Digital Transformation of Commercial Banks under the Impact of the Epidemic

Abstract

Commercial banks are about to undergo a digital transformation, which will give Chinese commercial banks a competitive edge. This transformation will take place in light of the unfavorable global economic situation following the epidemic and the rapid development of new generation information technology. based on the three fundamental ideas of competitive thinking, client focus, and transformation direction Our systematic analysis and summary of the real-world experience of the digital transformation of foreign commercial banks is based on the three fundamental ideas of customer orientation, competitive thinking, and transformation direction. We then suggest the fundamental concepts and approaches for the digital transformation of commercial banks in China. The fundamental concepts and defenses against the digital revolution of Chinese commercial banks are put out.