Research On The Development Countermeasures Of Mobile Banking Business In Agricultural Bank Of China Ltd Jiangsu Branch

Thanks to the increasingly widespread of mobile communication technology represented by3G networks, as of2011YE, over221million mobile phone users are making payment via their cellular phone apps, contributing to an annual profit of RMB5.24billion in mobile payment market. In the coming three years, this market may maintain a sustained40%year-on-year increase. Mobile Banking, as a marketing channel exposed to retail users with the largest extent, is able to provide affluent and satisfactory financial services at any time and in any place, and to enhance the business development of various commercial banks. In this regard, more and more banks have been attracted by the prospects of mobile banking, adding fuel to the intense market competition. Therefore, Agricultural Bank of China Jiangsu Branch (hereinafter "ABCJS") must have a clear strategy in the development of mobile banking business before it is able to put itself in an invincible position in the future competition.In this paper, the author has referred to a series of theories in various disciplines such as Marketing, Principles of Management, Finance, and Financial Innovation, etc. To fully analyze the major problems concerning the development of Mobile Banking business in ABCJS, the author has made a deep research into the macro-environment as well as the internal and external environment ABCJS has been facing with in developing its mobile banking business. By using multi-dimensional analysis methods, such as competitive analysis, environment analysis, SWOT analysis, and case study, the author draws the following conclusion:1. It is of great significance for ABCJS to facilitate its marketing and development of mobile banking business. Faced with a sound political, economic, social and, technological environment, the development of mobile banking business will be able to help further enhancing the bank’s competition advantage, improving the bank’s intermediary business revenue, and also adding to its capability in offering services for various clients.2. We can learn from the positive experiences in this industry both home and aboard in terms of the marketing and development mode. The patterns of product operation and cooperation in foreign financial industries aboard are key enlightenments for ABCJS in its R&D and marketing of mobile payment product. As a lot of Chinese financial institutions have already geared up for the development of mobile banking business, ABCJS will also ambitiously keep pace with time.3. Opportunities and challenges parallel for ABCJS in its development and marketing of mobile banking business.4. Four major pillars for ABCJS to develop its mobile banking business:(1) Strength&Opportunity Strategy, i.e. grasping opportunities and giving full play to our advantages;(2) Weakness&Opportunity Strategy, i.e. grasping opportunities and overcoming weakness;(3) Strength&Threat Strategy, i.e. giving full play to our advantages and avoiding threats;(4) Weakness&Threat Strategy, i.e. minimizing weakness and avoiding threats.It is hoped that the strategies and suggestions put forward in this paper will promote, to some extent, the development of ABCJS’mobile banking services, and serve as a reference for various Chinese commercial banks, shareholding commercial banks in particular, to develop their mobile banking business.