Research Of Digital Transformation Strategy Of INDUSTRIAL And Commercial Bank Of China BB Branch

With the vigorous development of digital economy and the deepening of national digital construction,people have higher and higher requirements for all kinds of products and services.The financial industry is accelerating its exploration of an innovation-driven digital development model.The rise of Internet finance has brought unprecedented impact on the traditional business,business philosophy and business model of commercial banks.The Internet has created access to information,and with it,access to data,Before handling financial services,customers first search for various financial products online and select the products they like and are suitable for them,instead of consulting directly on the bank’s website or counter.As an important member of financial institutions and one of the institutions most closely related to digital,the digital transformation of banks is more imperative,which is related to the future development and lifeblood of banks.Based on financial innovation theory and customer relationship management theory,this paper uses case analysis method to put forward strategic suggestions for the digital transformation of ICBC grass-roots branch,namely BB branch.Industrial and Commercial Bank of China is a pioneer in the digital transformation of the domestic banking industry,but as a grassroots institution,BB branch is only in the initial stage of transformation.Through the analysis of the practical cases of the digital transformation implemented by ICBC,it is proved that the digital transformation has an obvious promoting effect on the development and management of banking business.It has found out some problems existing in the current BB branch in the process of digital transformation and the causes of the problems,which has reference significance for BB Branch of ICBC to better carry out digital transformation work.First of all,the paper expounds the necessity of digital transformation of commercial banks in the context of financial technology to promote the strategic transformation of banks,analyzes the domestic and foreign banking industry’s research on digital transformation,highlighting that digital transformation is an important strategy for commercial banks.Secondly,it introduces the connotation and related theories of bank digital transformation.Then,in the context of the impact of the epidemic,customer experience,transformation of network service mode,transformation thinking of ICBC and transformation goals of grassroots institutions,Combining the transformation status of BB Branch and some cases of digital transformation implemented by other branches,Discover the hidden resistance and reasons of BB branch in the digital transformation work.The analysis results show that the main problems are the allocation of human resources,the lack of compound talents,traditional marketing methods,and the wrong cognition of digital transformation.After rational thinking about the causes of these problems,the paper puts forward targeted suggestions on the digital transformation and development of ICBC BB Branch.The main suggestions are human resource optimization strategy,full individual customer marketing strategy,external cooperation strategy,and characteristic network transformation strategy,Coordinate development and security strategies.At the end of the paper is a summary of the full text,and the future digital banking model to make expectations and prospects.