Study On Development Strategy Of The Personal Wealth Management Of Commercial Banks Under The Impact Of The Internet Finance

The Internet is one of the most important scientific and technological inventionssince the20th century, and it acts as an interactive platform to break the limitations oftime and space, so that everyone can share all kinds of information in the networksociety. And because the Internet provides an efficient and convenient informationtransmission technology, it became popular in the word on rapidly when it came out;moreover, it started to affect every aspect of human social life profoundly. After thecommunications industry, retail trade and so on, the finance sector has become anaffected industry by the Internet. In this case, Internet financial produced.Compared with the traditional financial industry, the difference is that the Internetfinance is based on big data, cloud computing, using Internet, and social networks, themobile Internet as a medium, therefore, it can provide users with more transparency,lower costs, more convenient operate and faster financial service. Based on thesestrengths, Internet finance will have a certain impact on the commercial banks, in theshort term, the impact is limited, but in the long run, the impact on the commercial bankis comprehensive (large state-owned commercial banks, city commercial banks andsmall rural commercial banks, etc.) and systemic (business, product design, productpricing, risk control, etc.) and sustained.The purpose of the paper is putting some suggestions on how to conduct PersonalWealth Management under the impact of the Internet Finance for the traditionalcommercial banks. Therefore, the paper describes the characteristics and businessmodels of Internet Finance in the first. Then the paper analyzes the impact from InternetFinance and the ability to withstand impact of the commercial banks with SWOTmethod. Based on these analyses about Personal Wealth Management of commercialbanks, we can have a good knowledge of the Personal Wealth Management ofcommercial banks in strengthens, weaknesses, opportunities and threatens. Based onthese analyzes, learning from the experience of foreign commercial banks, the papergives some suggestions on how to improve in business innovation, technical support,customer service and risk management for Personal Wealth Management of commercialbanks in the end.