Research On Current Problems And Developing Strategies Of Personal Finance Service In China’s Commercial Banks

The personal finance service is an important composition of the modern commercial banking, and an important approach for the residents to manage their wealth. Besides, it plays an important role in helping the individuals to keep their property, accumulate the wealth, avoid the heritage dispute, and properly manage the heritage. In the great market demand and opportunity, various financial institutions including the banks make great effort to develop their own potential and advantages, enlarge the science and technology input, establish the personal financial management platform, create their own financial management brand, proceed with the innovation on the product design, brand establishment, and personalized service, actively occupy the personal financing market, and make the market competition more serious.With the globalization of the economic development, the foreign banks have joined in Chinese markets in succession. They have rich experience in managing the personal finance service. By contrast, as the personal finance service of our domestic commercial banks started late and developed in short term, there is great gap with the foreign banks. It does not match with our personal finance market demands. As one of the important earnings resource for the commercial bank, the existing problems of the personal finance service seriously hinders the promotion of the profit of the commercial banks. Therefore, how to better promote the development of the personal finance service becomes an important task for our domestic financial industry.This paper takes the financial theory as the guidance and the personal finance service as of our domestic commercial banks as the research object. Through the comparative analysis on the personal finance service of the domestic and foreign commercial banks, it finds out that our commercial banks have the following problems in the personal finance service development, such as insufficient market development strength, underdeveloped finance concept of the public, low quality of the customer groups, etc. Meanwhile, the commercial bank lacks versatile talents on the personal finance service, which restricts the promotion of the product innovation.This paper points out that, to develop our domestic personal finance service, it is necessary to suit the remedy to the case, start from the aspects of strengthening the product development, innovative product form, improve the product innovation capability, and speed up the transformation to the asset management, and strengthen the introduction of the versatile talents to make up for the talent gap. Besides, it is also necessary to break the industry barriers and strengthen the police support.