A Study On S Bank’s Retail Business Development Strategy In The Digital Transformation Background

The retail business of commercial banks provides financial-related services for small and micro enterprises,families and individuals in economic development,and is an important link for the development of social and economic activities.As an important business business for commercial banks,retail business effectively guide customers to consume reasonable consumption methods and promote the healthy development of customer consumption.With the rise of a new round of scientific and technological revolution,big data is used as a production factor,and new development models of digital transformation of information technology such as AI(artificial intelligence),blockchain,and cloud computing have become an important thrust for economic development.The continuous deepening of digital transformation has brought new development opportunities to the retail business of commercial banks.How to use digital transformation to promote the development of the retail business of commercial banks and become the key to whether commercial banks can occupy a competitive advantage in the retail business market.This article uses the commercial bank S bank as the research case to study the strategy of the development of S bank’s retail business in the context of digital transformation.This article quotes the theory of competitive advantage,the theory of financial innovation,and the theory of long tails.It uses PEST and five forces competition models to analyze the external environment and the industry environment.By analyzing the internal resources and internal capabilities of S Bank,the internal core competitiveness of the S bank is summarized.Use the SWOT analysis tool to obtain the opportunity and threat,advantages and disadvantages of the development of bank retail business,and then formulate strategies for the development of the retail business of S Bank retail business in the context of digital transformation.The company level strategy formulated in this paper for the retail business development of S bank is specialization strategy,and the business level competition strategy is differentiation strategy.The specific contents of specialization strategy include market penetration,product development and market development;The differentiation strategy implements differentiation from four aspects:brand,technology,product and service.The guarantee measures of the two-level strategy include organizational planning,talent guarantee,technological innovation,product innovation,market development,customer management and risk control.In the highly competitive retail market of commercial banks,this paper can provide strategic ideas for the stable development of S bank with the opportunity of digital transformation,so as to improve the market share of S Bank’s retail business and form a long-term competitive advantage.At the same time,this paper hopes to provide reference value for the development of retail business of other domestic commercial banks.