| The emerging "Internet Finance" is flourishing irresistibly in China at present.Especially,third-party payment,online lending,online financing and other models bring an enormous impact on people's lives and thus get the government's attention.The rise of Internet finance has weakened the bank's status as a financial intermediary and brings a substantial impact on commercial banks' business philosophy,service model,profit model and other aspects.With the rapid integration of Internet and finance,traditional financial institutions try to reform one after another,and some commercial banks begin to change the business model.They make an intra-industry layout through the Internet finance concept,integrate products and services with the Internet technology as well as improve service models and profit models to maintain a competitive edge in the market.It is inevitable to reform and transform for joint-stock commercial banks in a new market environment.Facing challenges caused by the traditional financial service model,Shanghai Pudong Development Bank has implemented the "SPDB +" development strategy of Internet finance.Through the "SPDB +",online financing platform,the bank has integrated the retail banking,the corporate banking,and the interbank business.Consequently,the platform,covering the corporates business,retail business,financial markets,related internal stakeholders and social partners,has actualized a comprehensive network management of business channels and service channels within the industry as well as a good interaction relationship with internal and external partners.In this paper,the author analyses the "SPDB +" strategy of Shanghai Pudong Development Bank and further proposes some strategies and suggestions for the transformation of service models of Internet finance for domestic joint-stock commercial banks,which can provide some reference for these banks to avoid weaknesses and prevent risks in the innovation process. |
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