Research On Internet Financial Business Of The Bank Of Communications Z Branch

Since the launch of the Yuebao in 2013,the Internet finance has gone through a rapid development.The Internet companies,headed by Alibaba,Tencent and Baidu,have been carry out on a large scale involved in financial business,on the basis of rapid innovation,the Internet companies quickly changed the way of financial behavior and capital integration of consumer,and shaken the absolute dominance of commercial banks in traditional financial businesses.Facing the huge impact of Internet finance,Commercial banks of China are promoting the Internet business process,and developing Internet financial businesses such as online banking,mobile banking,financial products and e-commerce platform to meet challenges.However,due to the late start of thinking transformation and the risk factors brought by the inherent characteristics of Internet financial business,the development of commercial banks' Internet financial business is facing many difficulties.A reasonable analysis to the development of commercial banks' Internet financial business and put forward the development strategy of commercial banks' Internet financial business,which has become the key problem for the future development of commercial banks in the background of information age.This paper takes the practice and exploration of the Bank of Communications Z branch on the Internet financial business as a sample.Firstly,the concept and main characteristics of Internet finance are clearly defined from the perspective of theory.Based on the long tail theory,financial intermediary theory and transaction cost theory,this paper analyzes the impact of Internet Finance on traditional commercial banks.Secondly,according to the typical models and cases of the development of international commercial banks' Internet financial business,this paper summarizes the experience of international commercial banks in this respect and draws inspiration for this research.Finally,on the basis of theoretical analysis and international comparison,using the PEST model and SWOT model to analyze the development of the Bank of Communications Z branch.Summing up the political,economic,social and technical environment of the Bank of Communications Z branch,as well as opportunities,threats,advantages and disadvantages.The research results show that there are some problems in the development of Internet financial business,such as Risk control strictly restricts the innovation,lack of professional and technical personnel,lack of data technology storage and complicated business process.In order to comprehensively promote the development of the Internet financial services of the Bank of Communications Z branch and promoting the influence of the Bank of Communications Z branch in the Internet era.This paper aims to enhance the development strategy of Internet financial business of the Bank of Communications Z branch.In the aspect of countermeasures and suggestions,the Bank of Communications Z branch needs to establish Internet thinking,innovative products according to demand;strengthen the construction of talent mechanism,introduce professional team;strengthen business cooperation,make full use of advantages technology;realize fine management and optimize business process.In the aspect of institutional guarantee,the Bank of Communications Z branch needs to build a large credit risk data system;establish a multi-level risk control system;and optimize the organizational structure of the branch.