Research On The Strategies Of Internet Financial Impact For ABC Bank

With the rising popularity of internet and rapid development of internet technology, financial industry began to integrate with internet closely. Especially in recent years, a great number of internet financial companies have been established in China. Besides, with the rapid development of internet finance, ABC bank faces great pressure and challenge. Meanwhile, payment and settlement, deposit and loan, and other businesses of ABC bank suffers spin-off with varying degrees. Under this circumstance, ABC bank should face the reality of rapid development of internet finance, and make proper adjustment from management idea, strategic planning, operating strategy and other aspects.Through the research and analysis, it can be found that the influence of internet finance on ABC bank mainly includes management idea and traditional service.(1) As for traditional banks, customers came to the bank personally and were provided corresponding service according to their own demands, however, internet finance can find customers and provide services initiatively, which markedly influences management idea of ABC bank.(2)The rapid development of internet financial services has a great influence on the traditional business of the ABC bank, including decline of the growth rate of deposits, income of intermediate businesses, and growth in profit.(3)Physical network throughout urban and rural areas is a traditional advantage and one of the core competencies of ABC bank, while the internet finance impacts ABC bank due to high efficiency and low-cost advantage of virtual network.With respect to the specific circumstance of ABC bank, the following five solutions are put forward:(1) The thought of “tradesman” should be abandoned, and the service location should be changed. The bank should be committed to seek target customer, innovative business products, and precision marketing initiatively through analysis of big data.(2) Traditional client should be maintained, furthermore, small and medium-sized customers should be attached great importance.(3) The investment of palm banks of ABC bank should be increased, the various financial products for mobile payment should be developed for customers, so as to reduce dependence of customers on cash.(4) Network layout of the bank should be optimized, and “Self-service bank” should be founded.(5) the cooperation with E-commerce platform of the third party and other payment enterprises should be strengthened to expand covering domain of payment settlement businesses and improve income through charging transaction fees.(6) Data security should be strengthened, in order to prevent cross-infection of risks.