Will online merchant banks replace traditional banks?

With the joining of online merchant banks, the banking industry in China will be reshuffled in the future, and the wave of competition will become more and more fierce. However, online merchant banks will not replace traditional banks in the future.

First, online merchant banks are changing people's payment methods and financial management methods with new technologies and new thinking, but many traditional commercial banks are also actively taking over. For example, Wenzhou Bank, a few days ago, realized the lC card subway flash payment to seize the market.

Second, compared with online merchant banks, traditional commercial banks have deeper physical foundation, more standardized management mode and more customer groups. As long as they speed up technological innovation and break the conservative thinking, they can also provide customers with more convenient, faster and safer payment methods. For example, in Bank of Ningbo, innovation has always been ahead.

Third, online merchant banks and traditional commercial banks should be cooperative. In the future, they will learn from each other's strong points to make China's financial industry develop more orderly and healthily and integrate with international finance as soon as possible, which is what the country most wants to see.

Of course, natural selection will definitely eliminate those banks that are unwilling to change and innovate, whether you are an online merchant bank or a traditional bank, which is the inevitable result of the reform of the market economic system.