Research On Development Strategy Of Personal Financing Business Of ZS Bank

Personal finance business is one of the most important business for the growth of bank income in China.At present,with the improvement of people’s living standards,the demand of personal financial services market is growing.ZS Bank is located in Hangzhou,the place where e-commerce develops in China.Established in 2004 and listed in Hong Kong in 2016,it mainly serves the Yangtze River Delta,the Pearl River Delta and the Yangtze River Economic Zone.So far,ZS Bank has opened 224 branches with total assets of 1.63 trillion yuan,which has become one of the most important financial platforms in Zhejiang Province.In terms of personal financial services,ZS Bank has launched a number of personal financial products,and strived to build a personal financial services platform,won the praise and popularity of the majority of users.Personal finance business has also become one of the important business for ZS bank to absorb deposits and increase profits.It is also an important platform for customers to invest.However,in reality,with the development of Internet finance,especially the Internet finance represented by Ant Golden Clothes and Micro-Commerce Bank,ZS Bank’s personal finance business has been greatly impacted.The headquarters of Ant Golden Garment is also located in Hangzhou.Its personal financial products and business are increasingly diversified.Most of the customers are small and medium-sized enterprises and retail investors,which absorb a lot of consumer groups.This has brought great pressure to the city commercial banks represented by ZS Bank.In order to win the market of personal finance business,ZS Bank has also promoted many reforms,starting with Internet finance,reforming investment time,innovating investment channels,optimizing financial content and developing financial APP.To some extent,these measures have promoted the development of personal financial management business of ZS Bank,but also changed the traditional investment and financial management business.At the same time,the financial management business provided by banks has gradually exposed many shortcomings in the long-term practice process.For example,a series of problems still exist,such as unclear market positioning,lack of customer segmentation,lack of financial planning,low quality of management services,no obvious competitive advantage of peers,rigid innovation and reform.Based on these problems,this paper makes a thorough exposition of ZS Bank’s personalfinancial management business by using the relevant theoretical knowledge of business administration and financial management.Firstly,the article elaborates the reasons and value of the research on the development of personal financial services of ZS Bank.Then,by consulting the current domestic and foreign research status,it summarizes the personal financial services and personal financial products of banks,and draws the deficiencies of the current research and the focus of this paper.At the same time,it also introduces the technical route,method and content of this paper.Secondly,it elaborates the concept and related theory of personal financial management business of banks.On the basis of elaborating the theory,it introduces the actual development status of personal financial management business of ZS Bank at the present stage,and explores the problems and reasons faced by personal financial management business of ZS Bank in the actual development process thoroughly and comprehensively.Through the analysis and development,the development of personal finance business of ZS Bank is facing the problems of low energy efficiency of business channels,serious product homogeneity,low operation efficiency caused by unreasonable process design,and lack of and serious loss of high-end customers.Further exploring the reasons for the development is due to insufficient product innovation ability,imperfect marketing mechanism,imperfect customer relationship management and wind.Insufficient insurance control system and lack of professional operation team.Finally,the paper puts forward five Optimization Countermeasures for the development of personal financial management business of ZS Bank: firstly,in the optimization of financial products,we should strengthen the research and innovation of financial products to ensure that the products in the financial market can continue to bring forth new ones;secondly,we should strengthen the construction of brand awareness and implement fine brand management;secondly,we should improve the marketing machine.In terms of system,we should attach importance to the marketing generality of traditional marketing outlets,develop online marketing with e-commerce thinking,build professional service outlets of financial products,and strengthen the function construction of marketing departments.Thirdly,in terms of strengthening customer relationship management,we should pay attention to the quality of customer information,implement diversified management methods for different customers,and formulate a modern information feedback system;and then,we should continuously improve the quality of customer relationship management.In the risk management ofchemical financial management business,we should cultivate a comprehensive and correct management culture concept,improve the internal control system of banks,build a comprehensive risk management system,and improve the information and data support needed for risk control.Finally,in terms of strengthening professional team building,we should strengthen team building mainly from two aspects: financial management specialty and marketing specialty.It is hoped that this study can promote the further healthy and sustainable development of personal financial management business of ZS Bank.