Research On The Development Of Internet Finance Business Of ICBC Inner Mongolia Branch

Since 2013,large data analysis,cloud computing,mobile payment,AI artificial intelligence and other modern Internet technologies are gradually penetrating into the traditional financial field from the field of e-commerce.Internet technology and financial industry show a rapid integration trend.The emergence of Internet finance not only promotes the innovation of financial products and services,but also brings unprecedented impact and challenges to traditional commercial banks.Third-party payment,P2 P network lending,crowdsourcing and other emerging Internet financial models are continually seizing the profit space and market share of deposit and loan of commercial banks,and have become important competitors of commercial banks.Therefore,how commercial banks learn from the advanced features of emerging Internet enterprises,how to make use of their accumulated operational advantages over the years,and how to formulate practical strategies for the development of Internet finance,has very important research and practical significance.In order to adapt to the new financial environment and accelerate the transformation of its own operation,ICBC has formulated the "e-ICBC" Internet financial strategy.However,due to the differences in the economic environment of different regions,how to better close the development strategy to the local reality has important practical significance.Based on this background,this paper takes Inner Mongolia Branch of ICBC as the research object,on the basis of consulting and combing the relevant literature of Internet finance at home and abroad,clarifies the concept and characteristics of Internet finance,summarizes the development of Internet finance at home and abroad,and then analyzes its impact on commercial banks.On this basis,based on the actual situation of ICBC Inner Mongolia Branch,this paper summarizes the development process and current situation of ICBC Inner Mongolia Branch's Internet financial business,studies the three major platforms and product lines of ICBC's existing Internet finance,and deeply analyses the problems and root causes in its development of Internet finance.Then,using SWOT analysis model,the advantages,disadvantages,opportunities and threats of ICBC Inner Mongolia Branch in developing Internet financial business are analyzed respectively,and the existing factors are matched and combined.Finally,from the aspects of organizational structure,business process,product innovation,scientific and technological application,with the help of external forces,personnel training,risk prevention and control,the development countermeasures and suggestions are put forward.The countermeasures and suggestions put forward in this paper not only have guiding significance for ICBC Inner Mongolia Branch to develop Internet financial business,but also provide development ideas for other branches of ICBC.At the same time,it provides reference for traditional commercial banks to change their own business model and participate in the competition of Internet financial.