A Research On The Strategy Of Commercial Banks Under The Impact Of Internet Finance

In 2013, Yuebao, a money-market fund launched by Alipay came out, reaching the scale of 185 billion yuan at the end of 2013, achieved a significant success. The same year, Zhong'an online property insurance company became the first company to obtain the network insurance license. At the same time, the transaction scale of the e-commerce market in China has been expanding rapidly. It is no doubt that the industry of Internet finance in China has an explosive development, the era of big data, Internet of things and cloud computing is quietly coming. As an emerging model of finance, Internet finance depends on the technology of the Internet and mobile communication to achieve mortgage financing, payment and settlement. On the one hand, the development of Internet finance has changed people's way of life, such as consumption habits, savings habits and payment habits, which are gradually changed. It provides more financial investment way for people. On the other hand, Internet finance brings the huge impact on traditional business of commercial banks, especially in the payment, settlement, investment, loans, deposits and the consignment business of insurance and fund. The business model and business philosophy of traditional business of commercial banks will be reformed, and the intermediary status of them has been shaken. Accordingly, traditional business of commercial banks must pay high attention to the impact of Internet finance, adapting to the trend of the development of the Internet. They also have to actively promote to the integration of the information technology and finance. Moreover, traditional business of commercial banks should take their own advantages on customer resource and risk-control mechanism and provide customers with diversified, personalized and comprehensive financial services and products to attract them.Based on the above the research background and significance, firstly, this paper discusses the causes of the Internet finance and the development status at home and abroad. Then it expounds the six formats of Internet finance and analyses the impact on the traditional business of commercial banks by using the combination of quantitative and qualitative analysis. Finally, at the end of this paper, in order to propose the inspirations of strategies of traditional business of commercial banks to deal with Internet finance, it takes the strategy of "e-ICBC" of Industrial and Commercial Bank of China as an example, analyzing its background, strategic meaning, strategic thinking, strategic layout and strategic practice.This paper considers that traditional business of commercial banks should take measures on the following aspects. Firstly, it is necessary to enhance customers' stickiness by focusing on the customers. Secondly, it cannot be ignored to reserve information and big data to construct the information bank. Furthermore, traditional business of commercial banks should accelerate the construction of integrated financial platform. Finally, traditional business of commercial banks need build the online to offline model. The innovation of this paper is the summary of the status of six formats mode of Internet finance in China and the impact on traditional business of commercial banks, depending on the combination of quantitative and qualitative analysis. Also, another innovation point is that this paper takes the concrete "e-ICBC" strategy as an example to discuss the measures to Internet finance, based on a specific complete strategy. So the inspiration for traditional business of commercial banks contains more practical and guiding significance.