Research On The Development Strategy Of L Rural Commercial Bank’s Credit Business Under The Background Of Digital Economy

In the context of today’s digital economy,China’s commercial banks have gradually begun to think and explore digital transformation.The key to coping with market challenges is to achieve their own digitalization and intelligence through 5G,AI,cloud computing,blockchain,big data and other technologies.Due to the limitation of its capital scale and management mechanism,L Rural Commercial Bank has a relatively backward degree of digitalization at present,especially the credit business,which is the main source of profit,has a big gap with large banks in terms of customer acquisition,data analysis,risk prevention and control,etc.If L Rural Commercial Bank wants to continue to develop steadily in the context of the digital economy,it must make timely changes,combining the current economic background and its own situation,Reasonably formulate a set of credit business development strategies suitable for yourself.Through the analysis and research on the company profile,credit business development profile and current credit business development strategy and operation of L Rural Commercial Bank,this paper points out the problems existing in the current credit business development strategy of the bank,such as: there is a large gap between the growth of retail loans and other banks,and risk loans are on the rise.The main reasons are: weak digital technology foundation The existing digital application is not enough to support the current business development needs,the digital product R&D mechanism is not mature,and the credit business digital technology talent reserve is insufficient.Then,PEST analysis method is used to study the macro environment of L Rural Commercial Bank,and Porter’s five-force model is used to analyze the industrial environment of L Rural Commercial Bank.It is clear that the existing competition is fierce,there are new entrants,alternatives are emerging,and the bargaining power of suppliers and buyers is greatly enhanced.Finally,SWOT analysis method is used to conduct in-depth research on the development strategy of L Rural Commercial Bank’s credit business,It reveals the development opportunities and survival threats that L Rural Commercial Bank is currently facing,and then summarizes its own development advantages and disadvantages that must be overcome.Under the background of digital economy,L Rural Commercial Bank’s credit business should make full use of its own advantages,seize external development opportunities,and choose an active credit business development strategy.Determine the overall strategy and strategic focus of L Rural Commercial Bank’s credit business development,define five functional strategies,including digital talent training strategy,product R&D strategy,customer classification and expansion marketing strategy,digital service strategy,and capital operation strategy,and formulate a functional strategic plan suitable for L Rural Commercial Bank’s credit business development status.Finally,specific measures for the implementation of the credit business development strategy are formulated from the aspects of establishing the digital reform decision-making mechanism,building the digital talent management mechanism,building the digital platform,increasing the investment in information technology construction,and increasing the capital guarantee for the application of digital technology,so as to ensure the implementation of the credit business development strategy of L Rural Commercial Bank.