Case Study On Digital Transformation Of China Merchants Bank’s Wealth Management Business

With the continuous development of China’s social and economic development,the overall scale of residents’ wealth is growing and the demand for investment is increasingly expanding,leaving huge room for the future development of China’s wealth management market.With the advent of the digital era,digital technologies such as information technology,artificial intelligence and big data have been widely used in various industries.As a traditional financial institution,commercial banks are facing competition from a large number of Internet-based financial technology companies,and in addition,the development of digital technology has brought a huge impact on the way commercial banks operate,and customers’ demand for wealth management services tends to be diversified and personalised.Against such a background,it is an inevitable choice for commercial banks to realise the digital transformation of their wealth management business,so as to provide more comprehensive,intelligent and personalised financial services to society and promote high-quality economic development through digital transformation.In recent years,China Merchants Bank has been actively promoting the digital transformation of its wealth management business,and has achieved good results in the digital transformation of its wealth management business by building the model of "artificial intelligence + finance",so that its wealth management business has been transformed from the traditional model to an intelligent and digital one.Therefore,this paper takes China Merchants Bank as an example and adopts the literature research method and case study method to study the digital transformation of its wealth management business.This paper firstly introduces China Merchants Bank and its wealth management business,the history of the digital transformation of its wealth management business,and the specific measures taken by China Merchants Bank to digitally transform its wealth management business;secondly,it analyses the digital transformation of China Merchants Bank’s wealth management business from three aspects: customer perception and demand,fierce competition in the industry,and digital transformation driving the development of wealth management.After that,it further analyzes the effect of the digital transformation of China Merchants Bank’s wealth management business from five aspects: customer acquisition ability,digital operation,wealth management business scale,revenue structure and efficiency level,and points out the shortcomings;finally,through the above analysis,it puts forward relevant suggestions and summarizes the relevant experience for other commercial banks to learn from.Finally,through the above analysis,we put forward relevant suggestions and summarise the inspirational experiences for other commercial banks to learn from.This paper hopes to draw universal conclusions from the study of the digital transformation of China Merchants Bank’s wealth management business,so as to provide inspiration and reference for other commercial banks in the process of promoting the digital transformation of their wealth management business,and to make the study of "digital + wealth management" more meaningful in practice.