Research On The Impact Of Internet Banking On Traditional Commercial Banks And The Countermeasures

With the continuous progress of Internet technology and the spread of the Internet, network economy has rapidly developed. Meanwhile, mobile devices, information technologies, and electronic commerce have become more and more mature, which gradually speed up the process of global economic integration and financial integration. All these factors lead to the rise of China’s Internet financial products. From third-party payment to P2P network credit and to the development of the network of financial products selling, the network of financial products has been gradually accepted by the public, because financial network has the characteristics of low cost, wide coverage, and high efficiency, promoting the reformation of the financial system. With the rapid development of new financial models, the traditional commercial banks have faced a big challenge. As a consequence, promoting commercial banks in the new financial situations has been a critical issue.Internet banking is based on Internet technology, customer requirement analysis and big data finance. It follows the developing trend of current finance area. In this paper, we analyze the impact of Internet banking on commercial banks and point out the problems of commercial banks in the scope of Internet banking. Then, we analyze the position of commercial banks in Internet banking and further present SWOT-based analysis on commercial banks when considered in the background of Internet banking, in which we give the analysis on the strength, weakness, opportunity, and threats of commercial banks versus Internet banking. The SWOT-based analysis presents the detailed influences of Internet banking on commercial banks, from internal environments to external environments. Finally, we discuss the countermeasures of commercial banks. Internet banking brings bot challenges and opportunities to commercial banks. Commercial banks have to follow up the developing trend of financial industries and integrate traditional bank businesses with network platforms, through which they will successfully cope with the impact of Internet banking.Internet banking is an innovative product of the convergence of Internet and finance. It is a challenge to commercial banks, and is also a new opportunity. Through the study of this paper, we find out that Internet banking brings high impacts on businesses and customer resources of commercial banks. Commercial banks have to utilize innovative technologies like big data and electronic commerce to cope with the impact of Internet banking.