Research On Business Strategy Transformation Of Bank Of China NC Branch Under Internet Finance

In recent years,Internet technology has made rapid development,the Internet penetration rate and penetration rate have reached a high level,has been integrated into all aspects of society,and has an important impact on social and economic development.As an important part of Internet plus,the state attaches great importance to the healthy development of Internet Finance and has introduced a series of measures to support and guarantee it.In this context,Internet Finance ushered in a high-speed development period,and derived many Internet financial products,such as third-party payment,P2 P network loans,e-banking,online crowdfunding and so on.The emergence of these products has attracted people's attention and constantly expanded market share,which has a huge impact on the traditional financial business of traditional commercial banks and constantly eroded the original market share of traditional commercial banks.Although the traditional commercial banks have a long history of development,with a broad customer base and inherent market share,how to make full use of the advantages of Internet finance to achieve their own business strategic transformation in the context of Internet finance to meet the needs of the development of the current financial industry is an important issue to be solved by the traditional commercial banks.In this study,NC branch of Bank of China,one of the six major state-owned banks,is selected as a typical case for analysis,which has certain representativeness and typicality.First of all,this paper briefly introduces the basic situation and business development of NC branch of Bank of China,and introduces the impact of Internet Finance on NC branch of Bank of China from three aspects: traditional business,profit model and operation mode;secondly,it analyzes the external environment of NC branch of Bank of China,including macro environment and industry competition,using PEST analysis model and Porter five force model;Thirdly,based on the above analysis of the external environment of BOC NC branch,this paper uses SWOT analysis to explain the necessity of BOC NC branch's business strategic transformation,and points out the choice of its business strategic transformation according to the SWOT matrix.Finally,according to the choice of BOC NC branch's business strategic transformation,the overall strategy and transformation of BOC NC branch's business strategictransformation in the context of Internet finance are formulated At the same time,it puts forward the implementation steps of business strategic transformation from three aspects of business transformation,platform cooperation and structural adjustment,and puts forward the guarantee measures for the implementation of business strategic transformation,such as accelerating business innovation,strengthening platform cooperation,accelerating structural adjustment and improving risk internal control system,so as to ensure that the business strategic transformation of NC branch of Bank of China can be well implemented.Through the research on the business strategy transformation of BOC NC branch in the context of Internet finance,this paper puts forward the specific implementation steps and construction guarantee system of BOC NC branch business strategy transformation,which has important guiding significance for accelerating the business strategy transformation in the context of Internet finance,and can also provide relevant reference for other traditional commercial banks' business strategy transformation.