Research On The Influence And Countermeasures Of The Development Of Internet Finance On The Retail Business Of Commercial Banks

Since the reform and opening up,China’s commercial banks have been in a monopoly position in the financial market with its advantages in resource possession and credit rating,and their operating income mainly relies on deposit and loan spreads.With the rise and wide application of mobile Internet and big data technologies,Internet finance has also continued to develop and gradually grow.Internet finance has a wide range of innovative models,including financial innovation services such as third-party payment,P2 P lending,crowdfunding,and Internet wealth management.Internet finance,relying on big data and cloud computing technology,quickly took advantage of “convenient,open and transparent” financial market opportunities,and gradually broke the traditional monopoly of commercial banks,and its influence on various businesses was also growing.obvious.In the future,along with the continuous development of the “Internet Plus” model,Internet finance will compete more fiercely with commercial banks.If a commercial bank wants to survive and develop in competition,it is bound to conduct business transformation.This is not only a challenge but also a brand-new opportunity.It will have a far-reaching impact on the market competitiveness of the retail business.Therefore,it is necessary to discuss in depth the business model of Internet finance and the impact on commercial banks,and put forward a reasonable response.Therefore,the purpose of this paper is to begin with the definition of the concept of Internet finance,analyze the development history and business model of Internet finance,and analyze its many impacts on the retail business of commercial banks in China.By means of comparative analysis,empirical research and other ways,the impact of the Internet financial How to improve the competitiveness of commercial banks’ retail business and propose strategies to guide the transformation and innovation of commercial banks’ new retail business.