Research On Digital Transformation Of ICBC HD Branch’s Personal Finance Business

At present,the digital economy is profoundly transforming people’s production and lifestyle,and Digital transformation has become the general trend of socio-economic development.With the booming development of online finance led by Internet giants,banks are constantly experiencing fierce challenges from peers and cross-border competitors,and Digital transformation is increasingly becoming an inevitable choice for them to cope with challenges,transform and upgrade.Personal financial business has become the focus of Digital transformation of commercial banks due to its wide customer coverage,dispersed risks and strong customer stickiness.This thesis the Digital transformation of ICBC’s personal financial business with the case analysis method based on the research object of ICBC’s HD sub behavior.Firstly,the Porter Five Forces model is used to analyze the necessity for commercial banks to transform their personal financial business.Secondly,it sorted out the leading Digital transformation measures in various industries such as the implementation of "scripless counter operation services" reform,the development of "online and offline integration" services,and the promotion of "outlet competitiveness improvement" strategy carried out by ICBC HD Branch under the leadership of the Head Office.Thirdly,through in-depth interviews,we discussed the problems still existing in the process of Digital transformation of personal financial business,including lack of linkage in organization and coordination,lack of professionalism in technical support,deep-rooted traditional business model,insufficient allocation of compound scientific and technological talents,etc.These problems are mainly due to the lack of attention at the branch level,the lack of Digital transformation concept among front-line employees It is difficult for assessment and incentive to dynamically fit the Digital transformation and other reasons.Finally,improvement measures were proposed from the perspectives of scientifically optimizing internal management models and effectively applying intelligent technologies.It is expected to provide reference and guidance for China’s commercial banks to continue to deepen the Digital transformation of personal financial services.