Research On The Upgrade Of Pingan Group's Internet Finance Business

2015 China put forward the development strategy of "Internet+",attracted great importance to the new economic industry of the Internet,many institutions have started internet financial business,resulting in increasingly fierce competition in the industry.However,there are many management irregularities,material counterfeiting and other issues during internet financial services,and get fined by the regulatory authorities.Under the weight of industry competition and regulatory policies,many companies are exploring business upgrades in the internet finance.Pingan Group is one of the earliest enterprises in China to implement integrated financial management,in the early step of trying the internet financial business,its business mainly concluded P2P network lending,the business model is single,and the risk is uncontrollable,with the traditional financial business lack of contact,the business is recessionary in the fierce industry competition.At the same time,domestic regulation of the internet financial industry is constantly strengthening,the old single business model cannot meet the existing regulatory requirements.In view of this situation,Pingan Group has started the upgrading of Internet finance business,not only innovated and developed in the financial business,but also upgraded the internet finance business in medical,automotive,real estate services,and established a comprehensive integrated service platform.Pingan Group upgrade their business model and faced the industry competition and regulatory pressure positively,gave full play to the internet finance tool,as a case study from the perspective of financial holding companies on how to plan the development strategy of Internet financial business,the combination of internet finance and traditional finance development has a high research value.This paper mainly takes the upgrading of Pingan Group's internet finance business as the research object.Firstly,it analyzes the background and significance of the case study of Pingan Group.Then it analyzes the upgrading strategy of Pingan Group's Internet finance business,mainly focusing on the five ecospheres of financial services,medical care,automobile services,real estate services and smart cities.After introducing the case,the paper analyzes the advantages of business upgrading,that is,Pingan Group has the ability to conduct business upgrading under these conditions;Then it analyzes the necessity of business upgrading,that is,under what circumstances Pingan Group has to start business upgrading,mainly from its own industry and supervision three aspects of analysis;Then,this paper analyzes the results after business upgrading.After business upgrading,Pingan Group's Internet finance business has improved its competitiveness,deeper penetration among businesses and enhanced profitability.In the end,this paper summarizes the experience of Pingan Group's Internet finance business upgrading,and puts forward suggestions for the future development of Internet finance from three aspects of risk control product competitiveness personnel training.It is believed that Internet finance is a tool whose essence is still finance,and its development should not magnify financial risks.