The Development Of Online Banking In US And Its Revelation To China

In 1990 s,the change of financial structure in the US,especially for financial disintermediation and interest rate liberalization,makes the adjustment to the model of traditional bank become inevitable,and the situation of traditional commercial banks became even worse since Microsoft and Intuit started to provide personal financial service.Online Banking which based on the Internet completely came into being with the rapid development of information industry and the popularity of Internet at the same period.Although the emergence of Online Banking impacted financial market a lot,it did not overturn the traditional banking model.Traditional commercial banks accepted new technologies soon because its positive attitude of financial innovation.Traditional commercial banks began their network and regained the upper hand in financial market.Online Banking has many natural advantages such as low cost,convenient transaction,etc.,but it has not been the mainstream of the banking industry for which it lacks profitability,customers and fund.In addition,its lame flexibility can not answer the need of diversified financial markets.With the development of information technology,various Internet financial products gushed out.,and the Online banking has not involved in the development of new technologies for example in Blockchain,so it is hard for Online Banking to have a rapid development again.The pure play internet banks has appeared in China because of the development of the Internet Economy,but it is still in the initial stage,and the financial environment in China is more complicated,so we should accelerate the development of Online Banking with the experience of US and the unique advantages in China.And we should improve the financial supervision and pay attention to protection of financial consumers’ rights on the basis of speeding up the liberation of interest rate and relaxing the market access standards.