Transformation Strategy Of Retail Business Of State-owned Commercial Banks

With the development of national economy and mobile internet,great changes have taken place in domestic economic and financial situation.Retail business becomes the main business of commercial banks,contributing more in revenue.At the same time,customer needs and behaviors are becoming increasingly diverse.Competition in retail business is fiercer.It brings new challenges and requests to service mode.Hence,commercial banks have to seek transformation.Under the background,this article studies the transformation of retail business of commercial banks.This article starts with analysis on retail business of a state-owned commercial bank in Xiamen.Firstly,it introduces the relevant theories,current background and useful experience.Then,it analyzes the operation mode and characteristics of Bank Outlet C,as well as the problems in the process of transformation including the lack of foresight for the development of retail business,unbalanced structure of talent team,deficient customer support and business structure,and unreasonable assessment mechanism,etc.Afterwards,it analyzes the necessity of business transformation and,using SWOT matrix analysis method and other theoretical tools,seeks the right targets for retail business transformation in Bank Outlet C.Finally,this article puts forward specific strategies and suggestions from the aspects of strategic change,customer management,organizational adjustment,and assessment change,integrating theoretical and practical perspectives of study.It should be noted that retail business is one main way for banks to provide customer with spot services.Therefore,it is expected to reflect the diversity of service among different commercial banks and it is also an important way for commercial banks to demonstrate their good service to the public and seek a promotion for their sustainable development ability.This article is expected to find with solution to the existing practical problems in the process of retail business transformation to enhance the its core competitiveness in the market.It does not only provide some references to the transformation and development of this single bank,could also provide with experience and solution for other the domestic banks with a similar system.