introduce
The rise of Internet finance is inevitably related to environmental factors. The continuous development of e-commerce and online shopping has provided a technical environment for Internet finance. At the same time, as people's quality of life continues to improve, their awareness of financial management continues to increase. In addition, in recent years, my country's market has developed slowly and bank deposit interest rates have declined year by year. People no longer regard banks as the main place to save money, but gradually begin to pay attention to financial management. Internet finance has had a huge impact on the development of the traditional banking industry. In the context of the new era, the traditional banking industry must strengthen innovation and development, strive to seize the opportunities brought by Internet finance, continuously enhance core competitiveness, and ultimately achieve the goal of long-term stable development.
1. The impact and impact of Internet finance on the traditional banking industry
(1) Impact on the survival of the traditional banking industry
The rapid development of Internet finance accounts for an increasing share of investment, financing, payment and other businesses, which has also inadvertently increased the pressure on the survival of the traditional banking industry. Traditional banks have to deal with both homogeneous competition and heterogeneous competition. Qualitative competition is not only reflected in deposits and loans, but also in product marketing, technology research and development, personalized services, etc. The influence and impact of Internet finance has threatened the survival of the traditional banking industry, and may even face the crisis of being eliminated by the market.
(2) Impact on traditional banking service methods
The Internet platform has the advantages of efficiency and convenience, so it is also loved by the majority of users. Through Internet finance, users’ fragmented financial management needs can be met. The service groups tend to be younger, and the financial services are personalized, flexible and changeable. Able to meet the diverse needs of users. In contrast, the traditional banking industry has higher financial product amount thresholds, and all financial services must be handled in person at the counter.
Internet financial management forms are very flexible and the amount threshold is low. Various financial services can be handled through the online APP, which can save a lot of time. There are also many product types and projects for users to choose from, and financial management time is relatively flexible. Users can consume and withdraw cash through the Internet anytime and anywhere, which invisibly accelerates the transformation of traditional banking service content and methods. Only in this way can we better adapt to the development requirements of the times.
(3) Accelerate the development and transformation of the traditional banking industry
The rapid rise of Internet finance has accelerated interest rate liberalization and financial disintermediation, and has also compressed the profit margins of the traditional banking industry. Faced with such strong pressure to survive, the traditional banking industry must accelerate its transformation and upgrading. On the one hand, the traditional banking industry can consider cooperating with Internet finance to achieve common development. For example, many banks are currently tied to e-commerce operating platforms. On the other hand, the traditional banking industry must also strengthen the learning and application of Internet financial technology. , actively draw on the thinking model and operating system of Internet finance, take the essence and discard the dross, and combine it with its own original operating model to form a new development model and achieve upgrading and transformation.
2. Effective countermeasures for traditional banking industry to deal with Internet finance
(1) Change development ideas and concepts
Entering the information age, Internet finance has risen rapidly. If traditional banks want to achieve long-term and stable development, they must accelerate innovation and change their development concepts. At the same time, it is necessary to reform the financial system, establish innovative development concepts and competition awareness, and actively respond to Internet finance. brought some challenges and impacts. First of all, the traditional banking industry must recognize the weaknesses and advantages of its own development, and at the same time clearly understand the characteristics of market competition in the Internet financial era. Second, customer experience and needs must be understood.
At the same time, we must also have a grasp of our financial environment and status. Finally, we need to learn the development experience and operating procedures of Internet finance, especially in terms of information communication and customer acquisition, and combine our own development advantages to understand the development concept. Innovative and reformed financial products are promoted online to meet the personalized and diversified needs of different users. In short, only by changing the development trajectory and moving towards informatization can the traditional banking industry weaken the disadvantages and impacts brought by Internet finance and achieve long-term stable development goals.
(2) Accelerate the expansion of financial services
In order to better cope with the challenges and impacts brought by Internet finance, traditional banks must also accelerate business expansion based on their own actual development characteristics. First, it is to promote the development of offline business in the online direction. Offline is one of the main advantages of the development of the traditional banking industry, while online is the outstanding advantage of Internet finance. To accelerate the development of the traditional banking industry, we must strengthen the development of Internet financial services and realize the interconnection of offline and online channels so that various offline businesses can also be handled online. In order to achieve the above goals, traditional banks can also make full use of Internet platforms to change the past situation of single offline business processing.
At the same time, various offline products can be sold online, various loan businesses can be handled online, and a comprehensive financial service platform has been established. Online business products should be developed around the financial development needs of small and medium-sized enterprises. Secondly, accelerate the intelligent development of offline outlets to attract customers. At the same time, various intelligent trading devices should be actively used to improve the intelligent system and enhance user experience. With the help of Internet technology, the O2O financial service model has been established.
In addition, traditional banks can also establish connections and cooperation with coffee shops, shopping malls, stores, etc. Taking Minsheng Bank as an example, in order to expand its financial business, Minsheng Bank began to cooperate with coffee shops, China Merchants Bank, etc. and residential complexes. Integrate and promote comprehensive business. Finally, to establish direct selling banks, traditional banks should expand service channels such as mobile banking and online banking to provide users with more convenient and high-quality financial services.
At the same time, the development of face-to-face remote support technology can greatly simplify the service process. When users encounter difficult problems, remote support technology can provide them with real-time help. In addition, in order to meet the personalized and diverse needs of users, traditional banks must provide users with professional and standardized financial products, improve mobile payment and Internet payment services, and focus on promoting flexible, transparent, convenient and safe financial products.
(3) Strengthen resource allocation
Entering the era of big data and facing the impact of Internet finance, the traditional banking industry must strengthen the application of big data technology and comprehensively grasp the development trends of the financial industry based on information technology. After decades of development, many large domestic banks have accumulated a large amount of information and data. By systematically analyzing users' financial behaviors, habits, and preferences, financial products can be better developed.
At the same time, the traditional banking industry must also focus on businesses that it is relatively good at and familiar with, such as payment settlement, small loans, etc., to provide users with a unique experience. With its high reliability and security as its core, it has a strong impact on the financial industry. Products are promoted. The advantages of traditional banks in this regard are incomparable to Internet finance, which has an imperfect system and relatively late development. By strengthening resource integration and data analysis, more users can be attracted to participate. In addition, the traditional banking industry must build a database based on its own data accumulation and use Internet platforms to publish and collect information to promote its own business operations and accelerate the spread of financial products.
(4) Clear market positioning
The rise of Internet finance has caused many customers who originally favored traditional banks to gradually begin to pay attention to Internet finance. Facing this new situation, traditional banks must clarify their market positioning, consolidate their advantages, and clarify their future. The direction of development is to refine the customer base, analyze the specific business needs of customers, and provide more flexible and experiential financial services for the collective.
In addition, traditional banks must also focus on maintaining a good reputation and actively develop e-commerce platforms. Taking Bank of China as an example, it has established a “smart shopping” e-commerce platform. Users can log in through self-service terminals and use points for shopping. Compared with Internet e-commerce platforms, traditional bank e-commerce platforms have unique advantages and can provide users with more convenient and faster services, and their market competitiveness will also be enhanced.
in conclusion
To sum up, this article mainly focuses on the impact and influence of Internet finance on the traditional banking industry. From a certain perspective, the rise of Internet finance is both a challenge and an opportunity for the traditional banking industry. On the one hand, it improves the survival and service methods of the traditional banking industry and accelerates the development and transformation of the traditional banking industry. On the other hand, the traditional banking industry can actively use the development models and concepts of Internet finance to expand its own business and explore new development paths to better adapt to the development requirements of the new era. At the same time, the traditional banking industry must actively seek in-depth cooperation with Internet finance so that the two can no longer compete but can cooperate to truly achieve complementary advantages and mutual assistance and win-win results.
标签： #Finance #Banking #Internet Finance #Internet Banking #Traditional Finance
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