Research On The Transformation Strategy Of ZS Bank’s Retail Business Under The Enabling Of Financial Technology

With the rapid development of digital economy,finance and technology are highly integrated.As a technology driven financial innovation,Fin Tech is an important engine for deepening financial supply side structural reform and strengthening the ability of financial services to the real economy.At the same time,mobile Internet,big data,cloud computing,blockchain,process automation,artificial intelligence and other emerging technologies,the traditional financial model has been challenged.Many Internet financial institutions,relying on their own advantages,have upgraded and innovated third-party payment,Internet financing,online service channels,and gradually occupied the market.Under the continuous influence of new markets,new models and new products,commercial banks,as an important part of China’s financial institutions,have entered a new stage of business transformation and upgrading in order to meet the diversified and convenient financial needs of customers.In recent years,commercial banks have begun to embrace financial technology,creating a two-way integration of business and technology,and creating a "1+1>2" synergy.As the best retail commercial bank in China,ZS Bank took the lead in enabling the development of retail business with financial technology,and defined the development vision of "becoming the best commercial bank in China with innovation driven,leading retail and distinctive characteristics".This research takes the retail business of ZS Bank as the research object.Through case analysis,literature analysis,PEST analysis and other tools,it conducts in-depth research on the transformation strategy of ZS Bank’s retail business under the financial technology enabling.At first,the author expounds the basic situation and operation of ZS Bank,analyzes the development status of ZS Bank’s retail business through interviews with experts,and advences problems;Secondly,it analyzed the transformation environment of ZS Bank from the macro,meso and micro levels,proposed the transformation strategy of ZS Bank’s retail business under the financial technology enabling in four dimensions of ZS Bank’s customer system,product system,operation system and risk control system,and analyzed and explained the above related issues;Finally,the author gives the digital transformation path and safeguard measures of ZS bank retail business.Through the research on the transformation of ZS Bank’s retail business under the financial technology enabling,this paper concludes that ZS Bank needs to deeply grasp the policy direction and keep abreast of the times at the macro level,deepen the integration of business and technology at the micro level,and promote the value driven lean R&D transformation to provide customers with all-round,personalized,multi-level financial services.On the basis of financial technology empowerment,a resultant effect will be formed to achieve quality improvement,cost reduction and efficiency increase.In view of the above content.First,theoretical significance.It expands the research scope,enriches the research content and provides theoretical supplement for the feasibility and necessity of Fin Tech for the upgrading and transformation of bank retail business,which has certain theoretical significance.Second,practical significance.Analyze and summarize the transformation strategy of ZS Bank’s retail business under the financial technology enabling.Driven by the combination of technology and finance,improve the business planning and strategy,and refine successful business cases.It can also provide countermeasures and suggestions for the retail business of other commercial banks,and drive the development of financial institutions and economic growth.