Study On The Influence Of Internet Finance On The Retail Banking Business

Nowadays,internet finance,with strongly innovative support,is greatly changing our habit of payment,financing and investment.The new mode of internet finance involves internet-payment,internet-financing,internet-investment on account of new technology of e-business platform,big data,cloud computing,social network,mobile network,etc.The internet finance extends its services to several traditional retail banking businesses such as payment,financing and asset management,which greatly breakthrough the boundary of traditional financial area,and stir up the competitive formation of commercial bank business.This paper studies the progress of domestic internet finance,and generizes its developing phases and fundamental formation.Analyzing the reason of the rising-up internet finance,the paper reveals its essence and feature,from three aspects of technology,thinking,and working mode.Also,according to business practice which is mostly affected by internet finance,the paper analyzes on the mechanism of retail banking payment,asset and liability,and asset management.Furthermore,based on empirical research,the paper studies the internet finance's specific influence on the retail banking business,which points out the substitution effect of traditional retail banking mostly exists in financing area,however,the spillover effect appears in the area of payment and asset management.Finally,the author proposes innovative solutions for retail banking to the rising internet finance,which suggests the industrial bank gradually improves its retail banking services and promotes its business transformation with the thoughts of internet finance.