Case Study On Digital Direct Selling Model Of Baixin Bank

In the past ten years,interest rate liberalization,financial disintermediation,and financialization of Internet companies have brought heavy pressure on traditional commercial banks.In order to resist the impact and seek further development,direct-selling banks have been introduced into China as a new form of commercial bank transformation and upgrading.After the development of domestic direct selling banks to a certain stage,problems such as organizational constraints,single product system,and backward risk control technology have become prominent,making it increasingly difficult to meet actual needs.The direct selling bank of independent legal person model opened an opportunity for commercial banks to transform on this road.Facing the Internet digital economy era,Baixin Direct Bank combines its own particularities and embarks on the road of digital development based on the breakthrough of the traditional direct sales model.It is also of important research significance for commercial banks to take direct sales as a starting point to better move towards digital transformation.This paper takes Baixin Bank as the research object,through literature research method,case analysis method and statistical analysis method,under the guidance of theoretical basis,to study the digital direct selling model of Baixin Bank.It mainly analyzes from three aspects: direct sales model innovation,innovation effect and existing problems.The analysis shows that in terms of direct selling model innovation,Baixin Bank’s overall product system is still dominated by deposit,loan and remittance products,but there are innovations in details.The customer acquisition model adopts scenario-based customer acquisition methods,which are open and shared,and multi-role participation.In the data model,a variety of data assets are used to drive the normal operation of the business.In the technical model,a distributed financial technology architecture is built to realize the digital management of the whole process from product design and development to formal operation.In terms of innovation effect,the overall scale of Baixin Bank has continued to grow,and it has great potential for development in terms of asset quality,deposits and loans,income sources,and number of customers.Stable income and sufficient capital support its sustainable development,but it also faces fierce competition.Industry competition and the downward market economy bring about fluctuations in profitability while expanding the scale.At present,Baixin Bank still has many problems restricting its development,including a new round of product homogeneity under the weakening of the first-mover advantage of independent legal persons,the transformation between existing data and incremental customers,information security issues brought about by new distributed financial technology,and the connection between macro supervision and the new direct selling model.Finally,according to the conclusion of the development of the digital direct selling model of Baixin Bank,five suggestions are put forward for other commercial banks to take the digital transformation under the direct selling model,namely gradually changing the overall organizational structure,identifying specific product customers and service positioning,revitalizing the existing data assets,promoting the replacement of distributed financial technology systems and changing the way of supervision and strengthening the supervision of Internet development factors.