Several problems in the development of online banking in China
In the process of bank networking, the functions of credit intermediary, payment intermediary and money creation of banks have not disappeared, but are facing brand-new challenges. The terminals of online banking may flood into any field in the future. Its connection with the economy will expand, and the development and popularization of online banking will bring a revolution to the financial industry and make it look brand-new. However, because online banking is still in its infancy in China, there are many problems to be solved in its development: a social credit environment restricts the development of online banking.
China's social credit system has not yet been established, and online banks lack the proper credit environment. China's credit system is underdeveloped, and many enterprises are reluctant to adopt the credit settlement transaction method proposed by customers, but degenerate and develop in more primitive ways such as cash transaction and barter. The Internet is completely open, loosely managed and unprotected. Online transactions and payments do not meet, and the authenticity of the transaction is not easy to test and verify. The high demand for social credit forces China to establish and improve the social credit system as soon as possible to support the healthy development of the network economy. Secondly, in the network economy, the speed of information acquisition and the optimal allocation of information are not high, and the networking level of electronic payment related departments such as customs, taxation and transportation fails to match the networking of banks, which restricts the development of online banking business.
Second, laws and regulations are out of touch with actual needs.
Online banking is still a part of economic and financial activities, which cannot be separated from the regulation and protection of laws. It is difficult for the current laws to regulate the development of online banking and protect consumers' rights and interests. As long as there is an error in one link of online fund transfer, the funds will not be paid normally, and legal disputes will occur, which requires legal adjustment.
Third, security issues are very prominent.
The confidentiality, authenticity, integrity and non-repudiation of relevant information are the most critical factors in trading through the Internet. When there are no laws and regulations in China to deal with these cyber crimes that do not cause harm or are less harmful, how to ensure the security of transactions and keep secrets for individuals has become the most urgent problem to be solved in the development of online banking. At present, although commercial banks have taken certain security measures and formulated corresponding regulations, there are widespread phenomena of lax management in the implementation, such as password storage and regular replacement, security management of main computer room, disaster backup, virus prevention and so on.
Fourth, the financial network construction lacks overall planning.
As far as the basic environment of domestic online banking business is concerned, due to the backward infrastructure, some customers still have to adopt the way of "online ordering and offline payment" when conducting online transactions. Although the four major commercial banks of industry, agriculture, China and China have established their own websites, the framework and service content of the websites are still far from the requirements of e-commerce and network economy. The investment in capital and personnel is seriously insufficient, and the combination between banks and high-tech industries is not close, which leads to the small scale, low technical level and small coverage of the online financial market, which basically stays in the computerization of traditional business. At the same time, the network construction of commercial banks and even the whole financial industry lacks overall planning, and the software and hardware used lack unified standards, let alone a complete and comprehensive online information system.
Fifth, the lag of supervision consciousness and existing supervision means
The existing supervision of commercial banks by the central bank is mainly aimed at traditional banks, and the key point is to increase or decrease the index of banking institutions' outlets, check and audit business vouchers and statements. In the era of online banking, paperless accounting revenue and expenditure, abstract processing flow, virtualization of institutional outlets and substantial increase in business content have greatly reduced the efficiency, quality and radiation of existing supervision methods, and the authenticity, comprehensiveness and authority of supervision information are facing severe challenges, which will lead to major changes in banking service supervision based on the Internet.
Countermeasures and suggestions to solve existing problems
1. Establish a special online banking access system.
The access of online banking should be strict in registration system, security work and geographical definition, but loose in access standards and business scope, so as to establish a set of access system different from that of European and American countries with advantages in network development. The market access of China's online banks focuses on encouraging China's online banks to seize opportunities and seize the market as soon as possible, so that supervision can not only control the systemic risks of the whole industry, but also improve the overall competitiveness of domestic banks. Strictly review and supervise the qualifications of employees of e-commerce banks, strengthen the audit of internal control system of e-commerce banks, and ensure the safe operation of financial electronic systems. The central bank should focus on auditing the internal control system and relevant regulations of banks engaged in e-commerce such as risk prevention and restraint function, monitoring and recovery function, security control technology and firewall technology.
Second, accelerate the construction of relevant laws.
The development of online banking law is not isolated, but related to a series of relevant legal norms, mainly including tax collection and management law, contract law, international tax law, e-commerce legislation, criminal law, procedural law, negotiable instruments law, securities law, commercial banking law, consumer rights protection law, anti-unfair competition law and so on. The above-mentioned legal norms have played a good role in regulating the development of traditional commercial banks in China, but they are dwarfed by the development of emerging business of online banking, and it is difficult to play a good role in regulating. For example, the provisions on e-commerce in the tax collection and management law are almost zero, especially this online payment method has not made good provisions on tax issues, and it is necessary to do a good job in amending and perfecting the law; The provisions of the Contract Law on the way of contract formation, contract signing and contract scope need to be further improved; The lag of international taxation and e-commerce legislation is not conducive to the development of online banking in its support system, which requires a lot of legislative work; Money-laundering crimes frequently occur in online banking business, which must be improved and standardized in order to make online banking laws play a real normative role; The existing provisions in the Procedural Law, such as the standard of evidence, are extremely difficult to obtain evidence for online banking disputes, which is not conducive to its development. We must take measures to adapt to its development trend.
The third is to increase investment in the infrastructure construction of bank information systems.
The development of bank networking cannot be achieved in one step, and there is still a long way to go to truly realize online banking. At present, western developed countries are further increasing their investment in network information systems. It is predicted that in the future, American financial investment in information technology will grow at a high speed of 7.7% per year. In view of the gap between China's banking networking level and developed countries, it is necessary to strengthen the infrastructure of banking networking information system. Only by building the information superhighway of banks can we make full use of the knowledge resources of banks and lay a solid foundation for the future development of online banking. The entry threshold of online banking is very small, and the differentiation of financial services provided is also very small. Therefore, the banking industry must attach importance to the role of marketing and establish its own service brand in order to get more customers. Customers often encounter technical obstacles and service obstacles when applying for online banking services, which leads to customers giving up their applications or using them. Therefore, the online banking service should establish a good after-sales service system.
4. Coordination between the government and commercial banks.
On June 29th, 2000, China Financial Certification Center held the opening ceremony, which laid a good foundation for establishing a rational, standardized and unified national security certification system. China Financial Certification Center is responsible for providing certification services for various certification needs of the financial industry, including e-commerce, online banking, payment systems, management information systems, etc. To provide a sound trading basis for all parties involved in online transactions and establish a mutual trust mechanism. However, at present, in addition to issuing digital certificates, major banks have also built their own certification centers to issue certificates to customers. However, the digital certificates issued by banks are not universal, which leads to the need for the same user to have multiple digital certificates and pay annual fees for multiple digital certificates when opening accounts in different online banking, which makes users flinch.
Fifth, vigorously build the supervision information network of the central bank.
With the wide application of security technology and authentication mechanism, the development of internet financial services has undoubtedly brought new topics to the supervision and financial legislation of the central bank. The old supervision methods and procedures are difficult to apply to new financial business, and the current financial legislation also hinders or restricts the development of new financial business. With the reform of the business model and internal management mechanism of commercial banks, the supervision model of the central bank will also change.
The domestic financial industry will be fully open to foreign banks. With its abundant capital, advanced management methods, new financial products, efficient application of information technology and excellent service quality, the online banking of foreign banks will surely compete fiercely with all domestic financial institutions. You may delay, but time will not. China's banking industry should assess the situation, speed up the construction of online banking in China, and realize the extraordinary development of online business.