Research Of Domestic Internet Banking Business Procedure Re-engineering

Since the birth of Security First Network in 1995, the online banking has been rapidly expanding all over the world, with its business service growing up from simple to comprehensive. Although it is a relative short time from the very beginning of domestic online banking business, there have been a lot of achievements. With the evolution of information and network technologies, and the entire opening of Chinese finance in 2006, the competition among domestic banks will get fiercer. As a trend, online banking will therefore no doubt become the focus of attention in this competition.Writing the article, I mainly applied theories of Economics, Management and Statistics to practice of online banking business, with case comparison and analysis. Firstly, I described the current situation of domestic online banking business, explained the necessity and importance for online banking business process re-engineering, and then discussed why and what the re-engineering of online banking business process was with basic economics theories. By comparing the differences of online banking business re-engineering between Chinese and foreign online banking service and analyzing the case of CCB, I further concluded that the re-engineering should follow the profit maximized principle and customer focused culture, that the re-engineering could be implemented by improving customer experience management, seeking business breakthroughs and integrating resources and channels, and finally that IT would play a crucial role in the re-engineering.