thoughts,can the commercial banks triumph in the further competition.Based on the reality, the article first analyzed multiple challenges that the commercial banks are confronting with,which are contributed by the Internet finance products.Then analyze the current main measures taken by the commercial banks.Summarizing the weakness and advantages of the commercial banks by building the SWOT model.Finally attempts to explore the further direction of the domestic commercial banks from the strategic aspect.