The Transformation Strategies Of State-owned Commercial Banks Under Development Of Financial Technology

The essence of fintech is innovation,and network is an important support for the development of banking industry.Under the background of fintech development,"seeking advantages and avoiding disadvantages" and "promoting strengths and avoiding weaknesses" are the key to the transformation and upgrading of the banking industry and its branches.Based on the theory of financial development network,service centre and agglomeration theory and location layout and the influence factors theory,this paper analyses the connotation and characteristics of fintech,using economic statistics,wind and industry development multi-source data,quantitatively analyses the development process and situation of state-owned commercial Banks and XX branch of agricultural bank of China.Based on the internal panel data of the branch,the SBM-DEA model is used to comprehensively evaluate the performance of the branch of ABC,and the panel econometric model is used to empirically test the influencing factors,so as to determine the direction of branch network transformation.Through to study the transformation development needs and problems of XX branch of ABC Under the background of fintech development,based on the SWOT analysis and from the business,marketing,risk control,layout transformation four dimensions to detailly discuss the transformation of the strategy.The research results show that the fintech is a new era of financial development characterized by innovation,inclusiveness,multidimensionality and risk,with the deep integration of modern science technology and financial elements within a reasonable financial development boundary and the realization of financial development mode innovation,financial development boundary expansion and financial function enhancement.The impacts of fintech on XX branch of ABC lie in:(1)accelerated product innovation;(2)promoted business transformation;(3)widened development boundaries.Meanwhile,XX branch bank faces some problem,such as the transformation shaking between traditional finance and modern;the dislocation imbalances between demand of fintech and finance innovation.No matter the whole state-owned commercial bank or XX branch of ABC show a good development trend.During 2006 to 2018,the business efficiency of branches in ABC shows the trend of rapid rise in volatility.Out of the cabinet business rate,business environment,daily personal business volume and product abundance has positive influence on the business efficiency of branches in ABC,while business risk index has a negative impact.Under the background of fintech development,the transformation development of XXbranch of ABC has four advantages,three disadvantages,four opportunities and three challenges.Based on this,four strategic approaches are proposed for business transformation,marketing transformation,risk control transformation and branch layout transformation.(1)Business strategy transformation needs to accelerate the application of fintech in business,realize the transformation and upgrading from traditional business to modern business,and adhere to the development direction of intelligence,personalization,diversification,lean,extension and specialization.Specific paths including: establishing and improving the off-counter business system,the diversified development strategy system,the business assessment system and the urban-rural integrated enterprise financial supply system;developing customer service feature portrait system,flexible specialization system,information integration processing system and demand forecasting system;constructing capital business derived requirement tree and business update iteration mechanism;accelerating the development and implementation of policies to benefit rural areas,fund supplementation,financial poverty alleviation,and rural revitalization.(2)Marketing strategy transformation needs a product position as urban-rural integration,modern transformation,characteristic multiple,and establishes the three-dimensional symbiosis structure of products including diversity in urban and rural,traditional and modern,characteristic multiple.From the above three product system to develop financial products.And the marketing channel transformationneeds gradually push to form the modern financial channel marketing situation of online channels as the leading factor and offline channels to effectively supplement.(3)The risk control strategy transformation needs to realize the transformation development to the "big data + artificial intelligence" risk control mode strategy,and realize the transformation of the overall risk control strategy of pre-risk identification,in-process risk assessment and post-risk management control.(4)The spatial layout strategy transformation needs to realize the reduction of physical network scale,the improvement of spatial agglomeration effect,the enhancement of spatial service function in plane space and the process of realizing the transformation from two-dimensional geographic space to three-dimensional geographic space + information space gradually.