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

Since 2016,the development and attention of fintech in China have been increasing,and become a hot topic in the financial industry.With the rapid development of financial technology,the development of commercial banks in China has infinite possibilities,but opportunities and challenges coexist.The rapid rise of some financial technology companies has threatened the status of commercial banks.Commercial banks have experienced a decrease in market share,profitability and assets,and a trend of substantial decline in quality.In addition,commercial banks themselves also have problems such as unclear development strategies,unclear self-positioning,and serious homogeneity of products in the same industry.Therefore,commercial banks urgently need to carry out digital transformation of retail business.This thesis re-evaluates the progress of commercial banks’ transformation to retail business on the basis of systematically analyzing the transformation of commercial banks’ retail business and its existing problems.Taking China Merchants Bank as an example,this thesis analyzes the digital transformation process of retail business of commercial banks under the background of financial technology.This thesis firstly makes a comprehensive review of the development of China Merchants Bank’s retail business,and then analyze the necessity,goals and measures of the digital transformation of China Merchants Bank’s retail business.Then,it gives an overview of China Merchants Bank’s retail business,and then analyzes the necessity,goals and measures of the digital transformation of China Merchants Bank’s retail business.Finally,the entropy method is used to comprehensively evaluate the effect achieved by China Merchants Bank in the entire transformation process,and it is concluded that China Merchants Bank has significantly improved its customer base,product scale,risk control ability and business performance through the digital transformation of its retail business.Among them,the strategic transformation goal orientation is clear,the customer experience is always the center,and the emphasis on the driving force of financial technology is an important experience for the successful transformation of China Merchants Bank.China Merchants Bank seized the opportunity of the financial Internet early and made important achievements in the digital transformation of retail business.At the end of the thesis,the enlightenment and suggestions from the case analysis of the digital transformation of China Merchants Bank’s retail business are put forward from the four perspectives of strategy formulation,business development,product innovation and risk control,which have certain reference significance for other commercial banks to formulate transformation strategies.