Research On The Private Banking Product System Innovation Of China's Commercial Banks

In the early 16th century,private banking first appeared in Switzerland.And the earliest countries that private banking contacted were Europe and the United States.Up to now,more than 400 years have passed.In the past few years,C hina has been relatively new to private banking because it has never touched it.In recent years,the phenomenon changes,private banking has become the key point of the development of the banking business in China.The reason leading to change this phenomenon is that China Citic Bank,Bank of China,China Merchants Bank and other Chinese financial institutions are in the rapid development of private banking,as well as many foreign private banks in China.As the top money incomes,private banking clients request for private banking products with higher quality.They pay attention to the liquid product yields at the same time they pay more attention to the product schedule,the investment time limit,the design patterns,security,etc..Compared with others,they consider more systematically and comprehensively in the field of private banking products.Based on the above main reasons,GD bank is selected as an example in this paper.Firstly,the background of the topic and the significance of the research are described.At the same time,relevant researches made by scholars at home and abroad are expounded,and then the difficulties,innovations and shortcomings of the paper are put forward.Then,the specific introduction of private banking business mainly focuses on the concept of private banking,the characteristics of private banking customers and the domestic and foreign private banking product system.Taking GD private banks as an example,the author did an overall analysis of the development of private banks at this stage of GD private bank and conducted questionnaire investigation of the current users of GD private banks to conclude the defects of the existing product system and more deeply understand what is more cared about by GD private banking users when they choose private banking products of the present stage so that we can solve them point to point.In addition,the SWOT model of GD private banking products and services is analyzed.Finally,GD product system innovation strategy is proposed from four aspects of customer segmentation,personalized product configuration,non-financial product innovation and financial product innovation case analysis.It is hoped to provide valuable reference for the overall development direction of GD private banking business and the innovation and improvement of private banking products.