The Impact of Digitization on Bank Operation and Regulation

Abstract

At present, the digital transformation of global commercial banks is basically at the same level, and gradually expands from the focus on strategy formulation, cultural atmosphere, online business and electronic channels in the initial stage of digital transformation to various fields such as organizational structure, business channels, marketing models, risk prevention and control. Its transformation path mainly includes the following points: change the concept; Personnel transformation; The transition from a carb to an account base; The shift from the branch economy to open banking and the transformation of business models. From a global perspective, digital transformation still faces multiple challenges, mainly in the lack of talents, insufficient capital investment, and unsuitable corporate culture. From the domestic point of view, China's banking industry is still facing a series of practical problems and challenges, for example, the system is closed and isolated, and it is difficult to adapt to changes in the situation; The data foundation is weak, and the data island phenomenon is more serious under the analysis ability; There is a serious shortage of professional talents. Based on this, China's banking industry should establish a digital management system; Build a big data security defense mechanism; Introducing FinTech talent; Strengthen data security management capabilities to protect customer privacy; Implement a real-name account system.