Research On The Impact Of Internet Finance On Kunshan Agricultural Bank Business And Its Development Strategy

With the rapid,in-depth development and innovation of internet information technology,there are lots of applications in financial sector as well.Fintech,aka.Finance Technology,used to be behind-the-scene in domestic Financial market,became an emerging star in as Tian Hong Fund unveiled Yuebao in Jun 2013.Given the technology boom in mobile communication,big data and cloud computing,as well as supervisory vacuum,Fintech has been sky-rocketing with different kinds of innovative financial products and services in recent years.As to Kun Shan Agriculture Bank(KSAB),we've seen huge challenges and impacts brought by Fintech.Under the interest rate liberation reform,KSAB should have its finger on the pulse,react to changes,in order to minimize impacts from Fintech.Firstly,This article summarizes Fintech background,and conduct theoretical analysis.Secondly,describe the current situation of KSAB under the Fintech wave,and how Fintech challenged business assets,liability assets and intermediary business.Based off SWOT model,we discuss how KSAB should undertake strategies given its internal strengths and weakness,as well as opportunities and threats presented by external environment.The conclusion is to proactively action on threats and impacts,remain competitive across the industry.Lastly,this article recommends KSAB should examine Fintech impact into business assets,liability assets and intermediary business individually.As for long-term strategies under the Fintech era,KSAB should build out mechanisms around the following areas: continuously look for new products and services,innovate financial product designs,revamp data collection and security,improve risk management,and incubate interdisciplinary talents.