Research On Commercial Banks Dealing With The Development Of Internet Finance In China

With the widespread use of Internet and rapid development of big data, cloud computing and other information technology, the Internet companies began to get involved in the financial industry, combining with Finance to produce a new form-Internet Finance. With advanced technology and innovative business model, Internet companies give the users a fresh concept of financial services and customer experience, which makes its scale get explosive growth. In the meantime, it brought great impact to the commercial bank-the core of traditional financial industry. In this context, it has practical significance to select commercial banks under impact as subject, analyze both positive and negative impact brought by Internet Finance development to commercial banks, and then put forward the countermeasures.Through the combination of theoretical analysis method and practical application method, it is concluded that the negative impacts brought by Internet Finance to commercial banks are concentrated in the alternative of financial intermediary function, business and profitability, operating mode and technical aspects. However, what the Internet Finance brought to commercial banks is not only negative impact but also the promotion to the development of commercial banks, such as the access to information, financial innovation, micro-business financing and so on.Contrast the development process, business models and regulatory experience of Internet Finance in China and developed countries; it can be found that development of Internet Finance has become an irresistible trend. The experience from developed countries is to encourage its development and govern it, with particular emphasis on consumer protection, so that the Internet Finance can enrich the financial market as an organic composition and provide users with a variety of financial products and services.To conclusion, in order to deal with the negative impact from Internet Finance, commercial banks must take the following measures. Firstly, it is innovation of development model, which is to develop direct banks with exclusive products and marketing channels as the supplement of traditional business model. Secondly, it is to strengthen the cooperation with Internet companies, build their own platform and information system and improve their ability of data acquisition and processing. Thirdly, it is to attach great importance to the protection of financial professionals, the introduction of informational talents and cultivate compound talents. To final, the regulator factor should be considered when making countermeasures, so the commercial banks can avoid short-term behavior and look at the long-term development.