Study On Innovation Of Personal Financing Product For Commercial Banks In China

With the rapid development of economy, the fast increase of income and discretionary assets, people demand for personal finance is increasingly strong. Due to domestic commercial banks limited range of financial products, the lever is low, so we need innovation to meet the people's need. At the same time, in the pressure of financial disintermediation, the personal financial services market with its huge profits, attracting commercial bank, also to attract foreign banks to this market beachhead. Management in Commercial Banks, people more and more concerned product innovation, the development of new products become key point in profit growth of commercial banks. However, the immaturity of the market itself and limited by law and policy in commercial banks, personal financial product innovation has always been relatively weak, it is difficult to compete with foreign banks. Through analyzing product innovation in China Merchants Bank, and the problem in personal financial product innovation, learning about developed theory of product innovation, proposing sound recommendations for personal financial product innovation in china, on this base we look forward future vision of product innovation, making reference and path selection for the commercial banks.On the base of defining financial innovation, banking personal financial product innovation, through financial innovation theory and the life cycle theory of analysis, proposing motivation and methods of personal financial product innovation in domestic commercial banks. Put the theoretical basis for developing banking personal financial product innovation.2006, after the full liberalization of China's banking sector, all kinds of commercial banks from developed countries seize Chinese financial market, with its advanced experience and innovation, they always have been the subject of product innovation. Chose most representative banks:HSBC, Bank of East Asia, Hang Seng Bank and ABN, through analyzing their personal financial products and innovation, we get four areas of excessive inspiration:focusing on the customer relationship management; the introduction of a modular approach to personal financial product innovation; building a variety of integrated financial products system, preventing personal financial product over innovation.Use the method of case study, analyzing personal financial products in China Merchants Bank, combining with the actual situation in China, we found some problems in Personal Finance Product Innovation:innovation is not high, eparate operation mode control, risk control and technological development lags behind. On this base, propose concrete measures and prospects for promoting personal financial product innovation and prospecting for future product innovation, providing basis and reference for personal financial management.