Research On The Operating Strategy Of Internet Finance Business Of DY Bank

With the rapid development of Internet technology,the financial industry is also undergoing earth-shaking changes.In 1997,China merchants bank opened its own website,and traditional Banks started online banking.In 2003 and 2004,taobao.com and alipay were born one after another,and e-commerce came into being as a new business operation mode in China.In 2007,P2 P lending,an iconic business form of Internet finance,was born,and paipaidai,China’s first P2 P online lending platform,was established.On May 18,2011,the people’s bank of China officially issued the third-party payment license.In that year,27 enterprises received the photos of the third-party payment issued by the people’s bank of China,and the mutual integration of finance and the Internet began to develop in depth.The Internet finance industry believes that 2013 is the first year of the birth of Internet finance.Due to the high threshold of traditional financial institutions,many enterprises that want to advance into the financial sector have no way to do so.However,the emergence of Internet finance has attracted a large number of enterprises.Third-party payment and P2 P began to develop rapidly,and crowd funding gradually came into people’s vision.Technology companies also began to transform and buy into fintech in order to get a share in the financial sector.The establishment of Internet banking and Internet insurance company marked that the building of Internet finance has entered the stage of the top.In the short memorial period,funds,securities firms and trusts also began to invest in the Internet finance industry to provide customers with more convenient and efficient services.The development speed of Internet finance in our country has exceeded everyone’s expectation.The rapid development of Internet finance has activated the financial market and made a great contribution to inclusive finance,but at the same time,the brutal growth of Internet finance has also brought many problems.2015 was the year when the Internet entered an explosive growth,and it was also the most turbulent year for the industry.P2 P,the industry with the fastest growth,has been in crisis.Among them,the most famous one is "ezubao".When the police launched an investigation,the total transaction volume of its business reached 74 billion yuan.After this,the network lending problems occurred frequently,P2 P running away,naked loans and other problems did not emerge one wave after another,more hateful is that many illegal institutions will grasp the campus,campus loans in the community has caused widespread concern.In the face of the changing market environment,the regulatory authorities launched a heavy blow.In 2015,the regulatory authorities issued one document after another in the field of Internet finance,and 2015 was also regarded as the "policy year" in the industry.After the year of strong regulation in 2015,the intensity of regulation in the following two years has not been weakened.Various regulations and policies are frequently issued,which slows down the pace of the development of Internet finance and makes practitioners think more.Strong regulation is not about killing Internet finance,but rather about recognising a nascent industry that wants to keep it on the right track.The biggest attribute of Internet finance is still finance,and the prevention and control of risk is still the core competitiveness.Therefore,the development of banks in the Internet finance industry still has natural advantages.In our country,the non-financial institutions do not have the qualification of holding deposits,so the participants of various Internet finance who trace back to the capital level are still banks.The position of banks in the field of Internet finance cannot be shaken under the current financial system.So,in the face of such a complex environment,as an important participant of Internet finance,how should city commercial banks develop Internet financial business? As a DY bank just involved in the Internet financial business for less than three years,how to break through the dilemma and expand its business,how to make the Internet financial business a new profit growth point,and how to make the Internet financial business make a significant contribution to the transformation of DY bank to retail? This paper studies the development strategy of DY bank in the field of Internet Finance by using the methods of literature reference,comparative research and field research.Based on the research on the development status of Internet financial business at home and abroad,in-depth interview and investigation on the business development status,business strength and resources of DY bank,this paper uses PEST model to analyze the internal and external environment,advantages,disadvantages,opportunities and threats of DY bank with SWOT model,and finds that: in the early stage of business development,the management concept of DY bank management is too conservative The business development is very slow.Facing the bottleneck of traditional credit business development and the pressure of retail transformation,the Internet financial business has been recognized and valued by the management;the leaders who manage the Internet financial business have rich management experience and professional knowledge reserve,but the shortage of professional risk control personnel and professional scientific and technological personnel of DY bank greatly limits the industry The development of business;DY bank,relying on its good cooperative relationship with Jingdong finance,has been greatly helped in the development of business,but at the same time,it also relies too much on the products that Jingdong finance does not own;dy bank has carried out Internet financial business for more than two years,and still does not have the support of Internet core system and big data risk control system,but dy bank has realized the traditional The business system has been difficult to meet the needs of the business,and began to purchase the business system;the Internet financial business of DY bank is managed by some personnel assigned by the traditional retail department,and the business development process still relies on the support and help of e-banking department,information technology department and other departments,resulting in the slow development of new business of DY bank.Generally speaking,the advantages and disadvantages of DY bank are very obvious.Facing this situation,what kind of business development strategy should dy bank make.Based on the vision,goal and orientation of DY bank’s Internet finance development,this paper has formulated an Internet finance business development strategy in line with dy bank’s actual situation: on the premise of considering risk and compliance,build its own business platform,broaden customer source channels,change conservative development concept,rapidly expand business scale,establish its own Internet core system and big data wind The control system supports the business development;the Internet finance department is established to form a joint force,on which the five talent teams of product design,settlement,technology,risk control and operation and maintenance are focused;the new partners are developed relying on the good cooperation relationship with JD finance.Of course,the implementation of business development strategy is inseparable from the guarantee of human resources,material resources,organization and system.Internet finance has brought convenient financial services,at the same time,it has made a great contribution to Inclusive Finance,and negative news such as road running or capital fracture cannot cover up its positive significance.Doing Internet financial business well can become a new profit growth point for banks.In the environment of frequent risk and strict supervision,this paper has some guiding significance on how to reduce the risk of developing business,hoping to play a guiding role in the development of Internet financial business for city commercial banks represented by DY bank.