Research On The City Commercial Bank's Transformation And Development Strategies Under The Background Of Internet

With the continuous development and innovation of information technology,a series of excellent internet enterprises represented by Alibaba and Tencent have made great achievements in financial area by using new technologies.Meanwhile,they are reforming the architecture of traditional banks,and bringing radical changes to their operation models.Due to booming development of internet banking,traditional banks,city commercial banks in particular,are facing all-round challenges.The city commercial bank,playing a special role in the development of banks in China,has its own characteristics which cannot be ignored.On the one hand it develops slowly with heavy historical debts and burdens,on the other it achieves some advantages in the transformation and reforming due to the good relationship with the local government.This paper mainly discusses the influences of internet finance on city commercial banks and the transformation strategies.On the basis of studying documents in and abroad,this paper tries to define the concept of internet finance,expound the development history of internet finance,and describe how internet finance impacts on city commercial banks.Meanwhile,it also tries to come to the conclusion of the transformation strategies by analyzing the macro situation,advantages,disadvantages,opportunities and threats of city commercial banks with SWOT-PEST Analysis.Finally,this paper describes extensive transformation practices under the background of "Internet" by taking Bank of Jiangsu for example,and gives some suggestions to the bank.