Research On The Development Strategy Of LY Bank In The Internet Financial Environment

According to the statistics released by the public,as of the end of 2017,the number of online payment users in China has reached 531 million,an increase of 11.9% over the previous year,an increase of 56.61 million people and an online payment usage rate of 68.8%.From 2011 to 2017,the number of online payment users in China increased by 364 million.Various types of financial services that are provided by the domestic third-party payment giants(represented by Alibaba's Alipay and Tencent's TenPay)have become an important choice for everyone conducting Internet financial services.Internet financial companies continue to innovate financial services channels,launched in the field of payment one after another more means of payment,such as mobile payment,mobile POS,cloud flash payments.In other areas,such as financing,guarantees,financial management,also continue to introduce new.All kinds of financial services that provided by Internet finance companies have gradually become less clear from the traditional business of commercial banks and meanwhile,they have also seriously threatened the traditional financial businesses of commercial banks.Therefore,commercial banks must clearly recognize the threats posed by the Internet and adapt to the tremendous impact brought by Internet finance as soon as possible,change their concepts,draw on the advantages of Internet finance,change business philosophy,innovate business types and broaden financing channels for payment Way to achieve the development of the corner overtaking,a firm foothold in the Internet financial tide.This paper describes the concept and development process of Internet finance firstly,and secondly analyzes the impact of Internet finance on commercial banks.And then leads to LY Bank under the influence of Internet finance to make coping strategies,and finally according to the actual situation of LY Bank,discusses the LY Bank in response to the development of Internet finance needed for the development strategy.During the work period,the author has participated in the Internet Banking Construction of LY bank,who knows more about LY bank's internet financial construction process since the year of 2015.In this paper,the concept of Internet finance has been reviewed at first.The development process and several main models of internet finance in China have been introduced also.Secondly,the impact of internet banking on commercial banks has been put forward through the change of data in LY bank in the past three years.Then,through the comparison of the data index of internet financial services variety,customer number and transaction amount of LY bank from 2015 to 2017,the promotion of service quality about the LY bank in the past three years has been obtained.After the establishment of direct selling banks,personal / enterprise network banking,WeChat bank,mobile banking and many other products,a positive role in the capacity of the bank,the expansion of its business scope,and the improvement of its operating results has realized.At the end of the paper,it points out that besides fully integrating its own situation and considering local policies and customer groups,LY bank should also try to build online integrated channels and to introduce big data technology to enhance the level of operation and management,and further,continue to exert momentum in the construction of Internet finance.As a member of the small and medium urban commercial bank,the development strategy of the bank's internet financial business researched in this paper can also be used as a reference for other small and medium-sized urban commercial banks similar to the LY bank with the same the operating environment.