Research On The Development Strategy Of Small And Medium Commercial Banks Under The Internet +

With the emergence of a new form of economic development pattern called as Internet+,there have been tremendous changes in various industries,and the banking industry has also been deeply affected.In the context of the Internet,banks have developed new communication technologies and network platforms.However,the emergence of a large number of Internet finance companies has brought huge impacts on small and medium commercial banks.As a member of small and medium commercial banks,rural commercial banks are facing more severe challenges because of their small scale,single product category and geographical constraints.This paper takes Wuxi Rural Commercial Bank as the research object,focuses on its development strategy,and provides ideas for innovation and development of small and medium commercial banks in China.This paper uses a variety of tools to analyze the internal and external environment faced by Wuxi Rural Commercial Bank.Among them,the PEST tool was used to analyze the macro environment faced by Wuxi Rural Commercial Bank.The industry environment and competitive environment are also analyzed.It also analyzes the impact of Internet+on small and medium banks such as Wuxi Rural Commercial Bank.After that,this paper expounds the operating capacity and resource reserve of Wuxi Rural Commercial Bank,and forms the SWOT analysis table of Wuxi Rural Commercial Bank.On this basis,Wuxi Rural Commercial Bank has formulated a development strategy planning based on its overall development goals,and established corresponding development strategies at the company,business and functional levels.Subsequently,this paper describes in detail the implementation of Wuxi Rural Commercial Bank’s development strategy,including the reconstruction of value systems,optimization of traditional business processes,and innovation of financial products.Finally,the safeguards for implementing the strategy are proposed.Specifically,it is to adjust the organizational structure,comprehensively strengthen the management of risk control,and strengthen the introduction and training of various talents.Studying the development strategy of Wuxi Rural Commercial Bank under Internet finance,and clarifying the composition of its strategic system,it has important reference significance and reference effect for other small and medium commercial banks to establish development strategies.