A Study Of Digital Business Transformation Strategy Of Retail Business Of Suzhou Branck Of A Commercial Bank

With the continuous development of Internet-related technologies,the financial industry makes use of these technological means to continuously promote its own innovation and change,and launch new financial products and business models.While the financial industry continues to absorb Internet technology and expand its business field through fintech.emerging Internet companies have also entered the financial market one after another and spread among the people at a very fast speed with their strong technical power and products that have fully reached customers.bringing unprecedented pressure and impact to the retail business of traditional banks.Based on the relevant theories of retail business,digital transformation of commercial banks and fintech,this paper selects A specific case of A commercial bank’s Suzhou branch for special study.Firstly,the research background and significance are expounded,the research methods and contents are given,and the innovation and shortcomings are pointed out.Then it introduces the general situation of the research object and briefly expounds the current situation of digital transformation of its retail business.Secondly,the paper analyzes four problems existing in the digital transformation of retail business,namely,digital marketing tools of retail business,user experience of retail products,construction of digital scenarios of retail business and management of retail products,as well as the causes of these problems.Then,by using PEST and SWOT analysis method,this paper puts forward four strategies for the research objects:optimizing the cooperation between the upper and lower levels and departments,in-depth development of fintech,construction of new retail business scenarios and promoting paperless internal processes of retail business.At the same time,it puts forward safeguard measures from four perspectives:organization.equipment,technology and personnel.Finally,the paper summarizes the research content and the prospect for the future.In this paper,the general situation and problems of digital transformation of retail business of A commercial bank Suzhou Branch are expounded,and corresponding strategies are proposed through PEST and SWOT analysis,which can help A commercial Bank Suzhou Branch to clearly understand the current situation of digital transformation of its retail business and point out the direction for the subsequent development of its retail business.It provides some experience for other commercial banks which have not yet developed the strategy of digital transformation of retail business.