Research On The Application Of Fintech To Development Retail Business In Commercial Banks

According to the 2018 Global Retail Banking Report of BCG,it is expected that by the end of 2021,the revenue of global retail banks will grow at an annual rate of5.3%,exceeding the fastest growth rate in the past decade.Retail business will become one of the main development directions of commercial banks in the future.At the same time,the global investment in Fintech is also showing a trend of multiple growth.China is an important region for the development of Fintech.Therefore,with the continuous development of "Big retail" and "Fintech",it is an inevitable trend for commercial banks to use Fintech to develop retail business.To this end,this article takes China Merchants Bank as an example to conduct a case study,and then explores the development of the overall commercial bank retail business in the context of Fintech through empirical research.This article is mainly divided into six parts: Chapter 1 is the introduction.Chapter 2 sort out the theories and concepts involved in the research content.Chapter 3 describes the general situation of the development of retail business of commercial banks under the background of Fintech from a theoretical perspective,including the opportunities and challenges,and the channels to promote retail business innovation.Chapter 4 is a case study of China Merchants Bank.First,it introduces the development of China Merchants Bank's retail business.Second,it introduces China Merchants Bank's strategy in using Fintech from the aspects of retail business operations,services,products,and risk control.In order to confirm whether the Application of Fintech has a general impact on the retail business of domestic commercial banks.In chapter 5,11 years of data were collected from 12 banks to construct panel data and empiricalanalysis was performed using stata13.Chapter 6 gives some advice to commercial banks based on the above analysis.The conclusions of this paper mainly include: First,through the case analysis of China Merchants Bank,it is believed that the Application of Fintech has an impact on the efficiency,cost,profitability and thinking of China Merchants Bank's retail business.The bank's retail business operating efficiency has a generally positive impact.Finally,in combination with the above research,five suggestions are made:formulate a Fintech development strategy,strengthen the cultivation of Fintech talents,optimize channel construction,promote product innovation,and strengthen digital risk control capabilities.The innovation of this article is mainly reflected in the innovation of research methods.Before that,domestic research focused on the impact of Internet Financial Development on commercial banks,that is,the impact and change of external factors on commercial banks.There is little analysis on the effect of commercial banks' own investment in science and technology.In addition,the empirical analysis on the effect of the Application of Fintech in retail business is less,most of the research focuses on the transformation and development strategy and path of Fintech to help retail business.Therefore,based on the empirical analysis of the investment in financial science and technology of listed banks,this paper takes China Merchants Bank as an example to conduct a specific study,and analyzes the impact of the development of financial science and technology on retail business from a qualitative and quantitative perspective,which is more consistent with the current development background of "Big retail" and "Fintech".