Research On The Development Strategy Of Dongying Bank's Retail Business

With China's economy entering a new normal,people have accumulated a lot of wealth,the consumption level is increasing day by day,and individual consumer demand is increasingly diversified,which promotes the continuous development of retail financial services of commercial Banks.As a financial service that people are widely involved every day,bank retail business has gradually become the driving force for the development of commercial banks and an important source of profits for commercial banks.At the same time,with the rapid development and wide application of internet technology,a series of high-tech products,like cloud data,artificial intelligence(AI),block chain,mobile Internet and big data,are becoming the main technology drives of financial science.Furthermore,because of those wide application,people gradually realize that "Internet + Finance" is a good innovation and practice for commercial banks to develop their retail financial services.Therefore,commercial banks need to actively study the relevant strategies of retail business development,so as to fully expand the profit channel,and also better cope with the competition pressure from all aspects.As a provincial city commercial bank,DONGYING BANK has not only realized the rapid growth of asset scale in recent years,but also achieved the rapid development of retail business.Through the analysis of the relevant data of retail business in DONGYING BANK in recent years,also combine with domestic and foreign bank retail business development course,development trend and the related research results at home and abroad,this paper develops a summarization about the current development status and existing problems of retail business of DONGYING BANK.A series of problems are reflected in the summarization,such as inaccurate market position,unreasonable business structure,insufficient support from the superior departments,defective network construction and inadequate staffing level,which resulted in the imbalance of retail business development of DONGYING BANK.In order to solve the problems listed above,guided by Strategic management theory,Financial innovation theory,Pareto's low and SWOT analysis,a development strategy of DONGYING BANK retail business is proposed,that is,based on the concept of "big retail bank",the software and hardware facilities should be improved,the product system and business structure should be continuously optimized,the strategic positioning should be made clear,and the supporting mechanism should be improved,so as to improve the development efficiency and ultimately enhance the competitiveness of DONGYING BANK's retail business.Then a step-by-step implementation plan is made.Furthermore,safeguard measures are presented to promote the development of bank retail business,one is to strengthen the construction of talent team,not only to do a good job of internal staff ability potentials,but also to do a good job of external talent introduction;Second,inject vitality into fintech,expand customer channels,accelerate product introduction,reshape business processes,and strengthen cross-border cooperation;The third is to build a specialized head office and promote the "big divisional system" reform and agile transformation of retail business;Fourth,optimize the assessment system,increase the proportion of retail business assessment,and ensure the differentiation and full coverage of the assessment system;Fifth,establish the correct marketing concept.This paper may provide countermeasures for the development of retail business of DONGYING BANK,at the same time,it can provide some reference for the development of retail business of commercial banks in other cities.