Study On The Financial Product Innovation Model Of Commercial Bank

Commercial bank, actively explored ongoing financial innovation in thedevelopment process, particularly in the 1990s, financial innovation has achievedsignificant results. Commercial bank developed for a short time with the institutional,technical and macroeconomic environment constraints, so the comparison with thedeveloped countries and regions are still large gaps, there are many problems ininnovation, most innovative products were mainly "absorb innovative" and originalinnovation is very little, it is not in accordance with our actual conditions and marketconditions , so it brought a range of issues, such as lower benefit, greater risk etc. Thishas direct impact on the commercial banks to enhance competitiveness. Financialinnovation in the paper is on the basis of realistic needs and use scientific means. Thepaper raised financial product innovation model – "customer-oriented productinnovation model", the producers and consumers together as a part of innovativeactivities, from the economic point of view to consider innovative banking products.There is lack of research on commercial bank product innovation model, sostudying on the related issues in the new market conditions is very important. Thepaper consists of six parts.The first part : Introduction. Introduced the proposal, the purpose and thesignificance of the paper, as well as the status of routes and methods.The second part : The analysis of foreign commercial banks and innovation from.Introduced foreign banks innovations and its characteristics.The third Part: The new model of our commercial banks. Introduced"customer-oriented product innovation model" building principles, content andfeatures.The fourth part : the external environment and the internal conditions analysis ofthe commercial banking products implement innovative model. Detailedimplementation of innovative models of the required external conditions.The fifth part: The new model application in the Agricultural Bank of China.analyzed the use of the innovative model .The sixth part: Conclusions. Basic conclusions of the paper, innovation points andnoted the need for further research directions.