Research On The Competitive Strategy Of E-Bank's Personal Savings Business

As China's economy enters a new normal,commercial banks have focused on developing a profit model for public business and relying on public customers to earn deposits and loans.It has been difficult to adapt to the fierce market competition environment.Recognizing the importance of developing retail business,the bank gradually shifted its business focus from public business to retail business.The retail business has become more and more important in the bank deposit structure and has become an important profit growth point.The personal savings business is the most important component of the retail business.Its strategic position is prominent.Various banks have increased their investment in personal savings business to expand their market share.The personal savings business market is highly competitive.At the same time,with the development of Internet technology,online diversified financial products are also diverting residents' funds to seize personal business resources.The development of personal savings business by banks not only faces competition from the same industry,but also prevents other alternatives from being divided into markets,and the competitive environment is more complicated.Deposit is the cornerstone of bank operations.As one of the most important businesses of E-bank,the personal savings business,which competitive strategy to choose,and what safeguards to implement in order to enhance competitiveness and adapt to the impact of changes in internal and external environment,better the development of this business is the focus of this paper.This paper takes E-bank personal savings business as the research object,uses pest and five-force model analysis method to analyze the macro environment of E-bank's personal savings business,and draws the opportunities and threats;The advantages and disadvantages of the bank itself;and then using the SWOT analysis method to comprehensively analyze and come up with strategic options.The analysis shows that E-bank's ability in cost control,customer management and product design is poor.Combining the applicable conditions of the three competing strategies,E-bank is not suitable for cost strategy and centralized strategy,the differentiation strategy is selected as the competitive strategy of E-Bank's personal savings business.At the same time,in order to ensure the smooth implementation of the strategy,the safeguard measures forstrategic implementation are formulated from the four aspects of resources,manpower,system and marketing.This paper proposes that E-bank should choose a differentiated competition strategy in the personal savings business competition.The sustainable development of this business provides theoretical basis and implementation suggestions,and also serves as a reference for other commercial banks to develop personal savings business.