Study On Personal Finance Business Competition Strategies Of Hangzhou Branch Of N Bank Under The Background Of Internet Finance

At a time when the Internet is highly popular,the Internet-based financial innovation business has developed rapidly in China,forming a new form,namely Internet finance.Up to now,traditional financial institutions,especially the banking industry,have been greatly affected by Internet finance.The development of Internet finance has also forced commercial banks to make changes to seek innovation,upgrading and transformation.In the long-term development process of China's commercial banks,personal wealth management business has always existed as the mainstream business of RMB wealth management.However,with the continuous development of Internet finance,in less than ten years,Internet finance has been from the original random type.The growth has become increasingly standardized nowadays,and in the history of development,the whole process of exchanging from introversion to introversion has emerged.Nowadays,various types of Internet finance projects are emerging one after another,and their high interest rates,strong liquidity and convenience have greatly affected the development of existing personal banking business of commercial banks.In this form,it is particularly important for commercial banks to compete with the growing Internet financial institutions for the market,and how the bank's personal wealth management business should innovate and implementeffective competition strategies.This paper firstly sorted out the literature related to Internet finance and the development of commercial Banks' personal finance services and the research of domestic and foreign scholars,laying a theoretical foundation for the analysis of commercial Banks' personal finance services under the influence of Internet finance.Taking hangzhou branch of N bank as an example,this paper takes its personal finance business as the main research object,and focuses on the analysis of the current situation of personal finance business of N bank hangzhou branch.Through the internal and external environment analysis,the development mode and current situation of personal finance business of N bank hangzhou branch are grasped.Secondly,through the analysis of relevant data and survey results,the main problems existing in the personal finance services and product operations of hangzhou branch of N bank were explored,and the customer management,product structure,risk management and other aspects were discussed.Finally,combined with the current development status and future development trend of the financial services of N bank hangzhou branch,the competitive strategy of the personal financial services of N bank hangzhou branch is proposed,aiming to improve the market share of the financial services and products of N bank hangzhou branch and achieve the strategic goal of sustainable development of its financial services.N bank hangzhou branch should combine with its own reality,implement differentiated competition strategy,segment financial product market,pay attention to business innovation,optimize financial product structure and improve pricing mechanism,expand sales channels,improve business risk management mechanism,strengthen cooperation strategy,and create conditions for the development of personal financial services.Based on the research on the competitive strategies of the financial services of hangzhou branch of N bank,this paper proposes targeted solutions and provides theoretical basis and guidance for the development of financial services of other Banks.