The Research Of ICBC's Electronic Banking

In May 2014,President Xi Jinping gave the definition of the “new normal” when his on-the-spot investigation in Henan province.The “new normal” represents the speed of Chinese economic development which has turned from high speed to medium-high.The driving force of enterprise has turned from traditional elements to innovation.From then on,the competition between commercial banks in China has entered a new stage that more technical and professional than before.The number of bank branches is no longer the most important.At the same time,due to the People's Bank of China releasing the control of interest rates gradually in recent years,and the cross-industry competition from internet industry companies,commercial banks in China have lost almost all of their dominance.As a result,to find a way to reform and innovate has become the most pressing problem for every commercial banks in China.As the product of traditional financial business and information technology,electronic banking has become the most important service channel for all commercial banks.Firstly,in the past,banks make money from the difference of interest rates,and now,electronic banking helps banks to broaden their business scope and multiply their functions;secondly,thanks to the virtual service provided by electronic banking,banks could save more cost on operation,instead of building physical branches;thirdly,electronic banking can provide more content and efficient service than traditional banking,so customers could get better user experience by using electronic banking;finally,because the electronic banking business is not limited by time and space,banking could easily gain market shares in oversea or remote areas.Thanks to the rapid development of computer networking,mobile internet and electronic commerce,electronic banking businesses in China have gotten to a mature stage.In order to become more competitive,every bank is trying to develop more new products or services.So is ICBC.After 20 years of efforts,ICBC has built a diverse,intelligent,innovative and international e-banking business system,and has also established its own e-banking brand: e-ICBC.The “three platform” and “three product line” was a significant step forward for ICBC,achieving countless awards and public's acknowledgement.Although ICBC has made a great progress,some problems still exist within ICBC.Leading examples being the: imperfect operation system,immature risk control system,short professional talents,incomprehensive backup mechanism,underdeveloped “rong e” series products and several others.This thesis not only discovers the above problems,but also analyzes their causing factors,and at the end of the article,suggestions are also given for each problem,such as: optimizing the internal control system,completing the backup mechanism,intensifying the brand building designed to help ICBC to transformation and upgrading by its e-banking better development.