Consumer Financial Products Innovation And Risk Management Of Financial Institutions

As one of the three carriages of economy growth, consumption has been weak in our country for a long time. One of the reasons for weak consumption is that it didn’t receive enough support from finance. So the development of consumer finance can stimulate domestic consumption level and improve domestic economy effectively. In order to develop consumer finance, we must understand the concept of consumer finance and its restrictive factors. The narrow sense of consumer credit has a significant role in promoting domestic consumption, but financial decisions of consumers and the supply of consumer credit restrict the development of consumer finance. Also we can learn from the advanced experience of foreign countries, analyze the current situation of the domestic consumer finance, find the Lack of domestic consumer finance, come up with innovation concept and mode of consumer financial products. Through the case study of XX bank community bank, I will introduce its establishment background, business model, business planning, marketing planning, sales management, customer service management and so on. I will make description and transfer its innovative ways, ideas, management system, etc. What’s more, we cannot ignore risk embedded in innovation. The development of risk management system is a key process to the healthy development of consumer credit in commercial banks. Last but not least, I need to point out that we have a long way to go in the development of consumer finance and the innovation must keep pace with time and never stop. At the same time, I will provide suggestions to commercial banks and government, and appeal that we need to set up suitable economic environment for the innovation of products of consumer finance.