Research On The Impact Of The Development Of Internet Finance On The Personal Wealth Management Business Of Commercial Banks And The Countermeasures

In recent years,internet finance has occupied the market and been recognized by consumers.The development of internet finance,on the one hand,has improved the financial market and promoted the development of the financial market;On the other hand,it also has a profound impact on the traditional business of commercial banks,especially personal financial management business.In this paper,China merchants bank as an example,the comprehensive use of literature research,comparative analysis and case analysis to analyze the impact of the development of internet finance on the personal financial services of commercial banks.The conclusion is that the development of internet finance brings new opportunities for commercial banks to expand their personal wealth management business,such as new customers and channels,reduce production costs.at the same time,the personal wealth management business of commercial banks also faces the challenges of weakening intermediary function,the customers of banks and deposit and loan business are being diverted,the competition between banks is intensified,and the profits are correspondingly compressed.Finally,in view of the influence of internet financial development on personal financial management business of commercial banks,this paper puts forward some countermeasures: 1.business development must strengthen the innovation of products and business.2,internal management,must provide good hardware and environmental protection for employees,commercial banks need to optimize the system,strengthen risk control.3,must constantly strengthen the service ability and financial management personnel professional quality.4,commercial banks can not fight independently,need to strengthen cooperation in different industries,do a good job in customer precision marketing.