Comparative Study Of Personal Financial Service Between Local And Foreign Banks

With the globalization of financial service, information technology comes into wide use, more and more bank facilities are merged. Due to the releasing of financial regulations and rapid increasing of personal incoming and wealth, the personal financial service grew up rapidly in western countries. The commercial banks take personal financial service as a strategic emphasis and fasten the development of it. So personal financial service is now becoming main source of bank profits. In recent years, personal financial service in our country is also developing quickly. But for the influence of local market environment and restriction of low level banking technology, the development of local personal financial service is obviously much slower than that in foreign countries. Take such background into account, the comparative study of local and foreign personal financial service seems especially essential. The writer attempts to start with the compare of personal financial service in local and foreign banks. The composition makes out the advantages of foreign banks in this field while indicating the weakness of local banks. Under reference of experience of foreign banks, the writer brings forward some strategy and measure for the development of personal financial service in our country.This article is made up of five parts. The first part elaborates on personal financial service and the background of concerned theories . The Second part analyze on current conditions and weaknesses of PFS in local banks. The third part has a review on history of personal financial service in foreign banks (especially American banks), analyze their work processing and business characteristic, so to feature tendency of personal financial service in the world. In the fourth part, writer compares the development of personal financial service in local and foreign banks to figure out the advantages of them and weakness of ours. Furthermore, in the fifth section, the writer probes into countermeasures for our local banks to make up the difference.