The Research On The Digital Transformation Strategy Of Retail Business Of Bank Of China Shenzhen Branch

In today's era of great development of Internet,rapid development of fintech and financial openness supported by the state,financial demands of customers are increasingly diversified,industry competition is increasingly fierce,and cross-border competition has become the norm.Transformation and upgrading have become the inevitable choice of domestic commercial Banks.Compared with corporate business,retail business has the characteristics of large customer base,relatively concentrated business needs,high degree of financial product standardization,and obvious dependence on scientific and technological system,which makes it more suitable for digital transformation.Therefore,retail business has become the pioneer field of digital transformation in various industries.The digitalization of retail business of commercial Banks is not simply the introduction of several digital products or the mechanical transformation of products online.It needs to carry out in-depth reform from multiple perspectives,such as internal organizational structure,fintech research and development,digital service and marketing channel building,and intelligent and organic coordination of online and offline channels.According to the scale and operation characteristics of commercial Banks,the digital transformation of retail business of commercial Banks can be divided into three modes: independent research and development mode,cooperative and sharing mode,and direct introduction mode.The concentration of innovation elements in shenzhen has always been the highland of financial innovation,especially the gradual promotion of the construction of guangdong-hong kong-macao greater bay area.The development of fintech industry and supporting industry chain concentrated in shenzhen and Hong Kong has provided channels,technologies and rich application scenarios for commercial Banks to implement deeper digital transformation.The research object of this paper--shenzhen branch of bank of China is a large state-owned bank that entered shenzhen earlier,and also a test base of technological innovation of the head office of bank of China.With the constant innovation of Internet technology,shenzhen financial forms increasingly diverse,the Banks,bring crosslinking consumption by building a new type of credit institutions,such as online ecological service scenario and smart new model of the risk,rapidly promote small micro credit scale,the industry model,the represented by the bank of China shenzhen branch line of the state-owned large market share form obvious impact.Deposit a large number of outflow to balance treasure new classes of cash financial management products,such as personal loans market share by all kinds of P2 P,WeBank particles,such as the Internet financial institutions,fund and insurance agency business is increasingly being by all the online direct marketing channels of the company and the insurance company to replace,in addition,the bank's credit card market is "bai","borrow bai" and other Internet financial products,commercial Banks to carry out the digital transformation of retail business is the inevitable trend in the future of the development of financial forms.This paper from the bank of China shenzhen branch current retail business development present situation and problems,through the literature survey research,trade,industry experts interview and questionnaire,the retail business of bank of China,shenzhen branch complex internal and external environment faced by carding analysis,including the external environment analysis mainly USES the PEST model to analyze the development of the retail business of bank of China,shenzhen branch facing the external environment,summarizes the opportunities and threats faced by the retail business development;The internal environment analysis mainly analyzes the industrial competition environment of bank of China shenzhen branch through porter's five forces model,and summarizes the advantages and disadvantages of bank of China shenzhen branch.On this basis,SWOT analysis is carried out on the digital transformation strategy of its retail business,SWOT matrix is constructed,and Suggestions are made for the optimal strategy selection--the implementation of the torsion strategy,and the realization of high differentiation by giving full play to the core expertise and using external opportunities to make up for the weakness.On the basis of putting forward the overall strategy Suggestions,this paper analyzes the customer management strategy,product strategy,channel management strategy,promotion strategy and safeguard measures of internal system,and puts forward specific implementation Suggestions for the high differentiation strategy of the digital transformation of retail business of bank of China shenzhen branch.