Research Into The Development Of Retail Business Of Commercial Banks And The Service Innovation

In recent years,with the increasing pressure of competition in the banking industry and the rise of Internet finance,under the new situation of economic cycle changes,factors such as marketization of interest rates have had a major impact on the traditional profit model of China's commercial banks.Meanwhile,financial regulatory requirements have become more and more strict.The severe market environment has prompted commercial banks to rethink their development,which has prompted commercial banks to transform their businesses.Since retail businesses have diversified risks,low defect rate,and relatively stable customer scale,it gradually becomes an important profit growth point for commercial banks and an important way for business transformation.In the overall economic situation in which the domestic economy is tending to transform,and the industrial structure is optimized and upgraded,commercial banks must seize the opportunity and be brave to break through,which requires attention to the development of retail business.The retail business of commercial banks is an important part of its business.Currently,retail businesses under a relatively mature stage of development.The traditional business model of investing in outlets,scale,and infrastructure no longer has competitive advantages and the traditional retail business of commercial banks is constantly suffering new impacts.The retail business faces several problems,such as homogenization of products and services,weak growth of traditional distribution channels,and insufficient innovation.How to support the Internet,big data,cloud computing,and other financial technology ways to build a multi-channel business model of the Internet platform to improve customer experience and meet the different needs of customers will become the growth point of the retail business of various commercial banks.This article through analysis and find out these problems opens up service innovation paths from the aspects of business concept innovation,product innovation,management innovation,etc.,and proposes service innovation paths that enhance business capabilities.Analyze the current status and trends of commercial bank retail business development by using customer relationship management,customer value,financial innovation,and other theories to analyze the main problems in commercial bank retail business operations.Analyze the causes of problems,from service concepts,services model,comprehensive linkage marketing channels,and those who improve the service capabilities of employees started to explore the service innovation path in the development of retail business of commercial banks.Taking Ping An Bank as an example to carry out case analysis,aiming at the analysis of the current situation of Ping An Bank's retail business operation and management under the new situation.Through finding problems in the development of Ping An Bank's retail business,explore effective service innovation paths to promote the rapid development of commercial bank's retail business.