Research On Bank A Financial Product Innovation

As financial market becomes more and more mature,China's current financial service level has become higher and higher,and domestic demand of financial services is increasing too.China is also vigorously promoting finance innovation in order to matche social and economic development.After the institutional reform of commercial banks,the market competition among major banks has become increasingly fierce.The innovation of financial products has become the core competition point for banks to occupy market share and one of the important core competitiveness of banks.In recent years,the economy of Zhejiang province has become the core province in Coastal area and achieved rapid development.On the base of Bank A's own environment and the province's social and economic environment,this paper takes the construction bank's tier-1 branch bank A in Zhejiang province as an example,through studying the current situation of A bank's financial products,the motivation of innovation and the current financial product innovation in order to analyze the problems Bank A's financial product innovation.Then,some optimization strategies are proposed for Bank A's innovation work.The study found that Bank A's financial products innovation achieved good results in recent years,mainly driven by the reform of the receptor system,market demand,technological progress and business interests.Bank A enriched the financial product system and has achieved Great progress,promoting the social and economic development of the province in a certain degree.However,due to the short history of A bank's innovation and lack of experience,A Bank is sittl at the trial stage.There is no perfect management mechanism in the interior.The innovation process is still not standardized and there is no endogenous innovation drive.For the existing problems,combined with the social and economic forms of Zhejiang Province,Bank A should formulate a clear innovation process and grasp the direction of financial product innovation.In order to speed up the process of A bank's financial product innovation,this paper suggests that Bank A optimizes the problems existing in the current stage of innovation management from the aspects of financial product innovation,product development process,R&D team and incentive system.In terms of specific measures,this paper puts forward the following suggestions: Bank A should continuously deepen its innovative ideas and improve management in all aspects,including R&D management system and risk management system.Continue to expand the breadth and depth of innovation direction.In combination with the market demand in Zhejiang Province,Bank A should develop targeted products for enterprises,agriculture and individual customers,support the development of the local economy,and promote inclusive finance.Strictly control the innovation process,conduct full market analysis,and do Promoting marketing and evaluation feedback after listing;Accelerate the construction of incentive and restraint mechanisms to effectively improve innovation efficiency and quality.