Bank transformation refers to the reform and upgrading of its own business model, organizational structure, product structure and business model in order to adapt to the development of market competition and customer demand and respond to the changes in market and investment environment. Transformation involves digital transformation, service upgrading, risk prevention and control, personnel training and many other aspects. Bank transformation is an important strategic decision and the only way for banks to survive and develop.

The purpose of bank transformation is to improve operating efficiency, enhance market competitiveness, expand customer base, meet customers' changing needs, provide financial services closer to customers, and create higher income and value. The purpose of bank transformation is to conform to the development trend of financial innovation, actively adapt to scientific and technological progress and market changes, combine scientific and technological innovation with financial innovation, improve service level, reduce costs, increase profits and promote the sustainable development of banks.

There are many ways of bank transformation, including digital transformation, business expansion, risk prevention and control, financial innovation and so on. Digital transformation is one of the most important ways, including building an intelligent and information-based banking system, implementing intelligent services and improving customer experience; Business expansion includes cultivating new business growth points, expanding financial innovation fields and strengthening industrial chain cooperation; Risk prevention and control requires banks to establish a sound risk management system to effectively prevent and control risks; Financial innovation is an important direction of bank transformation and innovation, which follows the market rules and changes the business model and management model. The transformation of banks requires comprehensive use of various ways and continuous exploration and innovation, so as to continuously enhance the core competitiveness of banks and win the trust of the market and customers.