A Study About The Innovation And Development Of Internet Financial Model In BOC

With the rapid development of internet technology in recent year, internet finance, which represented by third party payment, P2P online lending and electronic banking, suddenly appeared on the history. Internet finance which advancing rapidly, is changing people’s consumption habits and needs of financial services, which impacting on commercial bank’s traditional business model. It will also create a lot of new financial service demand which will be a huge market space in the future. How should commercial banks do to comply with the new situation? It is worth researching.Bank of china (BOC) has successfully launched the Internet finance business, such as online banking, electronic business, mobile banking platform of "Network Tong Bao", online loans and "Community of BOC". Those forms of Internet finance business have got a certain achievements. Under the new situation, however, BOC still faces various challenges. So if BOC want develop internet banking business, it needs to push on innovation and transformation actively. Based on the analyses of current situation and development of the internet finance in china, this paper uses the SWOT model to carry on research on its strengths, weakness, opportunities and challenges when BOC developing the internet finance business. Through the analyses, we reached the following conclusions. Under the new situation, on the one hand, the ideology and culture, the business mode, company business, personal service and integrated service of BOC face challenges; on the other hand, BOC has the opportunities of financial regulation, risk management, customer resources and so on. Therefore, BOC should make full use of its advantages and opportunity, learn from each other to improve itself, then take action such as strengthening cooperation, process optimization, putting more focus on customer experience, improve innovate mechanism construction, attaching more importance to innovation development, strengthen the date integration and improving internet management level to develop the internet finance business actively and finally achieved the sustainable development.