Commercial Bank Internet Finance Business Innovation

Since the State Council issued the "Guiding Opinions of the State Council on Actively Advancing the " Internet + " Action" on July 4,2015,China's traditional industries have actively pursued the transformation of the "Internet +" model,in which the traditional financial industry has a strong financial advantage.And the talent base has become a model for Internet transformation.As the leader and pioneer of China's banking industry,Industrial and Commercial Bank of China(ICBC)took the lead in proposing ICBC's "e-ICBC 1.0" strategy and announced the transformation of its three major platforms and three product lines.This is the ICBC Internet finance business innovation.The core content.With the continuous exploration in the past four years,the “e-ICBC” brand strategy of the Industrial and Commercial Bank of China has undergone several adjustments,and finally determined the strategic goal of the smart bank with the theme of “openness” and the strategic plan with the theme of “cooperation”.In the transformation process of the past few years,Industrial and Commercial Bank of China has achieved remarkable results.The contact platform has been continuously adjusted and optimized.The Internet innovation products have been continuously improved and upgraded,and the scale of mobile customers has continued to expand.However,some market advantages have also been lost.The brand image and business scale have not been satisfactorily achieved.This paper analyzes the development status of Internet finance industry and its impact on commercial banks by using case analysis method and comparative analysis method.It also analyzes the development process of ICBC's internet financial innovation brand e-ICBC by case analysis method.The significance of the bank's current smart banking strategy,and through this series of processes,pointed out that ICBC's Internet finance business still has problems such as conservative transformation steps,loss of market opportunities,internal impact during the transition period,and narrow coverage of service scenarios.The four suggestions corresponding to the problem are focusing on market demand,accelerating the construction of an open platform,optimizing the client experience,and promoting employee transformation.In the end,according to the history of ICBC's Internet finance business innovation,it summarizes the four key points of clear strategic main line,establishing product image,perfecting product line,and adhering to online and offline collaborative development,so as to provide reference for the financial industry to promote the development of Internet finance business.