Research On Digital Transformation Of CS Bank Retail Business

In recent years,all kinds of financial products developed on the basis of the Internet have mushroomed.The vast majority of small deposits are no longer stored in banks,but instead are funneled into online financial products such as Changetong and Yu ’ebao.These internet-based financial products,with their advantages of high income and convenient operation,gradually encroached on the retail business market of banks,and the traditional retail business of banks lost its competitiveness.And these Internet companies have a lot of money tied to the platform through delayed payment and third-party accounts,which also has a big impact on the banks.The digital transformation of retail business is not only a powerful means to deal with this impact,but also an important topic facing China’s banking industry.Compared with large commercial banks,there are a large number of urban commercial banks in China,and their product design is closer to the regional reality.However,the investment in science and technology is generally limited,the data management ability is weak,and the road of digital transformation is more difficult.Therefore,a clear transformation plan needs to be customized according to their own strengths and weaknesses.Under the subversive influence of digital financial technology,the service channels and service carriers of retail banks are undergoing in-depth adjustment,the migration effect of seller’s market to buyer’s market is constantly emerging,and the competition between banks and cross-industries is becoming increasingly fierce.Around the year 2016 for the above reason,CS Banks begin to implement the strategy of retail business transformation,through increased investment in scientific research,organizational change,optimize the guest group of management,to develop unique wealth management mode,digital retail business risk control,digital retail products and innovation,relying on local advantages to gradually expand the width and depth of the retail business.TBy analyzing the operation status of CS bank’s retail business in recent years,in the process of digital transformation of retail business,the contribution capacity of retail business to CS bank’s income keeps increasing,the scale of retail business keeps expanding,and finally the profitability of retail business is enhanced,the efficiency of capital use is high,and the quality of assets is improved.It is clear that urban commercial banks should combine their own advantages to determine transformation ideas in the process of digital retail business transformation.However,there are still some shortcomings in the digital transformation of CS bank’s retail business,such as the weak growth of retail demand deposits,the lack of competitiveness in the homogeneity of digital products,the lack of digital marketing means and the lack of flow in the retail financial ecosystem.After putting forward the corresponding optimization strategy,this paper summarizes the successful experience of its transformation,and on this basis,this paper provides suggestions on how to carry out digital transformation of retail business in other cities.First,in the process of digital transformation of retail business,urban commercial banks should make clear transformation ideas and characteristic development strategies;Second,in the process of transformation,customer-centered thinking is the core of transformation;Third,in the process of transformation,urban commercial banks should combine their own advantages and develop locally.Fourth,pay attention to organizational transformation and personnel training.