Research On Retail Business Development Strategy Of Huishang Bank In The Context Of Financial Technology

With the booming development of the Internet and information technology,the integration between them and the financial sector is also deepening.At the same time,people’s consumption habits are changing and their financial awareness is increasing,making it difficult for traditional commercial banks’ retail business to meet the diversified needs of customers.The intrusion of fintech companies into the retail business market has greatly increased banks’ business pressure and intensified competition within the industry.While fintech brings challenges to banks’ retail business,it also provides opportunities for development,prompting commercial banks to accelerate digital transformation and move closer to the goal of intelligent operation.Under the background of contraction of spreads in public business caused by interest rate marketization,how to use fintech to promote product innovation,transform business model and enhance core competitiveness is the core issue of retail business development of Huishang Bank.This paper takes financial technology as the background and Hui Shang Bank’s retail business development strategy as the research object.On the basis of summarizing relevant domestic and foreign literature and applying long tail theory,customer relationship management theory and financial innovation theory,this paper elaborates the empowerment of financial technology to commercial banks from the theoretical and practical perspectives,followed by studying the current business situation of Hui Shang Bank from retail deposit business,retail loan business and retail intermediate business.Combining with the questionnaire survey,the paper analyzes the strengths,weaknesses,opportunities and threats of Huishang Bank’s retail business through SWOT method,and finds out the problems of Huishang Bank’s retail business in terms of product homogenization,insufficient data analysis capability,insufficient diversification of marketing channels,poor talent team building,etc.Based on this,the paper discusses the problems of optimizing product innovation process,expanding business fields,creating brand effect,improving mobile service capability,The paper proposes development strategy optimization suggestions in terms of strengthening business cooperation,improving the ecological system,upgrading hardware equipment,improving the intelligence of outlets,expanding the recruitment of composite talents,cultivating financial technology talents,improving the overall data architecture,and enhancing the operational efficiency of data,so as to further provide decision support for the development of retail business of Huishang Bank in the context of financial technology.