The Development Of Internet Finance And Its Shocking To The Traditional Business Of Commercial Banks

With the application of cloud computing,big data technologies and mobile communication, the Internet has been integrating with various industries and innovating them at the same time. Financial industry, which has the same number properties as the Internet, is also difficult to avoid the trend. The integration of Internet and finance has created various kinds of new financial models. With respect to the traditional financial models, the new financial models can break through the restrictions of time and space to meet the demand of customers which are served with lower costs and more efficient models. They get customer resources of bank, and the rapid development of Internet finance has been making more non-financial institutions involved in the financial industry, promoting financial disintermediation, making banks faced the risk of being marginalized. So it has important practical significance to do research on the shocking of Internet finance to the traditional business of commercial banks.Retrospect the researches, foreign researches pay less attention to the impact on the traditional business of commercial banks. Most of domestic researches are normative analysis and lacks of empirical testing. Because the coverage of Internet finance and commercial banks is too wide, to conduct a comprehensive analysis is not operable. Based on kinds of analysis, from the perspective of shocking of Internet payment to commercial bank intermediate business is more relevant, which has strong persuasive.The paper combines qualitative analysis and quantitative analysis to analyze the shocking of Internet finance to the traditional business of commercial banks. Firstly, the current situation shows that Internet payment is the earliest and most mature Internet financial model. Internet payment is the best represent for Internet finance. What's more, Internet finance has experienced rapid development and the growth gradually returns to rationality. Secondly, Internet finance has some negative impact on the traditional business of both assets and liabilities, but it's limited on the whole. More impact is on the business model. In contrast, the shocking to commercial bank intermediate business which scale is smaller, is more obvious and so it is the main aspect of the shocking. Thirdly, select commercial bank intermediate business data of 12 representative listed commercial banks and Internet payment data from the first quarter of 2012 to the fourth quarter of 2014, through panel model yields analysis, Internet payment has a significant negative shocking to commercial bank intermediate business. Finally, the paper comes up with policy recommendations.