Analysis of the Impact of The Development of Internet Finance on Chinese Commercial Banks and Countermeasures

Abstract

Along with the continuous progress and development of information technology, it has played an important role in promoting continuous innovation and change in various industries. Among them, Internet finance, which is supported by Internet platform and Internet technology, has been greatly developed. Internet finance, which is based on Internet information technology, not only has the advantages of Internet finance, based on Internet information technology, not only has the characteristics of rapidity and speed of the Internet, but also its ever-increasing credibility brings great challenges and threats to traditional finance. In order to gain advantages in this fierce financial market competition, finance should be brave enough to face the challenges brought by Internet finance and take active and effective measures to deal with them. This paper is based on a review of Internet finance. Based on this, this paper analyzes the operation mode of Internet finance and proposes a response to the impact of Internet finance on traditional finance using SWOT analysis. In this paper, we analyze the operation model of Internet finance and propose strategies to cope with the impact of Internet finance on traditional finance by using SWOT analysis.