Development Strategies of Traditional Banking in Internet Finance Era

Nowadays, E-commerce has penetrated into every corner of people's lives, and Internet has become a new lifestyle. The rapid development of Internet finance is profoundly challenging the traditional banking. Compared to the traditional banking business, Internet finance has advantages of more transparency, lower intermediate costs, greater participation, more efficient trading. Its third-party payment platform, credit platform and financing channel are changing the whole business model. For traditional banks, they must take some effective countermeasures to deal with this situation.