Research On Digital Transformation Of Ping An Bank Under The Background Of Fintech Development

In recent years,financial technology has developed rapidly,and its attention has been rising in China,and it has become a hot topic in the financial industry.In this context,the profit model of commercial banks based on interest spread and commission income cannot support their in-depth development,and at the same time,their profit space is constantly swallowed by Internet financial platforms,commercial banks are facing more competitive pressure,the loss of small customers,and the lack of internal growth,prompting China’s commercial banks to constantly seek innovation and change,to tap more "long-tail" customers,and break through the current bottleneck.Digital transformation is an important part of the transformation of commercial banks.Therefore,commercial banks urgently need to carry out digital transformation.Relying on Ping An Group,Ping An Bank leverages the advantages of Ping An Group’s five-ecosystem cross-selling business to support Ping An Bank’s digital transformation.This paper mainly adopts the case study method,taking Ping An Bank as the research object,and deeply explores its digital transformation in the context of financial technology.Based on Ping An Bank’s unique transformation path,Ping An Group rationally uses its ecosystem business system to broaden its customer channels,increase customer sources,improve customer stickiness,give full play to the role of Ping An Bank’s business data middle office,analyze customer sources,and launch financial services in a targeted manner.Based on the direct effect analysis of Ping An Bank’s transformation measures and basic financial data analysis,the entropy weight Topsis method is used to compare the performance level of the industry and comprehensively test its digital transformation effect.Through an in-depth study of Ping An Bank’s digital transformation cases,this paper finds that through the high matching of organizational structure and various platform systems,Ping An Bank can improve payment efficiency,acquire more "long-tail" customers,reduce operating costs,improve the level of in-bank automation,and reduce the non-performing loan ratio.In the process of digital transformation,banks should carry out characteristic businesses according to their own development,(1)banks with group support should take advantage of the group’s "ecosystem" to open up the "ecosystem" business within the group for cross-selling,clarify the direction and path of transformation,actively promote their own characteristic services,accurately benchmark customer groups,and carry out digital transformation in an orderly manner;(2)For commercial banks that do not have the support of the group,they can cooperate and mutual assistance model,integrate resources,jointly launch innovative and forward-looking digital products and services,and at the same time carry out deep integration with financial technology companies to build a complete data analysis system and jointly promote their development.