Research On Digital Transformation Strategy Of Rural Commercial Bank A

In recent years,the continuous development and commercialization of emerging technologies such as cloud computing,big data,and artificial intelligence has given rise to changes in the financial industry’s products and business models and greatly changed the financial ecology of China.This has led to profound changes in commercial banks’ service models and profit growth points.As a result,the digital transformation of commercial banks has developed into a widely discussed hot topic in the industry.In addition,the volume of commercial banks in China is huge,and the background of historical reform is strong.Different types of banks have different backgrounds and strategies for their digital transformation.Rural commercial banks,as an important part of China’s banking industry,face the dilemma of poor data foundation,inadequate personnel and system guarantee,and unclear strategic planning.How to better develop and implement digital transformation strategies in this type of banks is a topic which is worth studying.This thesis defines the concept and connotation of digital transformation discussed in this thesis and summarizes and proposes a framework for the digital transformation of commercial banks on the basis of combing relevant literature at home and abroad.It takes Rural Commercial Bank A as an example,introduces the basic situation of its development and operation,takes the framework of digital transformation of commercial banks as an outline,and profoundly analyzes the motives of its digital transformation,as well as the problems and difficulties in the implementation of digital transformation.The thesis combines historical research literature and advanced practical experiences in the industry to propose reasonable improvement solutions,aiming to provide a reference direction for A rural commercial bank’s later digital transformation.Meanwhile,it also provides experience for the development of digital transformation of other rural commercial banks to achieve efficient and sustainable development of commercial banks.Specifically,this thesis firstly introduces the relevant literature viewpoints on digital transformation,mainly containing digital transformation theory,digital transformation of commercial banks,and the application of digital technology in banks,and in this regard.It gives the definition and connotation of digital transformation in this thesis and then proposes a framework for the digital transformation of commercial banks.Secondly,the thesis introduces the basic information and development history of Rural Commercial Bank A,its production and operation status,and the development of its digital transformation,aiming to introduce and describe the current status of the digital transformation of Rural Commercial Bank A.Thirdly,this thesis dissects the problems of Rural Commercial Bank A in the process of digital transformation based on the framework of digital transformation of commercial banks as an outline such as digital transformation strategy,customer service,operational efficiency,organizational guarantee and technical capability,aiming to describe and analyze the problems.Finally,the thesis proposes corresponding countermeasures for the above-analyzed problems: first,to clarify the strategic objectives and specify the implementation path;second,to enrich digital products,improve the proportion of online services,enhance user experience and thus improve customer service;third,to enhance process automation,continuously optimize the process,make data-driven decision and thus improve operational efficiency;fourth,to build an agile organization to attract talents,create a data thinking culture and support relevant systems;fifth,to enhance the level of technological innovation and promote normal data governance;finally,corresponding suggestions are also given for continuous optimization.This case study concludes with a summary of the main conclusions and insights,clarifies the shortcomings of this case study,and provides an outlook for the future.