| In April 2018,the People’s Bank of China and other departments jointly issued the Guiding Opinions on Standardizing the Asset Management Business of Financial Institutions(hereinafter referred to as the New Regulations on Asset Management).The New Regulation on Asset Management requires all asset management institutions to complete the rectification of existing products by the end of 2020.However,due to the difficulty of rectification and the large number of products and the outbreak of COVID-19 seriously disrupted the rectification process,the deadline for the new regulation and reform of asset management has been extended to the end of 2021 after comprehensive consideration by the regulatory authorities.During the transition period,some banking financial institutions with more thorough transformation,diversified product forms and diversified investment emerged,and financial subsidiaries were set up one after another.The market competition showed a trend of head development,which had a great impact on the personal finance services of small and medium-sized banks,especially rural financial institutions.After the implementation of the new regulations on capital management,the financial products of banks are faced with the situation that multiple institutions such as funds and securities are competing under unified supervision,and the development of bank financial management is under pressure from many aspects.A Rural Commercial Bank started personal finance services earlier and has a large number of customers.However,in the face of strong regulation and complex and changing economic financial environment,how to give play to its advantages and improve its competitiveness in personal finance services is the primary issue it faces at present.Based on the research object of A’s agricultural and commercial behavior,this paper conducts research in the sequence of "Current situation of the competitiveness of personal finance products-existing problems-competitiveness analysis-competitiveness improvement strategies".By using the analysis tools of macro environment analysis(PEST)and situation analysis(SWOT analysis),the external environment and internal resources of A Rural Commercial Bank’s personal finance business are combined to make A comprehensive analysis,and the countermeasures to improve the competitiveness of A Rural Commercial Bank’s personal finance business are proposed.The research found that A Rural Commercial Bank personal finance business has problems such as single financial products,insufficient investment and research ability,and serious backward organizational mechanism.At the same time,in the current overall economic and financial environment,it is faced with increased difficulty in asset investment,low risk tolerance of customers,and serious threats such as industrial head squeeze.Based on the above analysis,this paper draws on the experience and practices of leading institutions in the industry,points out that the personal finance business of A Rural Commercial Bank should improve its competitiveness from four aspects: product competitiveness,income competitiveness,brand competitiveness and marketing competitiveness,and puts forward specific suggestions and practices.In order to ensure the implementation of competitiveness improvement strategy,it is suggested to guarantee the competitiveness improvement of A Rural Commercial Bank’s personal finance business from three aspects:organizational system guarantee,talent guarantee and fintech support.At last,the paper summarizes the shortcomings of this study and the prospect of the follow-up research.This study can clarify the target positioning of A rural commercial bank’s personal finance business and provide new ideas for enhancing competitiveness. |
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