Research On Personal Financial Services In Chinese Commercial Banks

After entering the 21st century,China's commercial banks began to flourish personal financial business development. On the one hand, commercial banks'personal financial services can meet resident's needs of preserving and increasing the value of assets,on the other hand, the services can increase intermediate business income and the profits of banks. It can change the mode of growth; enhance the competitiveness of commercial banks,so as to better face the foreign capital banks to the challenge. However,compared with foreign banks, personal financing in China is a novelty,although each bank has introduced new financial management. The product has obvious homogeneity,and unable to meet the financial needs of the residents. Faced with this reality,how to develop China's personal finance business,and design personalized products and services is to be solved.Personal financial services are the business provided by the commercial banks. They provide tailored package of financial services for individuals or families,so as to resist risks and preserve and increase the value of assets. It is value-added,personalized,comprehensive, specialized,electronic networks and so on. Since the 1990s,China's commercial banks have offered various personal finance businesses,the size of the market gradually expanding. However,compared with the developed countries and region,commercial banks personal financial business still have problems in the targeting market position,product and service innovation,training of the client manager. In order to promote personal finance business, China's commercial banks should learn from developed countries through the development of personal financial business's strategic objectives,namely,establishing the "customer-centric" business philosophy. On the basis of customer segmentation,China's commercial banks will focus on the mid-range customer development and maintenance its different services provided in the course of banks'financial brand. At the same time,in order to enhance the quality of financial management,establishing network service platform,improving commercial bank's customer relationship management system and customer service representative are also very important.