Research On The Development Of Personal Financialservices Of Guangming Road Branch Of Bank Of China Under The Background Of Internet Finance

With the popularity of the Internet in the fields of retail trade and communication industry,the financial industry has a high degree of integration with Internet information technology.Many advantages of Internet finance such as high transparency,wide participation,low intermediate cost and higher efficiency of information processing,which will impact the traditional business of commercial banks a lot.Personal financial services is an important way to expand the development scale and gain more market competitiveness for commercial banks.Under the background of deteriorating market environment and increasingly severe competition situation,commercial banks are also beginning to explore their own sustainable development path,which requires them to combine the characteristics of the times to carry out self-innovation.It is of great significance to explore and analyze the development path of personal financial services of commercial banks in China,based on the Personal Financial Services is playing an increasingly important role in the expansion of commercial banking business.The Guangming Road Branch of the Bank of China was established in 1985.After nearly 30 years of development,its personal financial management business continues to improve.With the rapid development of social economy,the gradual acceleration of the process of financial disintermediation and the acceleration of the scale of Internet financial management,the competition of China's banking industry is becoming increasingly fierce.Taking Bank of China Guangming Road Branch as an example,this paper uses SWOT analysis method to analyze objectively and comprehensively the impact of Internet Finance on Guangming Road Branch of the Bank of China during its development.At the same time,Internet finance also brings opportunities to the personal financial services of Guangming Road Branch of the Bank of China.Internet finance develops the small and medium-sized customer groups which are ignored by traditional commercial banks,opens up a new market of financial products and reduces the operation cost of banks.Under the background of Internet finance,to avoid and change the disadvantage of personal finance business,find out the flaws in personal financial services of Guangming Road Branch of the Bank of China,and then find out the solutions to the problems,improve risk management and strengthen risk control,so as to make the personal financial services of Guangming Road Branch of the Bank of China developed healthily and steadily.Based on the increasingly complex market environment,this paper explores the specific case of Guangming Road Branch of the Bank of China.It can provide reliable development suggestions for commercial banks to develop financial management business,so as to further improve the competitiveness of Guangming Road Branch of the Bank of China in the market.