Research On Credit Card Business Innovation Under The Impact Of Internet Finance

Credit card,as a widely recognized and accepted financial instrument,has become the key business of several Banks and the main battlefield of retail strategy transformation of Banks.With the rapid development of Internet finance,all kinds of new payment and credit methods keep emerging,quietly changing people's life.In this context,Internet finance is bound to bring a certain impact and impact on the traditional credit card business,so it is of practical significance to study this issue.Starting from the two basic theories of Internet finance and innovation,this paper provides theoretical support for the subsequent analysis with the help of financial disintermediation theory,long tail theory,information asymmetry theory and innovation diffusion theory.In the analysis of the impact of Internet finance on credit card business,from the perspective of social network,the author explains that Internet finance,while developing long-tail customers,to a certain extent grabs credit card customers through product convergence and credit card acquisition channels.By December 2018,China had issued 686 million credit CARDS,with a total credit card credit of 15.40 trillion yuan.The growth rate of both the number of credit CARDS issued and the total amount of credit CARDS issued has decreased since 2018.In terms of risk management,the complexity and concealment of online transactions provide a hotbed for customer information leakage and fraudulent transactions,making it more difficult for Banks to supervise the flow of funds by credit card.At the same time,Internet financial risks were transmitted to credit CARDS.As a result,the defect rate of most Banks in the first half of 2019 increased compared with that of 2018.In the environmental analysis of credit card innovation,the bank analyzes the external environmental conditions through PEST theory at the macro level.In the political and legal level,the state implements the economic strategy of enabling technology and encourages fair competition between Internet finance and banking.In terms of economic environment,with the continuous trade friction between China and the United States,consumption plays a more important role in driving economic growth.In terms of social environment,through the analysis of card issuing data,the credit card consumption group is mainly the post-80 s,accounting for 42%,but the post-90 s growth trend cannot be ignored and has reached 28%.The rapid development of network technology provides technical support for credit card innovation.In order to cope with the fierce competition brought by Internet finance,postal savings bank actively sets out from its own business reality to find out the problem and find the rightsolution.Enrich the credit card product system and credit card rights and interests through benchmarking;Through STP market segmentation,the key development direction is targeted at the third-and fourth-tier young and middle-aged customers,and carry out targeted marketing strategies;Using big data analysis to improve the customer management of credit card before and after the whole life cycle;With the help of the intelligent customer relationship management system,to provide customers with more refined services.Combined with the postal savings bank credit card innovation practice,credit card business innovation to provide some theoretical and practical support.