The impact of Internet financial development on commercial banks

Channel transformation and business innovation.

1. Internet finance provides new financial service channels, such as online banking, mobile payment, third-party payment platforms, etc., changing the traditional offline banking transaction model.

2. The emergence of Internet finance has promoted innovation in financial services. Commercial banks need to launch more convenient and efficient financial products and services based on market demand and technological development, such as online loans, virtual credit cards, electronic payments, etc., to enhance competitiveness.

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