Research On Business Transformation Of NJ Branch Of Postal Savings Bank Of China Under The Background Of Internet Finance

The progress of science and information technology is promoting the development of financial science and technology.Advancing technologies such as mega data and cloud computing have achieved the innovation of financial business and created the background of Internet finance.As an open sharing platform and financial industry,the internet has brought great influence on China's financial environment and traditional banking industry,it has challenged the development concept and model of traditional commercial banks.At the same time,traditional commercial banks are also actively exploring the integration mode with Internet finance,building high-quality financial products and services from the perspective of products,services,models,needs of customers,etc.They are finding new development direction and forming new development mode.Based on the above situation,as a large state-owned commercial bank,postal savings bank is also facing the business transformation under the background of Internet finance.Business transformation is not only confined to theadjustment of business,but also innovating business activity to achieve long-term sustainable development by adjusting business scope,process structure and business strategy.This paper takes NJ branch of postal savings bank as an example to explore its business transformation strategy in the context of Internet finance.First of all,analyzing the long tail effect of Internet finance,this paper studies the impact of Internet Finance on the business of China Post Savings Bank,Including asset business,liability business and intermediary business.And then,according to the fact of NJ branch business operation,it analyzes the problems in the process of transformation,Including the lack of efficiency of business process,slow growth of asset business scale,single debt structure,the lack of innovation in the construction of traditional intermediary business and online financial platform.Based on the above analysis,aiming at the problems that need to be solved in the transformation,and based on the theory of process reengineering and the related theory of asset liability management,the paper puts forward the business transformation strategy of NJ branch in the context of Internet finance,which provides a reference for the future business transformation of NJ branch of postal savings bank.