Research On Retail Business Transformation Of China Merchants Bank Under The Background Of Fintech

With the development of Internet information technology and the updating of financial technology products,the development of China's financial industry has been greatly affected.With the application of new technologies such as mobile payment,,big data and artificial intelligence,the traditional financial industry has encountered risks and challenges,as well as innovation and opportunities.Traditional Commercial Bank,as the main pillar industry of traditional finance,has suffered great pressure from financial technology,especially in its retail finance field.In order to survive and develop in the competition,the retail business of commercial banks must be transformed.Therefore,it is very necessary to analyze the countermeasures of retail business transformation under the background of financial science and technology.This article first elaborated the topic background and the significance,has carried on the combing and the summary to the financial science and technology as well as the bank retail service historical document,in the theoretical foundation has carried on to the China Merchants Bank retail service transformation analysis.This paper reviews the development of retail business of China Merchants Bank,this paper probes into the reasons of the transformation from three aspects of the change of market pattern,the increase of industry competition and the maturity of internal conditions,and introduces the main measures taken by China Merchants Bank in the process of retail business transformation,starting with the four systems of retail bank operation and management: product,operation,marketing and wind control.By 2019,China Merchants Bank has made a series of achievements in the transformation of its retail business under the background of financial science and technology At the same time through this transformation for China Merchants Bank profitability,liquidity level and asset quality and other aspects of the benefits.In the process of transformation,China Merchants Bank innovated and creatively introduced the concept and method of financial technology,which has achieved the stage results and brought significant benefits.This paper summarizes the case enlightenment of retail business transformation of China Merchants Bank under the background of financial science and technology,obtains the successful experience of retail business of China Merchants Bank in the transformation process,combs the premise,foundation,key and core of retail business transformation of ChinaMerchants Bank,and puts forward several problems that China Merchants Bank needs to be vigilant in the transformation process of retail business For example,strengthen the risk management and control of information technology and strengthen the fine management of business.On this basis,this paper provides some suggestions on how other commercial banks to deepen the transformation of retail business in the context of Fintech.