Research On Digital Transformation Strategy Of China Merchants Bank Retail Business

With the establishment and development of the market economic system,the market competition of commercial banks has become increasingly fierce.The traditional banking retail business has been difficult to meet the actual needs of the current commercial bank's survival and development.And as the world enters the digital age,enterprise digital transformation is the way to create value for customers by using modern information technology.The digital transformation of commercial banks has emerged in the context of the third wave,the "Internet +" strategy and the digital economy.It is the specific performance of the new generation of information technology in the banking industry.In this context,this paper studies the digital transformation of commercial banking retail business.This paper takes the digital transformation of retail business as the research object,and takes the digital transformation strategy of retail business as the research goal,and adopts the case analysis method and the literature research method.Firstly,it expounds the relevant theories of commercial banking retail business,and learns from the digital transformation of domestic and foreign commercial banks and the development trend of retail banking.Then it analyzes the transformation macro environment of China Merchants Bank's retail business,including financial environment,social and cultural environment,and retail business development trend.as well as the data analysis of the history and current status of the major retail business,including nearly six years of retail finance business,retail customers and management of total customer assets and retail loans and credit cards.Then it introduces the relevant strategies adopted by CMB in the process of digital transformation of retail business,and then analyzes its effects.The analysis found that the use of digital technology related strategies can promote the development of all aspects of the banking retail business in a more sound and perfect direction,and summarize the three advantages of CMB in the digital transformation.On the basis of this case analysis,it summarizes some experiences of the successful transformation of CMB's retail business,and puts forward some reference suggestions for the transformation of China's commercial bank retail business.The first is to provide suggestions for the transformation of retail assets,liabilities and intermediary business of China's commercial banks from big data.Secondly,from five perspectives,thedigital thinking mode of retail business needs to be appropriately transformed,namely technical thinking,ecological thinking,scene thinking,data thinking and internet thinking.Finally,it summarizes the analysis results and research findings of this paper,extracts the conclusions of this paper,and based on this,proposes targeted suggestions from different angles.It is hoped that through the research on the transformation of CMB's retail business,it will provide some reference for the transformation and development of China's commercial bank retail business,which can promote the transformation of commercial banking business and realize the sustainable development of retail business.