Research On The Development Strategy Of Retail Business Of Small And Medium-sized Banks In China Under The Background Of Fintech

As China's economic growth slows down,Sino-US trade frictions,economic restructuring and other tackling battles,the economic growth momentum has shifted from exports and investment to consumption,which requires small and medium-sized banks in China to fund The focus of business development is under adverse conditions such as insufficient resources,small asset scale,insufficient talents,and limited cross-regional development.The retail business has become the main battlefield for small and medium-sized banks in China with its advantages of saving capital,stability,good growth,risk dispersion and high overall profitability.The rapid development of science and technology such as artificial intelligence,cloud computing,big data,blockchain,and high integration of technology and finance,financial technology has achieved more revolutionary achievements,and has become one of the most important factor affecting the development of retail business of small and medium-sized banks in China.With the rapid development and full application of financial technology,Internet platform companies and financial technology companies has penetrated into the banking retail business across the border,coupled with the squeeze effect of large state-owned banks.The living environment of small and medium-sized banks' retail business is severe.In view of this,this paper selects the retail business development strategy of small and medium-sized banks in China under the background of fintech as the research topic,analyzes the existing problems of retail business of small and medium-sized banks in China,and discusses how to combine fintech with retail business to propose practical development strategy for retail business in small and medium-sized banks.Making good use of financial technology to promote the development of retail business of small and medium-sized banks in China is a complicated and overall systemic project.This paper uses the literature research method,case analysis method,etc.to analyze the current status of the development of retail business of small and medium-sized banks in China.This paper summarizes the five aspects of the retail business of small and medium-sized banks in China s in the context of financial technology,such as mobile banking,branch transformation,direct banking,credit card business,Internet consumer loans,and made a cause analysis.From the perspective of opportunities and challenges,this paper analyzes the impact of finTech on the retail business of small and medium-sized banks in China.Take three domestic and foreign commercial banks as examples to conduct a detailed analysis,and summarize the significance of reference for small and medium-sized banks in China,that is,to establish a flexible organizational structure,increase investment in fintech,use fintech analysis to identify customers,and improve customer service levels.Finally,formulate retail business of small and medium-sized banks in China to adhere to customerism and long-termism,make full use of the leading and boosting role of financial technology to develop retail business development strategies,from mobile banking,branch transformation,direct banking,credit card business,and Internet consumer loans Formulate strategic implementation plans,and formulate strategic implementation guarantees from the four directions of developing financial technology,attracting talents,safety and compliance,and jointly building an ecology.