| With the increasing popularization of mobile internet and the wide application of new technologies such as big data and artificial intelligence,great changes have taken place in the people’s lifestyle and the way of production.The COVID-19 pandemic,which has lasted for three years,has further accelerated the trend of online consumption and transactions.The steady growth of China’s economy,the continuous increase of people’s income and the constant upgrading of consumption structure have created favorable external environment for the development of internet finance.As a result,commercial banks have been increasing investment in the field of internet finance.Relying on capital advantages and technological strengths,G Bank has taken the lead in deploying internet finance.With more than ten years’efforts,it has established a powerful internet financial service platform.Its Q branch,which is under direct management of head office,has been vigorously promoting internet financial business,being at the leading edge in the local market.However,with the intensified market competition,the homogeneity of internet financial products has become increasingly serious,and problems such as low customer quality,weak online marketing capabilities are increasingly emerging,which seriously restricts the further development of the business.In the era of digital economy,the Q branch urgently needs to develop a new competitive strategy in order to maintain and expand its competitive advantage in the field of internet finance.On the basis of sorting out the relevant theories and literature review of internet finance,this paper takes the Q branch of G Bank as the research object,studies the macro environment and financial industry status of the Q branch,analyzes the development stage,competitive situation,market position and competitive relationship of Q branch’s internet financial business by using Porter’s five forces model,identifies opportunities and threats,and constructs the EFE matrix to provide reference for the formulation of the competitive strategy.Applying the Porter’s value chain model and starting with the basic activities and auxiliary activities of the internet financial business,this paper systematically analyzes the composition of the value creation of the internet financial business,finds out the strengths and weaknesses of the Q branch from the two aspects of resources and capabilities,and constructs the IFE matrix to provide a basis for improving the internal environment to ensure the implementation of the strategy.On the basis of the above analysis,the key factors are matched,and the SWOT analysis method is used to obtain three alternatives for the competitive strategy of the internet financial business of Q branch of G BANK.Through the creation of the QSPM matrix for quantitative analysis,the differentiation strategy is finally determined as the best choice for the internet financial business of the Q branch of G Bank.Based on the above analysis,this paper has further proposed to implement the differentiation strategy from the four dimensions of products,services,promotion,and channels,including building three differentiated product systems of online financing,wealth management and payment,constructing differentiated customer service system and differentiated platform financial ecosystem,creating the digital and intelligent promotion system,the accurate and normalized operation system,the intelligent and characteristic publicity system,strengthening the construction of mobile banking channels,enhancing the development of online and offline integration and other specific measures.And the implementation of the strategy is guaranteed in five aspects:organizational mechanism,human resources,information technology,financial resources,internal control compliance and risk management.This paper has theoretical significance in exploring the theoretical framework of the internet financial competition strategy of large state-owned commercial banks’ urban branches in the post-epidemic era,and providing a reference for the path selection,strategic implementation and safeguard measures.Meanwhile,it has important practical significance for Q Branch to promote online and offline integration and optimization,to accelerate the innovative development of internet financial business,and to promote the comprehensive realization of digital transformation of Q Branch with internet finance. |
