A Research On Transformation Of Commercial Bank Under The Background Of The Internet Finance

With the popularity and maturity of Internet related technologies, and the continuous improvement of Internet Finance business models, a new picture about financial state is displayed in front of everyone by the Internet Finance. Many former bold financial assumes, such as removal of financial intermediaries, may be realized. The financial problems which plagued people for a long time, such as the difficulties in financing of small and medium enterprises, will be resolved. These things are brought by the development of the Internet finance.The rise of the Internet Finance has been changing the pattern of the Finance Industry. In an increasingly competitive environment, the domestic commercial banks are no longer the former absolute monopoly. In order to survive and develop in the competition, commercial banks need to make the appropriate changes.This article is being written in such a context. As tertiary industry-service sector, commercial banks have services done, which is fundamental for their existence. In addition, the customer satisfaction is the most important indicator of quality of service. This paper does research from the perspective of commercial banking services.In the context of the Internet Finance, what is the subject of this study: commercial banking services, or how to make customers happy, or how to upgrade to conform to the development of a new era?The main body of the paper is divided into six parts:Chapter One includes the background and significance of the topic, ideas and methods of the study, the main content of the article, and innovation of the research.Chapter Two is the literature review and some relevant basic theories. It introduces the research status of the Internet Finance and commercial banking services transformation, in which thoroughly analyses information processing of the Internet Finance and commercial banking services. Based on previous studies, the paper systematically studies commercial banks how to carry out services transformation in a new competitive environment. Chapter Three is an overview, development and challenges of the Internet Finance. This chapter introduces the concept of the Internet Finance, IT-related technology, pattern classification, and current situation of domestic and foreign Internet Financial development. Finally, the paper finely analyses the changes of the traditional finance and challenges faced by commercial banks, which were brought by the Internet Finance.In Chapter Four, an analysis of commercial banking services transformation according to strategic orientation is focal point and innovation point in the paper. This chapter introduces the concepts of strategic management, and then analyzes respective strengths of the Internet financial firms and commercial bank. The overall strategy of commercial banking services is given through the SWOT analysis method, and the competitive strategy is given on the basis of Porter’s "five forces model". The macro direction of commercial banking services transformation is provided from the strategic perspective. Finally, this chapter concretely explains how commercial banking services transformation should be carried out through service innovation.In Chapter Five, case analysis, it firstly introduces the specific circumstances of Agricultural Bank of China’s information system. Then the problems of the information system are analyzed one by one, and the corresponding solutions are provided. These questions, analysis and solutions are directed against the Internet Finance to consider. Through a specific case analysis, the paper gives more realistic views on how commercial banks carry out services transformation.Chapter Six is the summary, pointing out the inadequacies of the paper and giving research future directions.The paper is expanded mainly around these two key points:the Internet Finance and commercial banking services. The method mainly used in the paper is the SWOT analysis of strategic management and "five forces model" in the competition. The research methods, the thinking of considering the problem and conclusions in the paper not only has a strong practical significance for the development of the commercial banks, but also provides a reference basis to other industries. At the same time, they provide reference to adjust business to adapt to changes in the business environment.