Innovation Management Of China Guangfa Bank Of Personal Financial Products

Personal finance business has the advantages of low risks,big batch,wide range of business and stable income.As an important business of commercial bank,personal finance brings a new profit increasing point.However,there are still some problems in the development of personal finance products in Guangfa Bank.This article will focus on China Guangfa Bank personal financial products innovation in order to solve its problems in the process of innovation management of personal finance products.This paper provides a theoretical research of personal financial products innovation by literature review.Then it analyzes the situation of financial products innovation at China Guangfa Bank and finds insufficiency of product innovation capacity,lack of product-related market operations capability as well as lower level of product risk control and the like.What's more,the paper explains the reasons for those problems,causes include lacking of innovation management structure,financial personnels and risk control.Based on the literature review and status analysis of the bank,this paper analyzes the environmental factors of financial product innovation at Harbin Branch,China Guangfa Bank with PEST theory,and applies the method of SWOT analysis to identify the strength,weakness,opportunity and threat.This paper also provides the strategies for product innovation development,such as strengthening team building personal finance,training specialized product innovation personnel,and strengthening product risk cognition of the bank.