Research On Optimization Of Digital Transformation Of Custody Business For NT Bank

Since the introduction of the custodian in the asset management industry in 1868,the property of the custody business that is light on capital,assets and costs,as well as the considerable income of the custody fee,has made various financial institutions compete to develop and seize the custody market.The main responsibility of the custodian bank is to provide customers with professional services such as custody,settlement,clearing,valuation and reporting of the asset custody products.With the continuous accumulation of social surplus wealth and the increasingly serious problem of population aging,the demand for specialized asset management in the asset management industry is increasingly strong.As the firewall of the asset management industry,the custodian bank has also become an indispensable and important role in the financial industry.The asset management industry and custodian in China started relatively late.After experiencing a budding start and explosive growth,with the promulgation of the new asset management regulations in 2018 and the official implementation in 2022,they are currently making steady progress with a vigorous momentum.NT Bank,as a regional urban commercial bank with great innovation and practical spirit,entered the custody bank team in 2011.It has been developing for more than 10 years since the beginning of the exhibition,and has won a good reputation in the industry with the "E-Custody" brand and professional and efficient services.However,at present,there are 58 institutions with asset custody qualification in China.Like most businesses of financial institutions,the custody business also has the problem of serious homogenization of services.In order to seize market share,various custody banks have constantly broken through the bottom line of custody rates.The price war between NT Bank’s custody business and state-owned banks is no different than hitting the stone with the egg.Under this current situation,NT Bank can only achieve curve overtaking on the track of chasing the market share of state-owned banks by implementing its concept of seeking differentiated competitive advantage in the market segment,taking customers as the center,constantly polishing the professional service quality,improving the efficiency of business processing,meeting the changing personalized needs of customers,and positioning more targeted marketing highlights.NT Bank has always been committed to the development route of financial technology operation,and its technological strength has been precipitated for many years.The Trusteeship Department launched a very influential "E-Custody" brand at the beginning of its establishment.Therefore,with the rapid development of digital economy and digital technology,it is an inevitable choice for NT Bank’s custody business to effectively maintain market competitiveness through digital transformation to improve efficiency,improve service quality and reduce costs.The digital transformation of the NT Bank Custody Department began to be conceived at the same time as the system group platform was built in 2013,and gradually took shape after 2016,and became more and more important after 2019.Since the transformation,the major platforms of the system cluster have been completed,and the financial infrastructure of the inter-bank market,exchange market and other standardized markets have realized the direct connection interface.However,with the continuous evolution of the asset management industry and the rapid update of digital technology,the existing digital transformation of NT bank custody business also has problems such as poor development agility,complex interaction between internal systems,and the absence of digital management mechanism,which has caused a certain negative impact on the transformation effect.This paper discusses the current competitive situation of domestic custody banks,the development status of NT bank custody business and its digital transformation,and analyzes the main existing problems in the digital transformation of NT bank custody business.Then,based on specific issues,targeted transformation optimization plans and safeguard measures are proposed.