Research On The Impact Of The Internet Finance To The Personal Deposit Business Of Chinese Commercial Banks

In recent years,Internet finance has emerged as a new type of financial model in China.It has been widely popular and accepted by the public because of its powerful functional advantages,and then gradually penetrates into people's work and life.The booming Internet finance has entered financial market and seized financial business rapidly,and it is like a powerful force that has significant impact on the domestic financial sector,especially for commercial banks,especially on the personal deposit business of commercial banks.Internet finance with many advantages not only reduces customer loyalty of commercial banks,but also absorbs huge amounts of funds rapidly,resulting in the diversion of personal deposits in commercial banks.Internet finance has seriously affected personal deposit business of commercial banks.Internet finance has an impact on the personal deposit of commercial banks.Firstly,this paper sorted out and summarized the Internet financial profiles,secondly,the paper discussed the theoretical analysis of the impact of Internet finance on personal deposit business of commercial banks.Then,we analysed the relationships between Internet finance and personal deposit of commercial banks empirically on the basis of theoretical analysis.The conclusions of theoretical analysis and empirical analysis were in line,proving that Internet finance has impacted personal deposit business of commercial banks.Although the current level of influence is limited,commercial banks also should pay high attention to the impact of Internet finance.Internet finance is likely to become a powerful force for diverting personal deposits from commercial banks with the development of Internet finance.Finally,based on the above research the paper provides recommendation about how personal deposit business of commercial banks deals with Internet financial impact: in order to better cope with the challenges of Internet finance and the changing financial environment,the future commercial banks should strengthen business service capacity building,carry out transformation and development of networks.Meanwhile,commercial banks should conform to the trend of the times,add to the Internet thinking.At the same time,taking Chinese economic transformation as a new opportunity,commercial banks should seize the opportunity of “Belt and Road Initiative” strategy and Supply-side reform.Meanwhile,commercial banks should strengthen the cooperation with Internet finance for achiving mutual promotion,mutual benefit.