Research On Strategies For ABC To Copewith IT FIN Challenges

The Internet finance(IT FIN)is dominated by financial Internet Co, Internet, cloud computing, big data and other information technology in the financial field, the use of integration and the formation of new financial industry. On the essence of Internet finance, its practical significance lies in the fundamental of inclusive finance.With the development, Internet Finance continue to grow and develop, its role in the allocation of financial resources, the supply and demand of funds docking unprecedented. more and more deeply touched the core business, commercial banks are far-reaching, challenging. Development of Internet Finance makes commercial bank of our country such as Agricultural Bank of China(ABC) capital intermediary position weakened, business philosophy, service mode and management mode are subject to different degrees of impact, core business is affected greatly, and management risk is also increased.The Internet finance produces "catfish effect", forced ABC have to carry out the transformation, innovation and change. This paper analyzes ABC relative advantages and disadvantages of the Internet Finance, ABC with strong financial strength, strict supervision mechanism, outstanding credit system and strong risk control ability. The disadvantage of the old business model ingrained, over traditional business, the lack of Internet thought, data mining capacity is weak, and the low-end customer service is obviously insufficient. The control of Internet Financial challenges, based on the advantages and disadvantages of ABC, this paper presents strategies for ABC to cope with the Internet Financial challenges.Through the analysis and research, found the factors that led to the rapid development of Internet banking, to find out the challenges on ABC and other commercial banks from the Internet finance, grasp the advantages and disadvantages of ABC compared with the Internet Finance, to find the specific strategies of the ABC, has a certain practical significance for the promotion of ABC management level, hope in the context of the Internet financial era, to provide some ideas and methods for the future development and the new competitive of ABC.