Research On Transformation Of Traditional Commercial Bank Under The Background Of Internet Finance

The development of mobile communication technology,cloud computing and large data technology has spawned a new financial format-The Internet Finance.The rapidly rise of Internet finance has been welcomed by the public,and aroused the attention and support of the country.This new form of finance has characteristics of high efficiency,low cost and information transparency.Its has had an impact on the profit model of traditional commercial banks,so that its service mode and business model are affected.This paper introduces the six financial models existing in Internet finance,after explaining the characteristics and business of Internet finance,this paper studies the impact of Internet finance on the business model of traditional commercial banks by qualitative research and quantitative research,using Eviews7.2 to study the impact of the development of third party payment and P2P on traditional commercial banks,analysis of its related relationship,found that the development of Internet Fiance on commercial banks had a certain impact.In order to meet the challenges of Internet finance,many commercial banks have been actively engaged in the exploration of business model transformation and seeked new profit growth points.Through the collection of cases,it can be summarized into four typical transition modes:the first one is Minsheng Bank as the representative of the direct marketing model;The second one is CITIC Bank as the representative of the "salary pot"product innovation model;The third one is to Ping An Bank as the representative of the supply chain financial model;The fourth one is We bank as the representative of the private banking model.Through the analysis of different business models of the specific practices and characteristics,and summed up from other banks for reference experience.Proposing countermeasures for the traditional commercial banks in the context of the Internet to achieve the transformation.