Research on the Marketing Strategy of Banking and Finance Business Given Big Data Technology

Abstract

Individuals’ consumption patterns and financial demands are changing significantly as a result of the quick advancement of modern information technology and the integration of financial technology into everyday life, which has negative effects on and presents challenges for banks’ traditional retail operations. The competition among Chinese commercial banks in the retail sector is getting more and more intense due to the country’s rapid economic expansion and increase in household wealth. In order to improve its core competitiveness, maximise its retail business marketing strategy, and investigate a transformation path that is consistent with its own retail business marketing, Bank F must actively use financial technology innovation. In addition to the epidemic impacting the global economic recovery, the domestic economy is currently going through a transition and expedited structural adjustment, which raises credit risk and increases competitive pressure. A drop in the intermediate business income of the banking industry and a consistent decline in nett profit growth are the results of the financial market reform and the quick expansion of Internet finance, which have caused substantial changes in the market environment. Due to the fact that rural commercial banks have changed their course to aggressively promote inclusive finance and develop retail lending, how to optimise and innovate the marketing strategy of the retail lending business based on the Internet and the use of big data has emerged as a crucial concern for rural commercial banks.