A Research On The Strategy Of The Bank Of DY (China)under The Background Of The Internet Finance

In recent years,the breakout of Internet Finance shocked China's traditional financial industry so much.Because of the astonishingly rapid growth and huge service coverage,China's Internet Finance industry,as a whole,has become a benchmark for the world.The vigorous development of Internet Finance brought China's traditional banking system a couple of significant impacts and pressure,which have rarely seen since economic reform.Also,these impacts and influence could be seen in almost every other industry sector and affect individuals in terms of earnings,networks,work efficiency,and business models.The Bank of DY(China)Limited,a wholly owned subsidiary of the Bank of DY Limited,recently has been severely suffered by continuously shrinking business and declining operating profits due to the intensified competition with Internet Finance enterprises.However,based upon the SWOT analysis in this paper,it shows that the Bank of DY(China)is equipped with both valuable operation experiences in local and international cross-border banking business,and has the equal chance to share the benefits of RMB Internationalization and the "the Silk Road Economic Belt & the 21 st Maritime Silk Road"-one of the foremost national development strategies initiated in Year 2013 by China's central government.Therefore,the Bank of DY(China),with few experience and practices of Internet Finance operation,should first well define its market unique position and fully utilize its superior advantages and competences,mentioned previously,to materially enhance its core competitiveness and better serve the market demands even if the overall economic and financial environment is strictly regulated in mainland China and business threats and challenges,such as harsh market competition,ever-changing client needs,and instability of world economies,are still there.All in all,this paper suggests that the Bank of DY(China)could adopt the following five business strategies to accomplish its long-term strategic goals by:(1)utilizing its unique advantage of conducting cross-border business;(2)building up its own Internet Finance infrastructure and system;(3)strengthening the in-depth cooperation with Internet companies;(4)improving customer experience and satisfaction;(5)well managing risks of both online and offline financial services.