Research On Retail Business Development Of Commercial Banks Under Financial Technology Infiltration

When Yu’e Bao appeared in 2013,we understand the importance of technology in enabling finance.At the same time,the development wave of fintech has swept in rapidly,and the traditional commercial banks have developed rapidly,but they also face many bottlenecks.Cross-border operation has become the normal development of many fintech enterprises,and trade friction,interest rate liberalization reform and other factors have added uncertainty to the development,which makes it even more difficult for China’s traditional banking industry to achieve rapid development under the changing economic situation,and the market share is gradually reduced.Especially for city commercial banks,the development of fintech has broken through the regional restrictions of people’s deposit and withdrawal,and homogenized products can be seen everywhere,resulting in the lack of stickiness between banks and customers.In addition,the city commercial bank is limited by the geographical conditions and the scale of its own competition,and its profit margin is shrinking,which further aggravates the risks they face.Therefore,the transformation of commercial banking retail business has become an unstoppable trend.In order to clearly understand the current situation of retail business development of commercial banks under the infiltration of fintech,and to think about how to make the retail business bigger and stronger,this paper chose the Bank of Suzhou as a case study.Firstly,objective analysis from the perspective of the whole industry,and secondly,in-depth discussion on the retail business of Bank of Suzhou.With the help of empirical analysis methods,it points out the current business development bottleneck of Bank of Suzhou from general to special,it focuses on the effectiveness discussion of the evaluation model of internal and external factors of retail business,and extracts the problems existing in the current development of the Bank of Suzhou,including the top-level design,product system,customer acquisition efficiency,risk prevention and control,and personnel training.In the meantime,we put forward the innovative development countermeasures of Bank of Suzhou retail business under fintech penetration in light of actual conditions,including highlighting the top-level design guidance and improving the online product channels.I sincerely hope the study of this article can not only reveal the basic situation and existing problems of the retail business development of Bank of Suzhou under the penetration of fintech,but also reflect some common problems of the same type of bank,and provide some reasonable reference and reference for its finding an effective development path.