Research On The Transformation Strategy Of Traditional Commercial Banks Under The Impact Of Internet Finance

As an important part of modern service industry and support power for economic and social development,the commercial bank is being under the influence of the Internet.The urgency of the innovation and development of the traditional commercial bank restructuring and upgrading has become increasingly prominent,especially since 2013,the rapid development of Internet banking has brought a serious impact on traditional commercial banks,and made a significant impact on their competitiveness.The survival and development of commercial banks will be under threat necessarily if this problem has not attracted attention.Using the literature research method,this thesis collects and sorts out the previous research on the Internet financial and upgrading of commercial banks.Using relevant principles of management,this thesis analyzes the impacts of traditional commercial banks facing the rise of Internet banking and its transformation strategy through the normative research method.This paper argues that Internet banking and traditional commercial banks have their own advantages and disadvantages,which are highly complementary.The reason is that Internet banking is the product of market economy,and its emergence is due to the shortcomings of traditional commercial banks.This thesis believes that the shortcomings of internet financial will be solved step by step through guidance and supervision from government,self-regulation from industry and strengthening the concept of law of enterprises.The impact of internet banking on traditional commercial banks is manifested in collapse and reconstruction of the competitive advantage,and the charge of three major business including liabilities business,asset business,intermediate business.Based on the general rules of enterprise transformation,this thesis proposes the transformation direction of commercial banks,including the full use of modern information technology to transform the traditional business process,playing own advantages to lead the healthy development of internet banking,vigorously applying new Internet technologies,enhancing innovation ability through reform and redefinition of target market.Therefore,commercial banks must pay attention to four aspects in the transformation,promoting the business philosophy,constructing the service system to adapt to the era of big data,building a research and development system to adapt to the development of internet banking,and establishing a new human resource management system.The thesis puts forward specific tasks and requirements for these five transformation strategies.