The Research On E-bank Business Acceleration Of ICBC Wuxi Branch

ICBC Wuxi Branch, under the leadership of ICBC head office and ProvincialBranch, has the jurisdiction of two county-level sub-branches and ten city proper-levelsub-branches. By the end of June2012, ICBC Wuxi Branch have had the deposit morethan$100billion with the loan over$80billion in both foreign and domestic currency.ICBC Wuxi Branch boasts its leading position among secondary branches of ICBCboth in asset scale and profitability.However, with the increasingly intense competitionin domestic financial industry, ICBC Wuxi Branch is undergoing the great pressure bothfrom external competition and internal transformation. With the rapid development ofIT and E-commerce, greater emphasis has been placed on the business of E-bank, whichenjoys its advantages of low cost and broad prospect. It is the inexorable trend of itsdevelopment to computerize financial services.Faced up with the increasingly intense competition, the accerlation of E-banking issupposed to kick off. This article does some research work on E-bank business of ICBCWuxi Branch and discusses the significance of E-banking in an effort to explore newopportunities for the further development of enterprise.This paper first presents an overview of the business of E-banking, analyzes itscharacteristics and risks. And then studies the electronic bank’s development situationand does a typical case study both at home and abroad. Based on the detailed dataanalysis, investigation and research, a thorough analysis of the Wuxi bank electronicbank’s development present situation has been carried on, and performs a specificanalysis of the Wuxi bank electronic bank development characteristics and existingproblems.In the next business development evaluation of electronic bank, by using Potter’sFive Forces analysis model, and by using the SWOT analysis method, the authorexpresses her opinion on Differentiation Competition Strategy of ICBC and its radicaldevelopment strategy.Through the macroscopical environment analysis in Wuxi region, ICBC Wuxishould vigorously develop the electronic banking business; through competitiveness analysis, ICBC Wuxi should take the product differentiation strategy; based on theinternal and external environment analysis presented in this paper, ICBC Wuxielectronic bank business should take mainly offensive strategy.Finally, on the basis of the current situation of ICBC Wuxi, around the channel,product, marketing, innovation and management, put forward a series of specificdevelopment countermeasures, such as creating a new network service mode ofoperation, forming customer-oriented marketing and product system, throughinnovative forming difference competition advantage. At last it is pointed out that thestrengthening of internal management and promoting the core competitive power is theguarantee of the development of electronic bank.